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alstry (35.35)

The ALARM bells are starting to RING!!!!

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December 01, 2008 – Comments (7)

SAN FRANCISCO (MarketWatch) -- Gov. Arnold Schwarzenegger on Monday declared a fiscal emergency and called for a special session with lawmakers to address California's $11.2 billion deficit, the Associated Press reported. California's revenue gap is expected to reach $28 billion over the next 19 months and without immediate action, the state could run out of cash in February, according to the report.

Didn't some crazy blogger warn you MONTHS AGO that California could run out of money?????  And same with Pension Funds, and  hospitals, and other states,cities,  and  companies, and individuals and.........

Hang on folks, we are just about to reach the crest of  the roller coaster just before the BIG DROP.

7 Comments – Post Your Own

#1) On December 01, 2008 at 5:12 PM, alstry (35.35) wrote:

My friends.....many of you have little in the way of preparation for what is coming.

http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=10910678&ch=4226713&src=news

Even the elderly are being forced to take in roommates to make ends meet. 

The problem is that there are too few with money that is not somehow related to leverage in one way are the other.

This is rapidly becoming very very  clear.

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#2) On December 01, 2008 at 5:16 PM, starbucks4ever (97.18) wrote:

Let him raise property taxes. Crying for help when his entire state is sitting on trillions and trillions of dollars of ill-gotten housing equity takes more than the normal amount of hutzpah.

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#3) On December 01, 2008 at 5:31 PM, schnickelfritz48 (< 20) wrote:

How about the billions spent on entitlements for illegals? Californians subscribed to their acceptance, welcomed them openly, and showered them with benefits reserved for citizens.  You benefited from the financial advantage they provided for their employers, now it's time for you to pony up for the social costs that go with them. 

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#4) On December 01, 2008 at 6:16 PM, Hudarios (< 20) wrote:

Great post and comments. Amen to all the above.  The bill is coming due.

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#5) On December 02, 2008 at 3:48 PM, guiron (20.21) wrote:

Cutting taxes is the same as spending to the government's finances. I hope today's Republicans take that to heart.

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#6) On December 02, 2008 at 4:46 PM, hansthered0 (< 20) wrote:

guiron, can you clarify your comment?

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#7) On December 02, 2008 at 5:18 PM, guiron (20.21) wrote:

What I mean is, Republicans like to talk about fiscal responsibility re: spending, but they never mention that tax cuts equal spending on a balance sheet. It doesn't matter where the money goes or doesn't go; it's negative in terms of the budget. So, I hope that Arnold will begin to realize that promoting cutting taxes and promoting cutting spending are at odds with each other, and this needs to change for the party to once again claim the mantle of fiscal responsibility. But I don't think anyone will take them seriously for a while as far as money and bugets are concerned. The only mantra the party has anymore is cut taxes, which is not a comprehensive policy but a way to get votes and take care of cronies, but we're all hurting because of these short-sighted policies.

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