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.
I thought California was such a huge economy that they could stand on their own?
What about all the talk about secession from the rabid anti Trumpers?
All that tech industry can't cut it without needing to tap the Fedgov teat?!
Every state could make an argument about needing a bailout and California politicians opposed Trump's tax cuts for corporations they could bail themselves out by raising taxes on all of the companies headquartered in California.
" Trump Has No Choice. He Has to Bail Out the States." says YOU!
" But if California", he is not going to carry Ca anyway, just like last time. and STILL won. Maybe he will show videos of the gov PRAISING Trump on how he helped them overcome the virus.,
"along with many other states", DEM controlled states which he didn't carry last time and STILL won.
Me thinks you think these states are important for Trump to win AGAIN.
You are going to be disappointed, AGAIN!
That should not be the argument. Trump ran for president of all 50 states, not just the ones he carried. But the federal taxpayers should not have to bailout California’s pension obligations. I would not mind helping states with costs associated with this pandemic, but they need to start reopening now because after this point they can’t just keep shut down forever so the feds have to bail them out. At some point they have to do what everyone else has to do that doesn’t have income, get back to work. They’re milking this pandemic so the federal government has to bail them out and that isn’t fair.
Yup. It's not just California or New York or the blue states either. Almost every state has gone through its rainy day fund and revenues are not going to be returning any time soon. States that depend on tourism and sales taxes will be hit the hardest. In recessions, continued employment of state and local workers is a bulwark against economic collapse and the foundation of a recovery. Laying off millions of state and local employees all across America will deepen and prolong the COVID recession and make the numbers even worse by November.
It's a conundrum for the GOP and Trump. They have dug themselves into a hole by politicizing the epidemic and pitting blue against red. Now they either have to back off and govern properly or lose badly across the board in November. That hole they dug, will likely be their grave.
You think it was Republicans who made this political?
That should not be the argument. Trump ran for president of all 50 states, not just the ones he carried. But the federal taxpayers should not have to bailout California’s pension obligations. I would not mind helping states with costs associated with this pandemic, but they need to start reopening now because after this point they can’t just keep shut down forever so the feds have to bail them out. At some point they have to do what everyone else has to do that doesn’t have income, get back to work. They’re milking this pandemic so the federal government has to bail them out and that isn’t fair.
The federal govt isn't giving us money for that. They are giving us money to help all those who are now unemployed, just as they are doing for other states. Our unemployment rate right now is 18%. Far greater than it was during the Great Depression. I'm sure your state is seeing a high rate of unemployment, as well. Do you want all those affected to turn down an offer to help them?
Of course it was a true surplus. Annual budget figures and long term debt are apples and oranges.
Let's say you owe $250,000 on your mortgage and at the end of the month you have $1,000 left over in your checking account, after you've made your mortgage payment. Your checking account is in surplus and you've serviced your debt. Would you say you're on the verge of bankruptcy at this point? Of course not.
Pensions have nothing to do with virus assistance. I'm sure all of the states would be happy to accept federal aid even if it had a requirement that it not be deposited into pension funds.
And it's this type of thinking, folks, that has put California on the path ruin. The flaw with your analogy is that the mortgage is really $5M and there's a balloon payment due next week. California purchased a $5M home because they could afford the payment on a 3 year ARM. Not sustainable.
And it's this type of thinking, folks, that has put California on the path ruin. The flaw with your analogy is that the mortgage is really $5M and there's a balloon payment due next week. California purchased a $5M home because they could afford the payment on a 3 year ARM. Not sustainable.
Except the majority of homes in California don't cost $5M. We still have plenty of homes in the 300K range. There's more to California than beach communities and Silicon Valley.
Except the majority of homes in California don't cost $5M. We still have plenty of homes in the 300K range. There's more to California than beach communities and Silicon Valley.
Its analogy and has absolutely nothing to do with the price of homes in California. The home/mortgage is analogy for CA's unfunded pension obligations.
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.
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.
