California is Bankrupt

[dmode]

I am not worried about all these debts and deficits. Rick Perry just held a prayer session and I am confident that's all we need. God Bless America..

I also like the term "spender-in-chief". I hope you were referring to Bush. If not, you are purely being dishonest in this board (at the same time presenting an holier than thou attitude). This chart clearly illustrates that bulk of the deficit comes from the Bush administration.

How Trillion-Dollar Deficits Were Created - Interactive Graphic - NYTimes.com

Most of the deficits during the Obama administration comes from the stimulus, lower tax receipts due to the recession and increasing spending due to automated programs such as unemployment benefits. I think "spender-in-chief" is a nice political label and sound bite. But please don't pretend you are better off than any other politician when you endorse such disingenuous facts.

On the topic of deficits, I can write multiple paragraphs. But the bottom line is US deficits and CA deficits are the safest investment instruments as demonstrated the the continued plunging of treasury and muni yields. CA deficits are minuscule in the global scheme of things - Jamie Dimon himself said on tv that a 1% tax increase will solve the deficit. The US deficit is probably a tad more serious, but Japan runs a 200% of GDP deficit and has a 4.9% unemployment rate. In addition, the US deficit can easily be resolved by repealing the Bush-Obama tax cuts, reasonable defense cuts, and a growing economy

[nullgeo]

Here, you wise sages of finance and politics ... I know you will have many snappy things to say about Warren Buffet (who couldn't possibly as smart as a 27 year-old wonder boy!) ... but I leave you with his most recent statements about "Stop coddling the super-rich" anyway:

http://www.nytimes.com/2011/08/15/op...uper-rich.html

I have multiple operations and other medical to return to this week and later in the month and fall ... follow ups to my long past damages ... I will be cranky while I recover ... you will most likely be free of my wisecracking, indefinitely . I suspect I will be down the bluff on my beach with bedroll and fishing rod -- eating soft food and terrorizing unsuspecting fish until I feel good enough and strong enough to hike and sail off into the sunset again. Meanwhile you all blather on about how the Tea Party is the solution ... and bemoan why oh why the most of us don't listen to arrogant 27 year-olds for enlightenment.

Lucky you. (as Bugs Bunny used to say: what a bunch of maroons!)

[mateo45]

Originally Posted by nullgeo

Here, you wise sages of finance and politics ... I know you will have many snappy things to say about Warren Buffet (who couldn't possibly as smart as a 27 year-old wonder boy!) ... but I leave you with his most recent statements about "Stop coddling the super-rich" anyway:

http://www.nytimes.com/2011/08/15/op...uper-rich.html

I have multiple operations and other medical to return to this week and later in the month and fall ... follow ups to my long past damages ... I will be cranky while I recover ... you will most likely be free of my wisecracking, indefinitely . I suspect I will be down the bluff on my beach with bedroll and fishing rod -- eating soft food and terrorizing unsuspecting fish until I feel good enough and strong enough to hike and sail off into the sunset again. Meanwhile you all blather on about how the Tea Party is the solution ... and bemoan why oh why the most of us don't listen to arrogant 27 year-olds for enlightenment.

Lucky you. (as Bugs Bunny used to say: what a bunch of maroons!)

Best wishes in your recuperation!

Yeah, have always appreciated Buffet's famous and candid quote, “there's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning.”

BTW, I personally prefer the Tea Party spelling.... "morans"!