The California Budget

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can't sit still
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Post by can't sit still » Tue Jun 02, 2009 6:26 pm

Well fellow Burners, it's SHOW TIME !!!
http://globaleconomicanalysis.blogspot. ... day-of.htm
"Wells Fargo CEO says California in 'financial ruin'"

"Here's the bad news:
There Are $2.4 Trillion of Alt-A Mortgages and Their Resets Are Mostly Ahead of Us."

"Chiang said last week that as a practical matter, the budget must be patched up by mid-June in order to give officials time to borrow the money."
OK, so we have about TWO FUCKING WEEKS to come to an agreement on what to cut,,, how to implement it,,, and get it passed.
Bloomberg is talking about the possibility that investors will lose their appetite for investment in California;
http://www.bloomberg.com/apps/news?pid= ... refer=home
If the legislature doesn't do a convincing job of reducing costs, the investors just won't buy bonds. As long as it's safer to invest in Brazil, why would investors want to invest in California?
ugly
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cowboyangel
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Post by cowboyangel » Tue Jun 02, 2009 6:44 pm

close the tax loopholes
tax the fuck out of the oil companies
tax the fuck out of the states billionaires (we got plenty)
Issue state script, other states are doing it and it's working.
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

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Post by mdmf007 » Tue Jun 02, 2009 7:49 pm

cowboyangel wrote:close the tax loopholes
tax the fuck out of the oil companies
Sounds good

tax the fuck out of the states billionaires (we got plenty)
Why? The top 1% of this nation already pays 40% of the tax burden. How is that fair already. I say charge a flat tax, not my fault the guy down the street makes 18k a year and kudos to the guy making millions off his invention or business. 16% flat tax would leave a surplus yearly, even at our ridiculous spending levels.

Issue state script, other states are doing it and it's working.
Unconstitutional - not that that has not been changed or added to about 27 times

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Post by can't sit still » Wed Jun 03, 2009 5:19 pm

We could save a lot of money on advertising;
"One Reason Tuition Just Keeps Going Up…

Unnecessary marketing. Believe it or not, the University of California has a whopping $62 million marketing budget to convince students to apply to its nine prestigious campuses. Yet, the UC campuses are so full that they do not even have room to accept the tens of thousands of students they are already attracting. In 2003, the UC system received approximately 100,000 applications. Just more than 50 percent, or 50,291 freshman students, were offered fall admission for the 2003-2004 school year. To make matters even worse, Assemblyman John Campbell (R–Irvine) wrote in the Orange County Register (April 9, 2003) that “according to one analysis, the program spends at least $50,000 per student it actually enrolls.â€
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Post by ygmir » Wed Jun 03, 2009 6:10 pm

well yeah.

do you think you can convince people who are sure "it's not overspending, it's that we don't get enough revenue", of anything like that?

the Sacramentoids, those in power in state government, only see deficits as a lack of revenue, never, an issue of to much spending and pork.

IMHO
YGMIR

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Post by can't sit still » Sat Jun 13, 2009 3:27 pm

This article is from the Times in the UK. I'm somewhat curious why it isn't in the l.A. Times.
http://www.timesonline.co.uk/tol/news/w ... 489325.ece
"The state’s top finance officials warned that unless an emergency austerity plan is agreed by Monday — and there is little chance that it will be — they will not be able to borrow the billions of dollars needed to keep the current government functioning."
monday
Californians are accustomed to the budget being late. This time around, it will probably be different. If there isn't any interim financing, GOV may just shut down. It was proposed that CA GOV use the money in the CAFR report. The govenator said that the idea was hallucinatory. Ca goes in the red $ 500,000,000 a week. Sacramento is paralyzed. This may scare off potential bond buyers. If that happens, Ca will have to default. That would remove state funding to the cities. I can only give a vague projection of what the result would be. Ugly to the max.
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Post by can't sit still » Mon Jun 22, 2009 5:32 pm

"And sure enough, on Friday, Moody’s tacitly admitted as much, announcing that it may have to cut California’s rating by several notches in one fell swoop!"
http://www.moneyandmarkets.com/californ ... sing-34271
I think that fell is the operative word here. Many big investors are required by their bylaws to shed any investments that aren't rated as AAA or close. California is rated lower than Slovakia and going down. The Ca. constitution requires that income be spent first on education and secondly on bond repayment. The bond holders are a bit worried because education has been a bottomless money sink. The average school system has 27 non-teachers for every 100 teachers. Ca has 117 non-teachers for every 100 teachers.

The UTA got great contracts in great times. Now, they want to continue with great contracts. The Govenator rejected a $ 2B tax increase on cigs and oil companies. I have to agree. He has to cut the bloated school budget. The alternative is to cause the oil companies to raise prices which would curtail the whole state. We just took deliver of a bright, shiny, new 10 % sales tax. The $ 2 B wouldn't make much difference anyway.
Dan
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Post by can't sit still » Wed Jul 01, 2009 6:52 pm

"Chiang plans to send $3.36 billion in IOUs this month "
http://news.yahoo.com/s/nm/20090701/pl_ ... nia_budget
That's nice. Can you cash an IOU at the bank? Legislature is obsessed with avoiding being the 'bad Guy' . Ca. GOV has been obsessed with postponement. Dipshits!
Not that Ca. is alone. I bailed out a friend from jail. After disposition of the case, one has to wait 2 weeks to received the return of the bail money. L.A. city told me that they don't have any money. They can't return MY money. They said,,,, maybe in a couple of months. Dipshits!
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Post by can't sit still » Mon Jul 06, 2009 6:14 pm

Jim Sinclair’s Commentary

California IOUs have some value, but for 7 days only.

You think California will be able to pay off these IOUs in 7 days, or even 7 months for that matter?

What do you think this means to business in California? What do you think this means to the worthless guarantees on California municipals? What is next? Los Angeles County 20% five year municipal bonds? Maybe they could get short term loans from the Bloods or the Crips?

Bank of America sets cutoff for redeeming California IOUs
The bank warns it will halt the transactions after July 10. Some other big financial institutions follow suit.
By Tom Petruno
July 3, 2009

Bank of America Corp. set the tone for the banking industry’s response to California’s decision to issue IOUs.

That message, essentially, is this: "We’ll help you for a week. If you can’t get your act together and nail down a budget by then, you’re on your own."

Bank of America announced late Wednesday that it would redeem in full the state’s IOUs (formally, "registered warrants") from current BofA customers who want to cash them in. But the bank set a cutoff date of July 10.

On Thursday, other big banks including Chase, Wells Fargo & Co. and Union Bank followed BofA’s lead, saying they’ll cash the IOUs from customers only through July 10.

Some banks, including City National, didn’t set a cutoff date, but they didn’t preclude doing so at some point. Many credit unions also have agreed to accept the IOUs from customers without setting a time limit, the California Credit Union League said.

The big banks’ hardball strategy will create hardships for their customers if no budget deal is struck soon and the state continues to issue IOUs instead of checks. The state set a redemption date of Oct. 2 for the IOUs, although it said it might redeem them before then if it has the cash. Other lenders may step up to buy the IOUs in the interim, but probably at a discount to face value, unlike the big banks’ redemption programs."

There is a likelihood that Ca. will be severely downgraded in their credit rating. If the legislature finally gets serious and passes a budget that is honestly balanced, they won't be able to sell bonds to most buyers because of their bad state credit rating . The bonds will be offered as junk rated with very high interest. Ca is already servicing $70 billion in bonds. That means, to rollover it's existing <3> % debt,,, it will be rolled over at <8> %
Ca tried to convince Obama that it was fiscally serious and deserved federal loan guarantees for it's state paper. Obama didn't buy it. Why should potential state bond buyers buy it.
There's no way to sugar-coat it. It's going to be apocalyptic in California.
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Post by can't sit still » Wed Jul 15, 2009 8:24 am

As y'all know, Ca is doing furloughs of some workers. It's been reported that if GOV laid off 200,000 of the 235,000 total of the state workers, it would still not close the budget gap. Here's a suggestion that I received in mail;


Governor Arnold Schwarzenegger
State Capitol Building
Sacramento, CA 95814

Dear Governator,



I am a resident or citizen of California and I am deeply concerned about the well being and fiscal soundness of our free, independent and sovereign State.



I understand that California is struggling financially.



I understand that California is also straining under the additional burden of providing services for illegal aliens under federal mandates, which burden is exacerbated by the federal government's neglect of its duty to guard and secure our borders.



I also understand that California has made claims with the federal government seeking reimbursement for those costs.



Please consider this suggestion for a solution to all three problems. Right now, California, as well as all other states, are exempt, beyond the taxing authority of the federal government. The federal government may not tax any state activity because it is not within the power of one sovereignty to tax (destroy) that which another sovereignty has the power to create. See McCulloch v. Maryland, 17 U.S. 316 (1819); Farrington v. Tennessee, 95 U.S. 679 (1877); and, by way of example, The Union Bank v. Hill, 43 Tenn. 325 (1866).



California has waived its immunity from federal taxation of its activities and submitted to withholding of taxes on its employees. Since these employees' employment exists solely by virtue of the authority of the sovereign State of California, and since they are employed as such solely by virtue of the permission and consent of the sovereign State of California, their employment, too, is exempt from federal taxation. (See Marshall's definition of extent of taxing authority as co-extensive with sovereignty and sovereignty being limited to those subjects that either exist by its authority or are introduced by its permission. McCulloch, supra.)



One single step, ceasing federal tax withholding, and at the same time cutting wages and salaries down to the pre-federal withholding net, would be a way to redirect those billions of dollars California is now paying to the federal government to the state's general fund. It would also provide employees with an increase in their net pay because by virtue of the "reduction" of their gross pay their withholding of state income taxes would be reduced.



Desperate times call for desperate measures. Many of California's financial woes are directly attributable to the federal government, so why should California make this huge gift of taxes out of comity when that respect and deference is answered with abuse, disrespect and indifference?



California is a free and independent sovereignty. Although the States have been hypnotized into believing that their hind legs are paralyzed, that does not mean the spell cannot be broken and our state cannot stand and reclaim the full extent of its sovereignty, which includes exemption from federal taxation. Merely asserting that sovereignty, which is the duty of the governor and our legislature, can not only solve California's budgetary crisis, it can improve the lives of its public servants.



To be a free and sovereign state, California must first begin to think like a free and sovereign state and then act like a free and sovereign state. Anything less is to reduce our great state to being a mere political subdivision of the federal government, a colony of a distant and indifferent government. We can be more than that.



Respectfully,
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Post by can't sit still » Sun Jul 19, 2009 10:56 am

Here's a list of the many entities supported by california taxes;

Ever wonder why California is bankrupt? Here is a list of all the state agencies. How many of these are really needed? How many existed 20 years ago? Just a few too many state employees? Get serious!



California Academic Performance Index (API) * California Access for Infants and Mothers * California Acupuncture Board * California Administrative Office of the Courts * California Adoptions Branch * California African American Museum * California Agricultural Export Program * California Agricultural Labor Relations Board * California Agricultural Statistics Service * California Air Resources Board (CARB) * California Allocation Board * California Alternative Energy and Advanced Transportation Financing Authority * California Animal Health and Food Safety Services * California Anti-Terrorism Information Center * California Apprenticeship Council * California Arbitration Certification Program * California Architects Board * California Area VI Developmental Disabilities Board * California Arts Council * California Asian Pacific Islander Legislative Caucus * California Assembly Democratic Caucus * California Assembly Republican Caucus * California Athletic Commission * California Attorney General * California Bay Conservation and Development Commission * California Bay-Delta Authority * California Bay-Delta Office * California Biodiversity Council * California Board for Geologists and Geophysicists * California Board for Professional Engineers and Land Surveyors * California Board of Accountancy * California Board of Barbering and Cosmetology * California Board of Behavioral Sciences * California Board of Chiropractic Examiners * California Board of Equalization (BOE) * California Board of Forestry and Fire Protection * California Board o f Guide Dogs for the Blind * California Board of Occupational Therapy * California Board of Optometry * California Board of Pharmacy * California Board of Podiatric Medicine * California Board of Prison Terms * California Board of Psychology * California Board of Registered Nursing * California Board of Trustees * California Board of Vocational Nursing and Psychiatric Technicians * California Braille and Talking Book Library * California Building Standards Commission * California Bureau for Private Postsecondary and Vocational Education * California Bureau of Automotive Repair * California Bureau of Electronic and Appliance Repair * California Bureau of Home Furnishings and Thermal Insulation * California Bureau of Naturopathic Medicine * California Bureau of Security and Investigative Services * California Bureau of State Audits * California Business Agency * California Business Investment Services (CalBIS) * California Business Permit Information (CalGOLD) * California Business Portal * California Business, Transportation and Housing Agency * California Cal Grants * California CalJOBS * California Cal-Learn Program * California CalVet Home Loan Program * California Career Resource Network * California Cemetery and Funeral Bureau * California Center for Analytical Chemistry * California Center for Distributed Learning * California Center for Teaching Careers (Teach California) * California Chancellor’s Office * California Charter Schools * California Children and Families Commission * California Children and20Family Services Division * California Citizens Compensati on Commission * California Civil Rights Bureau * California Coastal Commission * California Coastal Conservancy * California Code of Regulations * California Collaborative Projects with UC Davis * California Commission for Jobs and Economic Growth * California Commission on Aging * California Commission on Health and Safety and Workers’ Compensation * California Commission on Judicial Performance * California Commission on State Mandates * California Commission on Status of Women * California Commission on Teacher Credentialing * California Commission on the Status of Women * California Committee on Dental Auxiliaries * California Community Colleges Chancellor’s Office, Junior Colleges * California Community Colleges Chancellor’s Office * California Complaint Mediation Program * California Conservation Corps * California Constitution Revision Commission * California Consumer Hotline * California Consumer Information Center * California Consumer Information * California Consumer Services Division * California Consumers and Families Agency * California Contractors State License Board * California Corrections Standards Authority * California Council for the Humanities * California Council on Criminal Justice * California Council on Developmental Disabilities * California Court Reporters Board * California Courts of Appeal * California Crime and Violence Prevention Center * California Criminal Justice Statistics Center * California Criminalistic Institute Forensic Library * California CSGnet Network Management * Calif ornia Cultural and Historical Endowment * California Cultura l Resources Division * California Curriculum and Instructional Leadership Branch * California Data Exchange Center * California Data Management Division * California Debt and Investment Advisory Commission * California Delta Protection Commission * California Democratic Caucus * California Demographic Research Unit * California Dental Auxiliaries * California Department of Aging * California Department of Alcohol and Drug Programs * California Department of Alcoholic Beverage Control Appeals Board * California Department of Alcoholic Beverage Control * California Department of Boating and Waterways (Cal Boating) * California Department of Child Support Services (CDCSS) * California Department of Community Services and Development * California Department of Conservation * California Department of Consumer Affairs * California Department of Corporations * California Department of Corrections and Rehabilitation * California Department of Developmental Services * California Department of Education * California Department of Fair Employment and Housing * California Department of Finance * California Department of Financial Institutions * California Department of Fish and Game * California Department of Food and Agriculture * California Department of Forestry and Fire Protection (CDF) * California Department of General Services * California Department of General Services, Office of State Publishing * California Department of Health Care Services * California Department of Housing and Community Development * CaliforniaDepartment of I ndustrial Relations (DIR) * California Department of Insurance20* California Department of Justice Firearms Division * California Department of Justice Opinion Unit * California Department of Justice, Consumer Information, Public Inquiry Unit * California Department of Justice * California Department of Managed Health Care * California Department of Mental Health * California Department of Motor Vehicles (DMV) * California Department of Personnel Administration * California Department of Pesticide Regulation * California Department of Public Health * California Department of Real Estate * California Department of Rehabilitation * California Department of Social Services Adoptions Branch * California Department of Social Services * California Department of Technology Services Training Center (DTSTC) * California Department of Technology Services (DTS) * California Department of Toxic Substances Control * California Department of Transportation (Caltrans) * California Department of Veterans Affairs (CalVets) * California Department of Water Resources * California Departmento de Vehiculos Motorizados * California Digital Library * California Disabled Veteran Business Enterprise Certification Program * California Division of Apprenticeship Standards * California Division of Codes and Standards * California Division of Communicable Disease Control * California Division of Engineering * California Division of Environmental and Occupational Disease Control * California Division of Gambling Control * California Division of Housing Policy Development * California Division of Labor Standards Enforcement * California Division of Labor Statistics and Research * C alifornia Division of Land and Right of Way * California Division of Land Resource Protection * California Division of Law Enforcement General Library * California Division of Measurement Standards * California Division of Mines and Geology * California Division of Occupational Safety and Health (Cal/OSHA) * California Division of Oil, Gas and Geothermal Resources * California Division of Planning and Local Assistance * California Division of Recycling * California Division of Safety of Dams * California Division of the State Architect * California Division of Tourism * California Division of Workers’ Compensation Medical Unit * California Division of Workers’ Compensation * California Economic Assistance, Business and Community Resources * California Economic Strategy Panel * California Education and Training Agency * California Education Audit Appeals Panel * California Educational Facilities Authority * California Elections Division * California Electricity Oversight Board * California Emergency Management Agency * California Emergency Medical Services Authority * California Employment Development Department (EDD) * California Employment Information State Jobs * California Employment Training Panel * California Energy Commission * California Environment and Natural Resources Agency * California Environmental Protection Agency (Cal/EPA) * California Environmental Resources Evaluation System (CERES) * California Executive Office * California Export Laboratory Services * California Exposition and State Fair (Cal Expo) * California Fair Political Practices Commission * Califo rnia Fairs and Expositions Division * California Film Commission * California Fire and Resource Assessment Program * California Firearms Division * California Fiscal Services * California Fish and Game Commission * California Fisheries Program Branch * California Floodplain Management * California Foster Youth Help * California Franchise Tax Board (FTB) * California Fraud Division * California Gambling Control Commission * California Geographic Information Systems Council (GIS) * California
Geological Survey * California Government Claims and Victim Compensation Board * California Governor’s Committee for Employment of Disabled Persons * California Governor’s Mentoring Partnership * California Governor’s Office of Emergency Services * California Governor’s Office of Homeland Security * California Governor’s Office of Planning and Research * California Governor’s Office * California Grant and Enterprise Zone Programs HCD Loan * California Health and Human Services Agency * California Health and Safety Agency * California Healthy Families Program * California Hearing Aid Dispensers Bureau * California High-Speed Rail Authority * California Highway Patrol (CHP) * California History and Culture Agency * California Horse Racing Board * California Housing Finance Agency * California Indoor Air Quality Program * California Industrial Development Financing Advisory Commission * California20Industrial Welfare Commission * California InFoPeople * California Information Center for the Environment * California Infrastructure and Economic Development Bank (I-Bank) * California Inspection Services * California Institute for County Government * California Institute for Education Reform * California Integrated Waste Management Board * California Interagency Ecological Program * California Job Service * California Junta Estatal de Personal * California Labor and Employment Agency * California Labor and Workforce Development Agency * California Labor Market Information Division * California Land Use Planning Information Network (LUPIN) * California Lands Commission * California Landscape Architects Technical Committee * California Latino Legislative Caucus * California Law Enforcement Branch * California Law Enforcement General Library * California Law Revision Commission * California Legislative Analyst’s Office * California Legislative Black Caucus * California Legislative Counsel * California Legislative Division * California Legislative Information * California Legislative Lesbian, Gay , Bisexual, and Transgender (LGBT) Caucus * California Legislature Internet Caucus * California Library Development Services * California License and Revenue Branch * California Major Risk Medical Insurance Program * California Managed Risk Medical Insurance Board * California Maritime Academy * California Marketing Services * California Measurement Standards * California Medical Assistance Commission * California Medical Care Services * California Military Department * California Mining and Geology Board * California Museum for History, Women, and the Arts *=2 0California Museum Resource Center * California National Guard * California Native American Heritage Commission * California Natural Community Conservation Planning Program * California New Motor Vehicle Board * California Nursing Home Administrator Program * California Occupational Safety and Health Appeals Board * California Occupational Safety and Health Standards Board * California Ocean Resources Management Program * California Office of Administrative Hearings * California Office of Administrative Law * California Office of AIDS * California Office of Binational Border Health * California Office of Child Abuse Prevention * California Office of Deaf Access * California Office of Emergency Services (OES) * California Office of Environmental Health Hazard Assessment * California Office of Fiscal Services * California Office of Fleet Administration * California Office of Health Insurance Portability and Accountability Act (HIPAA) Implementation (CalOHI) * California Office of Historic Preservation * California Office of Homeland Security * California Office of Human Resources * California Office of Legal Services * California Office of Legislation * California Office of Lieutenant Governor * California Office of Military and Aerospace Support * California Office of Mine Reclamation * California Office of Natural Resource Education * California Office of Privacy Protection * California Office of Public School Construction * California Office of Real Estate Appraisers * California Office of Risk and Insu rance Management * California Office of Services to the Blind * C alifornia Office of Spill Prevention and Response * California Office of State Publishing (OSP) * California Office of Statewide Health Planning and Development * California Office of Systems Integration * California Office of the Inspector General * California Office of the Ombudsman * California Office of the Patient Advocate * California Office of the President * California Office of the Secretary for Education * California Office of the State Fire Marshal * California Office of the State Public Defender * California Office of Traffic Safety * California Office of Vital Records * California Online Directory * California Operations Control Office * California Opinion Unit * California Outreach and Technical Assistance Network (OTAN) * California Park and Recreation Commission * California Peace Officer Standards and Training (POST) * California Performance Review (CPR) * California Permit Information for Business (CalGOLD) * California Physical Therapy Board * California Physician Assistant Committee * California Plant Health and Pest Prevention Services * California Policy and Evaluation Division * California Political Reform Division * California Pollution Control Financing Authority * California Polytechnic State University, San Luis Obispo * California Postsecondary Education Commission * California Prevention Services * California Primary Care and Family Health * California Prison Industry Authority * California Procurement Division * California Public Employees’ Retirement System (CalPERS) * California Public Employment Relations Board (PERB) * California Publi c Utilities Commission (PUC) * California Real Estate Services Division * California Refugee Programs Branch * California Regional Water Quality Control Boards * California Registered Veterinary Technician Committee * California Registrar of Charitable Trusts * California Republican Caucus * California Research and Development Division * California Research Bureau * California Resources Agency * California Respiratory Care Board * California Rivers Assessment * California Rural Health Policy Council * California Safe Schools * California San Francisco Bay Conservation and Development Commission * California San Gabriel and Lower Los Angeles Rivers and Mountains Conservancy * California San Joaquin River Conservancy * California School to Career * California Science Center * California Scripps Institution of Oceanography * California Secretary of State Business Portal * California Secretary of State * California Seismic Safety Commission * California Self Insurance Plans (SIP) * California Senate Office of Research * California Small Business and Disabled Veteran Business Enterprise Certification Program * California Small Business Development Center Program * California Smart Growth Caucus * California Smog Check Information Center * California Spatial Information Library * California Special Education Division * California Speech-Language Pathology and Audiology Board * California Standardized Testing and Reporting (STAR) * California Standards and Assessment Division * California State Administrative Manual (SAM)=2 0* California State Allocation Board * California State and Consumer Serv ices Agency * California State Architect * California State Archives * California State Assembly * California State Association of Counties (CSAC) *0ACalifornia State Board of Education * California State Board of Food and Agriculture *California Office of the Chief Information Officer (OCIO) * California State Children’s Trust Fund * California State Compensation Insurance Fund * California State Contracts Register Program * California State Contracts Register * California State Controller * California State Council on Developmental Disabilities (SCDD) * California State Disability Insurance (SDI) * California State Fair (Cal Expo) * California State Jobs Employment Information * California State Lands Commission * California State Legislative Portal * California State Legislature * California State Library Catalog * California State Library Services Bureau * California State Library * California State Lottery * California State Mediation and Conciliation Service * California State Mining and Geology Board * California State Park and Recreation Commission * California State Parks * California State Personnel Board * California State Polytechnic University, Pomona * California State Railroad Museum * California State Science Fair * California State Senate * California State Summer School for Mathematics and Science (COSMOS) * California State Summer School for the Arts * California State Superintendent of Public Instruction * California State Teachers’ Retirement System (CalSTRS) * Califo rnia State Treasurer * California State University Center for Distributed Le arning * California State University, Bakersfield * California State University, Channel Islands * California State University, Chico * California State University, Dominguez Hills * California State University, East Bay * California State University, Fresno * California State University, Fullerton * California State University, Long Beach * California State University, Los Angeles * California State University, Monterey Bay * California State University, Northridge * California State University, Sacramento * California State University, San Bernardino * California State University, San Marcos * California State University, Stanislaus * California State University (CSU) * California State Water Project Analysis Office * California State Water Project * California State Water Resources Control Board * California Structural Pest Control Board * California Student Aid Commission * California Superintendent of Public Instruction * California Superior Courts * California Tahoe Conservancy * California Task Force on Culturally and Linguistically Competent Physicians and Dentists * California Tax Information Center * California Technology and Administration Branch Finance * California Telecommunications Division * California Telephone Medical Advice Services (TMAS) * California Transportation Commission * California Travel and Transportation Agency * California Unclaimed Property Program * California Unemployment Insurance Appeals Board * California Unemployment Insurance Program * California Uniform Construction Cost Accounting Commission * California Veterans Board * California Veterans Memorial * Califor nia Veterinary Medical Board and Registered Veterinary Technician Examining Committee * California Veterinary Medical Board * California Victim Compensation and Government Claims Board * California Volunteers * California Voter Registration * California Water Commission * California Water Environment Association (CWEA) * California Water Resources Control Board * California Welfare to Work Division * California Wetlands Information System * California Wildlife and Habitat Data Analysis Branch * California Wildlife Conservation Board * California Wildlife Programs Branch * California Work Opportunity and Responsibility to Kids (CalWORKs) * California Workers’ Compensation Appeals Board * California Workforce and Labor Development Agency * California Workforce Investment Board * California Youth Authority (CYA) * Central Valley Flood Protection Board * Center for California Studies * Colorado River Board of California * Counting California * Dental Board of California * Health Insurance Plan of California (PacAdvantage) * Humboldt State University * Jobs with the State of California * Judicial Council of California * Learn California * Library of California * Lieutenant Governor’s Commission for One California * Little Hoover Commission (on California State Government Organization and Economy) * Medical Board of California * Medi-Cal * Osteopathic Medical Board of California * Physical Therapy Board of California * Regents of the University of California * San Diego State University20* San Francisco State University * San José Stat e University * Santa=2 0Monica Mountains Conservancy * State Bar of California * Supreme Court of California * Teach California * University of California * University of California, Berkeley * University of California, Davis * University of California, Hastings College of the Law * University of California, Irvine * University of California, Los Angeles * University of California, Merced * University of California, Riverside * University of California, San Diego * University of California, San Francisco * University of California, Santa Barbara * University of California, Santa Cruz * Veterans Home of California


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Post by Monkeypoo » Sun Jul 19, 2009 4:02 pm

This has probably already been said, but... Maybe they should cut the uppity-ups salaries in HALF and quit with the fucking bonuses and kickbacks to all those in higher government.

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Post by can't sit still » Wed Jul 22, 2009 5:20 pm

California has $ 17.6 billion deposited in 6 banks that refuse to honor it's IOUs. It has been proposed that the treasurer withdraw the money and create a state bank much like North Dakota. ND has had a state bank for decades and it has proved to be very profitable to the people of the state. It would be an excellent idea for California. I'm sure that the bank-masters will do whatever they can to block it. Imagine if all the states tossed out their banks in favor of state credit. ND has no budget problems.
http://www.webofdebt.com/articles/california_iou.php
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Post by can't sit still » Sat Aug 08, 2009 2:08 pm

California is all to happy to issues IOUs but, apparently won't accept them.

California Won't Accept Its Own IOUs
By MARIA DINZEO

SAN FRANCISCO (CN) - Small businesses that received $682 million in IOUs from the state say California expects them to pay taxes on the worthless scraps of paper, but refuses to accept its own IOUs to pay debts or taxes. The vendors' federal class action claims the state is trying to balance its budget on their backs.
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Post by can't sit still » Sat Aug 15, 2009 9:13 pm

"August 13 – Bloomberg (Michael B. Marois and William Selway): “California will stop using IOUs to pay its bills in early September, lifting a burden on businesses, taxpayers and municipalities that received $2 billion of the registered warrants instead of cash… State Treasurer Bill Lockyer said he plans to sell $1.5 billion of notes by Aug. 28 to meet cash needs, followed by $10.5 billion of such short-term loans in mid-September.â€
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Post by can't sit still » Thu Aug 27, 2009 4:00 pm

Ca also has $ 3.7 billion in one year revenue anticipation bonds due in NOV. Here's your chance to help the GOV save a few bucks;
http://gov.ca.gov/report/
Dan
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Post by can't sit still » Thu Sep 03, 2009 7:17 pm

Ca is paying out $ 80 million a day in unemployment benefits;
http://www.mybudget360.com/california-e ... -27-weeks/
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Post by can't sit still » Fri Sep 11, 2009 4:53 pm

The California insurance fund ran out of money in January. Since then Ca has been borrowing from the federal insurance trust fund. So far, they've borrowed about $ 3 billion. By the end of 2010, Ca is expected to have a deficit of $ 17.8 billion. OK, so the projection is that we go in the hole $ 1 B a month just from U.I. Something tells me that the Govenator is going to become less popular.


http://www.mybudget360.com/california-l ... ifth-of-c/
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Post by can't sit still » Thu Sep 17, 2009 7:17 pm

http://www.hjta.org/california-commentary/bond-bomb
"The $200 billion in state debt includes about $35 billion in budget related liabilities -- read this as budget tricks used to paper over the deficit; about $69 billion in bond debt that must be repaid from the general fund; and more than $100 billion in unfunded liabilities for government employee pensions and health care."
$ 200 billion,, that might result in a wee cut in in services.
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Post by can't sit still » Sat Sep 19, 2009 7:07 am

http://www.marketwatch.com/story/califo ... id=yahoomy
This is out of Berkeley. The author says that Cal won't recover until it is pulled out of the hole by hitech industries. Unfortunately, the White House science expert claims that the US needs to de-instrialize to raise the quality of living. It hasn't worked for Berkeley.
"UC Berkeley has one of the greatest engineering departments in the world. Now name one high-tech company in Berkeley. You can't; tech companies scramble out of there as fast as they can. (There is a burrito place called High Tech Burrito. That's about it.)"
"The only real solution to save California from the inevitable actually is the inevitable: Declare bankruptcy, and reset the system."
"Vallejo, Calif., during its bankruptcy proceedings -- a pattern of corruption, cronyism, abuse and the defrauding of the taxpaying public. City officials making more than $300,000 a year, firemen making more than $200,000, friends hiring friends."
The same is true for BART and others. GOV is the hog trough.
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Post by can't sit still » Wed Nov 11, 2009 11:19 am

Well, Greenspan jumped ship when he was able. David Walker, the US comptroller-General quit after 15 years. Now, the California budget director has flown the coop.
http://www.sacbee.com/capitolandcalifor ... atrick.net
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Post by Ugly Dougly » Wed Nov 11, 2009 11:32 am

Monkeypoo wrote:This has probably already been said, but... Maybe they should cut the uppity-ups salaries in HALF and quit with the fucking bonuses and kickbacks to all those in higher government.
There's a certain knee-jerk tendency to grab pitchforks and torches and head for the homes of those in power. It's great fun, but in this case, I suspect that the main culprit is California's ballot initiative system. There's not enough coordination of how the budget is dvided up when the hoi polloi votes in new functions for the government.

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Post by can't sit still » Wed Nov 18, 2009 6:28 pm

California has regularly spent $ 10 billion a year more than it receives. This is getting to be a problem. The budget director has just quit. I suspect that he believes that the 2 parties will just lock horns until Ca defaults. "Republicans vow to block new taxes; Democrats say they are through with program cuts."
"Mike Genest, told a budget forum in Washington last week that back in February he had combed through the U.S. Constitution to research whether California could legally declare bankruptcy -- or revert to some kind of territorial status."
http://www.latimes.com/news/local/la-me ... 7152.story
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Post by can't sit still » Wed Nov 25, 2009 6:51 pm

This article talks about how the public service unions demand contracts that are way too high;
http://globaleconomicanalysis.blogspot. ... ector.html
Case-law makes retirements negotiable after-the-fact. I expect that the various public service sectors are going to engage in a lot of in-fighting. Cops against teachers,,, etc.
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Post by Ugly Dougly » Thu Nov 26, 2009 9:34 am

As long as the roots are not severed, all is well. And all will be well in the garden... In the garden, growth has it seasons. First comes spring and summer, but then we have fall and winter. And then we get spring and summer again.
-Chance

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Post by can't sit still » Thu Nov 26, 2009 9:38 am

Peter was brilliant in that movie. In real life, a dofus like Chance would seriously muck up the system. Chance could walk on water, Arnold can't.
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Post by can't sit still » Sun Nov 29, 2009 8:13 pm

This is a pretty good article
http://online.wsj.com/article/SB1000142 ... 77092.html;

"The high tax, big government, regulatory regime we see in California is the current course and speed for where the nation is headed," she warns. "California is a great test case, a factual demonstration that those programs don't work."
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Post by can't sit still » Wed Dec 16, 2009 9:00 pm

Well, California is expected to have a $ 21 billion deficit next year. Money isn't the only thing that is running out. Ca earns $36 billion a year from AG. Seems the water is running out too;
http://news.yahoo.com/s/nm/20091215/us_ ... california
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Post by can't sit still » Thu Dec 24, 2009 8:40 pm

It isn't california, this is about arizona. They just closed all their rest areas,,, so, no big deal. Well, now they DO have a big deal.
"# Five years of spending nearly doubled state government.
# The economic recession has reduced state revenues by almost 40 percent"
"Federal and voter mandates prevent us from touching nearly two-thirds of the state budget."
"I am restating my Arizonans-only directives to state agencies to ensure that public benefits are provided only to those who are legally in this country and who reside in this state."
"fundamentally ruled out simplistic solutions like rolling the state budget back to levels from five, six, or more years ago."
"Next year’s budget deficit stands at $3.4 billion. As of today -- right now, that MUST change. "
This news is from the governor.
Ca. will see the same trends because it has the same problems. California's deficit is projected at $ 16 or $21B,,, I forget. Notice that the GOV says, no public money to illegals. Imagine if the Governator cuts off all public assistance to illegals in Ca. :cry:

http://globaleconomicanalysis.blogspot. ... -face.html
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Post by can't sit still » Sun Dec 27, 2009 11:29 am

It's a sad, sad conclusion but, under our present system and our present economy, We just can't afford our current retirement system. It would be different if we didn't have continuous wars dragging us down but, Hillary said that we're going to be in Afghanistan for 40--50 years. The California retirement system is in trouble.

"The California State Teachers' Retirement System has written off the $100 million it invested in the New York deal. CalSTRS and CalPERS lost a combined $100 billion in the fiscal year ending June 30 and say taxpayers might have to put more money into the pension funds."
http://tenantstogether.org/article.php?id=1077
The taxpayers can't possibly be expected to maintain a good pension system for public employees when the private taxpayer is flat out broke. It will get ugly. :(
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