FelixDeCat
Lifer
I know theres talk of Federal loans to pay their expenses (which makes absolutely no sense, since bankruptcy is the only option left to force reform in California), but if they do decide to let it go Chapter 13, will you flee?
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When California goes bankrupt, will you flee that state?
- Thread starter FelixDeCat
- Start date
zerocool84
Lifer
With how much the car registration is going up, lots of people have been thinking about it but there's no place greater in the USA than Los Angeles.
FelixDeCat
Lifer
Phoenix. Close enough and lots of sunshine.
JulesMaximus
No Lifer
Obviously you haven't been to San Diego.
frostedflakes
Diamond Member
California will never go bankrupt. The feds will bail them out, or they will cut back on entitlements or something long before it came to that.
zerocool84
Lifer
Deserts are never a good place to live.
JulesMaximus
No Lifer
Fixed that for ya.
FelixDeCat
Lifer
Cut back on entitlements? Thats not possible in liberal states. You know it, I know it, the market knows it. And the feds bailing them out means America will pay Californias bills from now on. That wont work. They must go bankrupt because nobody wants to compromise over there from what Ive heard.
FelixDeCat
Lifer
Come on, 120F aint that bad. Its a dry heat. Everybody hangs out at the mall anyway.
frostedflakes
Diamond Member
Oh I guarantee if things get bad enough they will cut back on entitlements. I mean what other choice would they have?
Like I said, though, fed bailout is much more likely if California ends up in very dire straits.
Like I said, though, fed bailout is much more likely if California ends up in very dire straits.
PrinceofWands
Lifer
Since I would never live in that state again anyway, economic concerns are moot.
TehMac
Diamond Member
California should go bankrupt. Get the morons in charge out of there. These assclowns can't see past their high and might welfare ideas that got us in this shit storm anyway. California is one of the highest tax-leveraging states in the United States...look where all that money went.
Down one big sink hole. Californians that give a shit are beginning to realize the best government is one that provides for civic services and gets the fuck out of everyone's way.
Down one big sink hole. Californians that give a shit are beginning to realize the best government is one that provides for civic services and gets the fuck out of everyone's way.
FelixDeCat
Lifer
But according to frostedflakes its "all good" if we pay Californias bills via a Fed bailout (this year). Then theres next year. And the year after that. And the year after that.
zerocool84
Lifer
Only the weather is slightly better and things are cheaper but LA is better in every way. Everything is within close driving distance.
GagHalfrunt
Lifer
Are you kidding? When they run out of money to stop paying to illegal immigrants California can go back to being part of the USA again.
frostedflakes
Diamond Member
LOL, show me where I said that I support the idea of a federal bailout for California. You can't, because I have never endorsed such a thing. I'm just saying that this is what I think will most likely happen if California cannot work out it's financial troubles on its own. IIRC they already got some money in the stimulus bill passed earlier this year to help with their deficit.
FelixDeCat
Lifer
I dont think any more proof is needed. They have proven they cant work things out because nobody will budge on income or spending. So bankrupty MUST happen.
If the Feds intervene to circumvent bankruptcy, CA will be worse off because nothing will change. And if nothing changes you know the outcome - bankruptcy.
her209
No Lifer
http://www.ebudget.ca.gov/Stat...0/6110/department.html
It says there are approximate 6.3 million kids. The Department of Education's budget is $56.8 billion. That means it costs approximately $9,000 dollars a year per kid.
:Q
It says there are approximate 6.3 million kids. The Department of Education's budget is $56.8 billion. That means it costs approximately $9,000 dollars a year per kid.
:Q
frostedflakes
Diamond Member
I just don't know why you seem to think that states have the ability to declare bankruptcy, because they don't AFAIK. California will either need to make some very difficult decisions (cut spending and/or increase taxes) or turn to the feds for assistance.
I agree though that they need to make difficult spending cuts to ensure that they don't end up in the same situation during the next downturn. Either that or raise taxes to pay for all the spending (that's one of my big pet peeves, people want all these government programs but don't want to pay for them, they don't realize the money has to come from somewhere). Unfortunately this is easier said than done, spending cuts and tax increases are both pretty unpopular ideas.
I agree though that they need to make difficult spending cuts to ensure that they don't end up in the same situation during the next downturn. Either that or raise taxes to pay for all the spending (that's one of my big pet peeves, people want all these government programs but don't want to pay for them, they don't realize the money has to come from somewhere). Unfortunately this is easier said than done, spending cuts and tax increases are both pretty unpopular ideas.
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