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07-06-2010, 03:00 PM
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Location: Sputnik Planitia
7,473 posts, read 10,593,069 times
Reputation: 8420
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07-06-2010, 03:09 PM
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Location: South Jordan, Utah
7,855 posts, read 8,439,099 times
Reputation: 3429
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Glad I moved out of there.
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07-06-2010, 03:26 PM
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12,017 posts, read 13,207,645 times
Reputation: 5981
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Yep. And it's a much bigger deal than Greece. I guess you can't run a state with corrections officers and other state workers that make six-figure salaries and pensions after all especially when you are trying to provide the biggest welfare state in the country.
California is a greater risk than Greece, warns JP Morgan chief - Telegraph |
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07-06-2010, 03:36 PM
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Location: South Jordan, Utah
7,855 posts, read 8,439,099 times
Reputation: 3429
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Quote:
Originally Posted by chopchop0
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Ya, who would have ever guessed that doing so would not work out. :-) |
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07-06-2010, 04:00 PM
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Location: Tower of Heaven
4,023 posts, read 7,003,639 times
Reputation: 1448
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Congrats California !
This state must ABSOLUTELY change and become more business-friendly.If Jerry Brown becomes governor this state won't be able to do that !
California must imitate New Jersey and governor Christie.
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07-06-2010, 04:15 PM
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12,017 posts, read 13,207,645 times
Reputation: 5981
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Quote:
Originally Posted by RenaudFR
Congrats California !
This state must ABSOLUTELY change and become more business-friendly.If Jerry Brown becomes governor this state won't be able to do that !
California must imitate New Jersey and governor Christie.
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Amen to that. NY could use a governor like Christie too. |
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07-06-2010, 05:27 PM
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Location: Great State of Texas
86,052 posts, read 80,323,694 times
Reputation: 27688
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CA has been on the edge of default for what..2-3 years now ? How do they always manage to avoid it each year ?
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07-06-2010, 07:57 PM
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Location: H-town, TX.
3,503 posts, read 6,875,808 times
Reputation: 2232
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Quote:
Originally Posted by HappyTexan
CA has been on the edge of default for what..2-3 years now ? How do they always manage to avoid it each year ?
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Probably those IOUs on state income tax returns when necessary.
At least with the state having ~$200B of unfunded liabilities last I checked, we'll stop hearing how Cali has some large economy way up high in the world's pecking order. |
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07-06-2010, 08:59 PM
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Location: South Jordan, Utah
7,855 posts, read 8,439,099 times
Reputation: 3429
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Quote:
Originally Posted by HappyTexan
CA has been on the edge of default for what..2-3 years now ? How do they always manage to avoid it each year ?
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Selling off assets, cutting fat from the budgets, "borrowing" from future revenue and other accounting tricks.
Now the fun begins, slashing jobs, slashing welfare, under funding pensions, etc. It won't be pretty. |
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