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Greece in the US?

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  1. scgolfer scgolfer is offline honey let's go

    Peoria, AZ
    United States

    Posts: 1,245
    Joined: May 05

    May 11th, 2010 (5/11/2010 9:22pm)

    California Governor Arnold Schwarzenegger will seek “terrible cuts” to eliminate an $18.6 billion budget deficit facing the most-populous U.S. state through June 2011, his spokesman said, according to Bloomberg.

    “We can’t get through this deficit without very terrible cuts,” Schwarzenegger spokesman Aaron McLear told reporters in Sacramento. “We don’t believe that raising taxes right now is the right thing to do.”

    In January, the governor said California may have to eliminate entire welfare programs, including the main one that provides cash and job assistance to families below the poverty line, without an influx of cash from the federal government.

    California has the lowest credit rating among U.S. states. A taxable California bond maturing in 2039 traded for a yield of 7.08 percent today, up from an average of 6.87 percent on May 6, according to Municipal Security Rulemaking Board data.

    So does this "austerity" cause riots or not really until it hits middle class not just the poor? Or just more mass exodus out of CA? Or does it just setup a Federal bailout of CA, then IL, then NJ, then NY, then AZ, then etc?

    And of course by bailout, I mean the FED just printing a few more billion $$ out of thin air, making each of your dollars worth less.
     
  2. jesterwords jesterwords is offline

    Posts: 20,674
    Joined: Jan 06

    May 11th, 2010 (5/11/2010 9:27pm) in reply to scgolfer

    hey, why not just eliminate "state's rule" and just make America all under the the government? I mean its obvious that CA can't govern itself. Jeez, its like a disgrace or something that they can't even balance a budget in one of the richest states in the Union. Time to disband the union, its just not working, its obvious.

    this whole "United States" thing has run its course, its time we move along to a better way of doing things.
  3. Niceguy Niceguy is offline I will find you.

    NV
    United States

    Posts: 18,944
    Joined: Jul 06

    May 11th, 2010 (5/11/2010 9:28pm) in reply to jesterwords

    I agree with you comrade.
  4. jesterwords jesterwords is offline

    Posts: 20,674
    Joined: Jan 06

    May 11th, 2010 (5/11/2010 9:32pm) in reply to Niceguy

  5. emcee21 emcee21 is offline

    Orlando, FL
    United States

    Posts: 15,891
    Joined: Feb 06

    May 11th, 2010 (5/11/2010 9:35pm) in reply to scgolfer

    I hope they cut some subsidies and other stupid shit while they cut welfare. Would hate to see them default, but maybe it's the best thing for 'em. Who am I kidding though? Obviously we will bail them out. Then again, the market is currently shitting all over the big stupid EU bailout, so maybe that trick won't work anymore. People don't want to be paid with promises of future funny money.
  6. JON STAMOZ JON STAMOZ is offline

    United States

    Posts: 3,367
    Joined: Oct 08

    May 11th, 2010 (5/11/2010 9:41pm) in reply to scgolfer

  7. RichardHurtz RichardHurtz is online now

    Russian Federation

    Posts: 3,373
    Joined: May 07

    May 11th, 2010 (5/11/2010 9:42pm) in reply to scgolfer

    If they could get rid of the illegals they might have a surplus. I imagine a couple of million illegals have to put a strain on the budget. They should sue the feds
  8. Spiltbongwater Spiltbongwater is offline

    Coquitlam
    Canada

    Posts: 1,661
    Joined: Dec 08

    May 11th, 2010 (5/11/2010 10:35pm) in reply to RichardHurtz

    Hollywood, and the movie industry is one of the most subsidized industries. While actors make obscene amounts of money, and walk red carpets and dine on caviar, the working class foots a large chunk of the bill. Take away the subsidies, and watch the money flow up to Hollywood North. There lies a problem.
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