U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-06-2010, 03:00 PM
 
Location: Sputnik Planitia
7,473 posts, read 10,593,069 times
Reputation: 8420

Advertisements

California budget crisis - worse than you think...

California budget crisis: it's worse than you think | CAIVN
Rate this post positively Reply With Quote Quick reply to this message

 
Old 07-06-2010, 03:09 PM
 
Location: South Jordan, Utah
7,855 posts, read 8,439,099 times
Reputation: 3429
Glad I moved out of there.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-06-2010, 03:26 PM
 
12,017 posts, read 13,207,645 times
Reputation: 5981
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
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-06-2010, 03:36 PM
 
Location: South Jordan, Utah
7,855 posts, read 8,439,099 times
Reputation: 3429
Quote:
Originally Posted by chopchop0 View Post
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
Ya, who would have ever guessed that doing so would not work out. :-)
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-06-2010, 04:00 PM
 
Location: Tower of Heaven
4,023 posts, read 7,003,639 times
Reputation: 1448
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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-06-2010, 04:15 PM
 
12,017 posts, read 13,207,645 times
Reputation: 5981
Quote:
Originally Posted by RenaudFR View Post
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.
Amen to that. NY could use a governor like Christie too.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-06-2010, 05:27 PM
 
Location: Great State of Texas
86,052 posts, read 80,323,694 times
Reputation: 27688
CA has been on the edge of default for what..2-3 years now ? How do they always manage to avoid it each year ?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-06-2010, 05:38 PM
 
12,017 posts, read 13,207,645 times
Reputation: 5981
Quote:
Originally Posted by HappyTexan View Post
CA has been on the edge of default for what..2-3 years now ? How do they always manage to avoid it each year ?
Spain and Greece took the spotlight in the nick of time?

Make no mistake, CA's time is coming...

http://latimesblogs.latimes.com/mone...rnia-cred.html
http://online.wsj.com/article/SB123370579471145581.html
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-06-2010, 07:57 PM
 
Location: H-town, TX.
3,503 posts, read 6,875,808 times
Reputation: 2232
Quote:
Originally Posted by HappyTexan View Post
CA has been on the edge of default for what..2-3 years now ? How do they always manage to avoid it each year ?

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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-06-2010, 08:59 PM
 
Location: South Jordan, Utah
7,855 posts, read 8,439,099 times
Reputation: 3429
Quote:
Originally Posted by HappyTexan View Post
CA has been on the edge of default for what..2-3 years now ? How do they always manage to avoid it each year ?
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.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics

All times are GMT -6. The time now is 05:58 AM.

© 2005-2022, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top