So, seriously, when will California finally break??? (New $2B bond axed).....

[redgtxdi]

http://www.zerohedge.com/article/ca...te-cancels-2-billion-general-obligation-bond-

OK, so surprisingly I actually didn't hear this one 'til tonight. But I keep hoping one of these headlines will finally read....."California BK, it's finally over!!"

I feel like it's the slowest train wreck in the history of slow train wrecks. When in the $!#!$! will California finally tap out????

 

[soccerballtux]

I eagerly await the downfall of the Liberal Mascot.

 

[IronWing]

If Nebraska can get a break on healthcare, maybe California can get a break on transfer payments to the red states. This reminds me of New York City's crisis in the 70s when folks were wagging their fingers at NYC, ignoring that NYC residents paid out far more in state and federal taxes than they got back in state and federal services, subsidizing the finger waggers.

 

[BoberFett]

If Nebraska can get a break on healthcare, maybe California can get a break on transfer payments to the red states. This reminds me of New York City's crisis in the 70s when folks were wagging their fingers at NYC, ignoring that NYC residents paid out far more in state and federal taxes than they got back in state and federal services, subsidizing the finger waggers.

As a state with higher average income than other states, it's their moral obligation to go into bankruptcy to support those who earn less.

 

[Moonbeam]

I eagerly await the downfall of the Liberal Mascot.

As a Californian hearing that I just want to say I hope wherever your live things go very well and the people in your state do not suffer even if all of them are as big a bunch of puss sacks as you are.

 

[DucatiMonster696]

If Nebraska can get a break on healthcare, maybe California can get a break on transfer payments to the red states. This reminds me of New York City's crisis in the 70s when folks were wagging their fingers at NYC, ignoring that NYC residents paid out far more in state and federal taxes than they got back in state and federal services, subsidizing the finger waggers.

Excuses, excuses by the left who do not want to address the issue of a CA's state lib dominated legislators not working within the means of a budget and sticking to it. Anyone asserting that somehow federal taxes are the reason behind CA's current budgetary woes is nothing more then a left wing hack. Those "payments to red states" were/are not the reason behind the sinking the state. You have to really be grasping at straws in a dishonest manner to make that assertion.

 

[DucatiMonster696]

As a Californian hearing that I just want to say I hope wherever your live things go very well and the people in your state do not suffer even if all of them are as big a bunch of puss sacks as you are.

Doesn't matter Texas is becoming the new "Golden State". It has an economy which is quickly and rapidly rivaling that of CA's ontop of having sane civil/criminal laws and a sane tax code that allows business to thrive.

 

[herkulease]

Excuses, excuses by the left who do not want to address the issue of a CA's state lib dominated legislators not working within the means of a budget and sticking to it. Anyone asserting that somehow federal taxes are the reason behind CA's current budgetary woes is nothing more then a left wing hack. Those "payments to red states" were/are not what is sinking the state period. You have to really be grasping at straws in a dishonest manner to make that assertion.

Its part of the problem. I find it ridiculous that any state can get near double what they contribute. I find it to be much fairer if its a 10 % difference. so 0.90 to 1.10 back to what a state puts in But the bigger problem to me is voodoo math. Ridiculous projections coupled with ridiculous ideas of "cuts"

OMG we got more tax revenue this year. Its 5% more than expected. lets increase spending by 10% because next year we'll be getting 5% more than this year.

or, Instead of a 5% increase we'll just increase it by 3%. Look at that we just cut spending by 2%.

 

[jhu]

Doesn't matter Texas is becoming the new "Golden State". It has an economy which is quickly and rapidly rivaling that of CA's ontop of having sane civil/criminal laws and a sane tax code that allows business to thrive.

Except for United States District Court for the Eastern District of Texas, you're probably right.

 

[Craig234]

Excuses, excuses by the left who do not want to address the issue of a CA's state lib dominated legislators not working within the means of a budget and sticking to it. Anyone asserting that somehow federal taxes are the reason behind CA's current budgetary woes is nothing more then a left wing hack. Those "payments to red states" were/are not the reason behind the sinking the state. You have to really be grasping at straws in a dishonest manner to make that assertion.

Have I mentioned you continue posting dishonest idiocy lately? Oh ya, a couple minutes ago in my last post to another of your posts in another thread.

You don't mention the big problems at all from Republicans here, from their Prop 13 cutting off of taxes to balance the budget to the 1/3 of Republican in the Legislature having a veto over ANY new tax and pledging to pass zero. I think dishonest idiocy fits the post you made quite well. As for the topic you do mention, California like other blue states does indeed pay more in federal taxes while getting less in return compared to red states, in part because the constitution had the Senate very unbalanced to favor low-population states which tend to be Republican, with each Californian getting 1/50 the representation of some Repubs.

 

[RoloMather]

Psh California is too big to fail.

 

[StageLeft]

I'd like them to have a crisis soon because many other states like NY are soon to follow and the quicker people can have a come to Jesus in California the quicker other states will have a wake up call. this is also why I'd like to see Greece summarily devolve into an anarchist hellscape run by the Lord Humongous. The quicker it happens to them the quicker the rest of can go "Oh snap, it really was a real problem, let's change course."

 

[TruePaige]

It's not California's fault, it is the fault of those who suckle at the sweet nectar of that state's work.

 

[Mursilis]

If Nebraska can get a break on healthcare, maybe California can get a break on transfer payments to the red states. This reminds me of New York City's crisis in the 70s when folks were wagging their fingers at NYC, ignoring that NYC residents paid out far more in state and federal taxes than they got back in state and federal services, subsidizing the finger waggers.

It's not like Cali isn't a state with significant political power at the federal level. If they feel they're getting screwed by the feds based on wealth transfers to the 'red states', and the evidence suggests they are, maybe they should stop making those payments?!? Don't hand your money to a con man and then whine like a child when he doesn't give it back!

Stupid Californians - they champion liberalism at every turn, and then whine when it bites them in the rear!

 

[Fear No Evil]

Since the left believes a 3.8 trillion dollar budget is a good thing, California should eagerly pay their fair share. Maybe add a 50% tax on movie stars? It is kind of ironic that some are trying to suggest that transfer payments to red states are somehow bad. Is that not what the left does to the 'rich' every day? Force them to give money to poorer people? So why is OK to do that to an individual but not a state? Pay for your new Obama overlord CA!

 

[Genx87]

I find it amusing lefties complaining about redistribution of wealth

 

[Mursilis]

I find it amusing lefties complaining about redistribution of wealth

Because few of them mean their wealth - that would sting. They mean someone else's wealth.

 

[boomerang]

The bigger question is will the residents of CA learn anything from the experience? You know how they say your kids will never learn to take care of themselves if you keep bailing them out ........

 

[Fear No Evil]

Because few of them mean their wealth - that would sting. They mean someone else's wealth.

Excellent point.

 

[drebo]

California pays their state legislators over $90k per year, and there are a LOT of them. Axe that and we can save quite a bit!

 

[EagleKeeper]

Until the peope of CA decide that they have to straighten out their mess and make sure that their legislature understands that, they will have problems.

As someone stated in another thread, the state itself is not sending money to the Federal Government, it is the people. do the # also take into account the military bases and such that are also located in CA.

If the people had more $$; the state would just reach into their pockets, take it and find a way of spending it without addressing the underlying problems.

The problem is that they want to spend on every project without worrying about how to pay for it. then when the bill comes due, they wring their hands. By that time the project has become so ingrained into the entitlement mentality that they are scared to remove it.

 

[nick1985]

I'd like them to have a crisis soon because many other states like NY are soon to follow and the quicker people can have a come to Jesus in California the quicker other states will have a wake up call. this is also why I'd like to see Greece summarily devolve into an anarchist hellscape run by the Lord Humongous. The quicker it happens to them the quicker the rest of can go "Oh snap, it really was a real problem, let's change course."

I support this statement.

 

[Corn]

As a state with higher average income than other states, it's their moral obligation to go into bankruptcy to support those who earn less.

You win this thread.

 

[BoberFett]

Its part of the problem. I find it ridiculous that any state can get near double what they contribute. I find it to be much fairer if its a 10 % difference. so 0.90 to 1.10 back to what a state puts in But the bigger problem to me is voodoo math. Ridiculous projections coupled with ridiculous ideas of "cuts"

OMG we got more tax revenue this year. Its 5% more than expected. lets increase spending by 10% because next year we'll be getting 5% more than this year.

or, Instead of a 5% increase we'll just increase it by 3%. Look at that we just cut spending by 2%.

If states get back from the fed what they put in, then we can eliminate federal taxes altogether, right? Just let states determine how their money is spent rather than sending it to the feds, who send it right back with strings attached.

 

[Moonbeam]

Quote:
Originally Posted by BoberFett
As a state with higher average income than other states, it's their moral obligation to go into bankruptcy to support those who earn less.

You win this thread.

But that's just silly. I've heard, and not being a Muslim myself, I can't say for sure, but even in that religion so many think of a backward, there is a provision that folk give 2% to charity, but only, only, I repeat, if they can afford it and have met their own actual personal needs. There is no such moral obligation to give what you do not have. Even a Christian, I think, will give you his shirt if you ask, and add his coat as a further gesture, but I don't recall anything about having to go out first and charge a coat on Visa. You, yourself may give more than you earn, but then, well, you could also be stupid.