California fiscal emergency declared, IOUs expected soon
July 1st, 2009 . by TexasFredCalifornia fiscal emergency declared, IOUs expected soon
The IOUs aren’t in the mail but they are soon likely after California political leaders failed to reach a last-minute deal on fixing a $24.3 billion budget deficit Tuesday night.
Gov. Arnold Schwarzenegger on Wednesday declared a fiscal emergency to force lawmakers into a special session.
“Though the legislature failed to solve our budget problem yesterday, rest assured that solving the entire deficit remains my first and only priority, and I will not rest until we get it done. I will not be a part of pushing this crisis down the road — the road stops here,” Schwarzenegger said in a statement.
The governor’s declaration under Proposition 58 requires lawmakers to adopt a plan to close the deficit within 45 days.
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California fiscal emergency declared, IOUs expected soon
You can’t take an IOU to the pharmacy and get your prescriptions filled. Your kids can’t wear an IOU. You can’t EAT an IOU. How long does anyone think it will take for California to erupt in full blown RIOT MODE?
Those asshats in South Central, Watts and Cudahy don’t need much of an excuse. They have gone on a rampage simply because Rodney King got his ass beat. How long do you think it will take when bellies get empty and kids are sick?
How long do you think it will take to erupt when their loved ones are dying because they haven’t got the insulin they need to stay alive or the heart medications or cancer fighting drugs they need to stay alive? A desperate human is a dangerous animal.
Schwarzenegger also signed an executive order forcing 220,000 state workers to take a third furlough day without pay beginning this month.
I suppose they can live with that. It will hurt, just not as bad as being completely out of a job. But honestly, will that furlough day even be a drop in the bucket? I don’t have a clue, I hope BZ, Gawfer or Bushwack will weigh in here, they are a lot more knowledgeable concerning California.
The governor proposed $16 billion in cuts, borrowing $2 billion from local governments and taking $6 billion from other government accounts. He also backs accelerated personal and corporate income tax collections, as well as a 5 percent cut in state employee pay.
Borrow, cut pay, increase taxes, hmmm. I thought Arnie was a Republican?? Oh, wait, he’s a Kennedy in disguise, I forgot, just a RINO poser that thinks you can borrow, cut salaries and tax your way out of everything. Remind you of any other foreign born poser in power?
State leaders thought they had resolved the current year budget earlier than ever when they adopted one in February, but the recession cut tax revenue by about 20 percent since then.
So, tax revenue drops and Arnie proposes RAISING taxes. What the hell? I know Arnie isn’t a *country person* like some of us, I guess he never heard the old expression, ‘You can’t get blood from a turnip’.
Things are bad all over, but it looks like California is in worse shape than anyone at this moment. Then you throw in the welfare that California pays out, and the medical care they provide, and I am talking about that provided to ILLEGALS. Well, couple that with LEGAL citizens already being very angry, the ILLEGALS not getting their *free cheese* and then throw in an incredibly unstable gang population that would likely thrive in the event of civil insurrection and there you have it.
A recipe for disaster.
In our local paper today there was a list of possible cuts to programs. They included mental illness, welfare to work and disability programs…NOWHERE on the list was a cut to the illegals benefits or a stop to state sponsored health care or their education. NOPE we are going to make GOOD programs suffer. I’m all for the welfare to work program it actually is a HAND UP not a hand out, there is strict rules on it and it actually works. and disability, how do you cut that? legitimately disabled are losing state benefits because our leaders refuse to do the RIGHT thing.
Fred don’t get me started on the idiocy that is rampant in this state. From the Fish and Game all the way up to the Governor are as corrupt as any elected officials in Mexico proper. And I’ll end my little rant by saying: (In my best Billy Mays voice)
BUT WAIT, THERE’S MORE!
This is all coming to your state soon, I don’t care where you are, Texas, SC, NC or DC, Fedzilla is mirroring Cali’s politics and they refuse to see what’s coming.
I just want to cry (I’m a girl, I can do that), but I think that it’s past time for tears.
With your previous post and all the comments, I realize that yes, I do believe it’s very much time for action. Those people you mentioned that will riot out in CA are the same types that will be rioting in Memphis, and Chicago, and New York. They’ll be destroying any chance of their own recovery, and expect, and sadly, will receive taxpayer aid to rebuild. This is going to get very ugly. Start stockpiling salt!
This time the riots will last longer, be more violent and will destroy the State. I suggest that if you live in California you make sure that you have enough food, fuel and ammo for at least a month.
Even if they have a month long supply, what happens after that month is up??
California will still be broke, in a lot worse shape and no money in hand…
The USA is broke, lets face it, this nation is running on worthless paper, the only ones that don’t see it are the Obamites, you think a month of civil insurrection in Cali would be immediately rectified by a U.S. bailout on the 31st day??
I don’t…
This is what happens when the Illegals rape our country. Like a swarm of locusts, all they’re leaving is dirt. Sad.
Fred this may be way off topic and way out of line. I really don’t want to offend anyone. If California is BROKE why are they spending money to investigate the way this idiot lived his life? I know, I know spend millions of dollars to find the drug suppliers to put them away for 2yrs? Time for me to get off the computer, this crap pisses me off.
Federal Drug Agents Asked to Join Michael Jackson Death Probe
I don’t think you’ll offend anyone with that question…
And quite honestly, damn if I know… It’s California and the Feds…
California has gone down the toilet because of all it’s social programs especially those for non-citizens. Now Obama wants to model the rest of the country after California.
Dear Lord in heaven…..have we all gone through a freakin’ rabbit hole to a parallel universe?
I wish, looks like we’re stuck here with a bunch of idiots that are running our country. Looks like Common Sense went down the rabbits hole to another Universe.It’s definitely not on this earth.
TF: on my department, patrol staffing just got cut 74% to pre-1970 levels. In the meantime the population of this county has grown, obviously, exponentially since then. Our County Executive said, when he first came to office some years ago, that he wanted to make this county the “shining star” in the state of Fornicalia in terms of social programs provided. So, social programs cut? Few. But he cut the living shit out of the Sheriff’s Department and fire. We will essentially not be able to function. I’ll find out this morning at 8am if MY position in training is eliminated.
On the other hand, the Sheriff has said he’s left with no other option than to INcrease the number of CCW permits given to citizens. He stated PUBLICLY he won’t be able to provide the necessary protection. And the criminals know this and are talking about it already.
Robert’s correct: what happens HERE will be coming to YOU shortly. Good fucking luck. Buy ammo.
I’m THIS far from retiring and driving 79 miles back to my home. Problem is, my wife has her house in this hellhole. And, with my pay cuts, I can’t afford to retire yet.
This is such a beautiful state. It’s just gorgeous. And it’s about to be turned in a FOURTH world country.
BZ
Plus, my wife works for the state and has done so for 17 years. She’s been given her THIRD furlough (unpaid) day, which equates to an 18% cut in her income and, of course, in our ability to pay bills. I lost my training pay and no overtime for anything is allowed. No overtime. No cops. Good luck, citizens. You really ARE on your own.
BZ
IOU’s will begin being issued today. Speculation is some banks will honor them; some will not.
the last time this happened was in ’92 when Gray Davis was the State Controller. At that time, BofA was the primary bank in CA and did honor the IOUs, forcing the smaller banks to follow suit. This time, it’s a crap shoot.
Left Coast politics, LOL!
Gawfer, how long do they plan on giving those IOU’s out?
What’s gonna happen if the businesse’s start paying their monthly taxes to the state in IOU’s ? NOW, that’s gonna get dam interesting. THEY can issue IOU’s, to YOU but don’t you try that……..
Like Ghandi said, the best way to get rid of government is to cut off it’s money supply and it will soon wither and die, and I believe he was right. BofA, they’er the ones that want to give illegals credit cards without SSN proof, so screw them. Bad times are a comin.
The people I know in California all have sufficient firearms and ammo to protect their home and family and belongings.
When the serious defensive shooting begins, I will sigh and remember, as I was on the 08-5-1965 Watts Riot, Florence and Normandy checkpoint, and took a brick in the teeth. This made me empty my riot shotgun into the “confrontationists”, as they were called, by Mayor Sam Yorty.
History will now most likely repeat itself.
Glad I’m back in my home State of Texas now.
Let the “games” begin.
Vigilante,
They will continue to issue them until a revised budget is agreed upon; who knows when that will occur.
I emailed my state senator last week telling him that by getting rid of the illegal aliens in the state, the burden on publics schools would all but go away, emergency rooms would return to normal, freeways would clear up and prisons would return to manageable populations reducing the financial burden to the point that the stat would recover… haven’t heard back.
The other issue is the ‘bleeding heart’ welfare programs that suck the life right out if the tax payers. There has been some talk of recalling all of the reps, but nobody seems to know how to facilitate a move like that. I’d love to leave this state for good, but my house is worth 1/2 of my mortgage these days, and walking away doesn’t fit in with conservative values.
Illegal aliens=Democratic votes.
All of this is like Psychological Warfare. ALL the politicians want us White folks to think we are being RAYYYYcist if we want the borders closed. So most Americans feel guilty because they want the borders closed. Not here though. Close the Damned borders, now!!!! They are pulling us into a black hole. Maybe too late.
They are pulling us into a black hole.
Is that another reference to Obama?
Gawfer-As my teenage daughter says “I threw up a little in mouth on that visual”.
yuck! sorry to cause discomfort… Will antacids work against Obama then?
Antacids will help for Obama about like decongestants work on congested roadways…
I fixed your HTML Lil Buddy…
Anti-Jackass-cids Fruit flavor.
Thanks ol’ Pa
Anti-Jackass-cids Fruit flavor.
Can’t say what came to mind…
Gawfer, maybe I’m thinkin wrong, but don’t ya have to have at LEAST SOME money to make a budget??? What I’m getting at is, THEY are broke……. is that the same as being “so broke they could’nt even pay attention?? LOL
V,
I guess that’s the big joke. The state has tons of money coming in everyday from cities and counties. Hell, California is the 6th largest economy in the world, for God’s sake. But the L.A. Mayor was just complaining that the state is going to use some of his city’s revenue to pay bills with.
In the case of California, the term budget is really convoluted because what is being debated is not the mandatory annual expenditures, but how much money is necessary to fund the addional desired programs. The state government is like a bunch of drunken sailors on liberty with 3 paychecks in hand. They cannot help but spend uncontrollably. Rather than taking the logical approach of paying for what was already purchased on credit, they’re buying more stuff on credit.
Rather than eliminating the programs and illegal aliens that are literally sucking cash out of our pockets, they are arguing about which programs to add. They are complete asshats and adolescents.
You’ll enjoy this: an assemblyman in Fornicalia yesterday tried to pass a bill that would allow ANYONE provided with an IOU to utilize that IOU as PAYMENT for ANY BILL the state sends to the holder of said IOU.
I think that’s phenomenal!
BZ