← Autodidact Archive · Original Dissent · xmetalhead
Thread ID: 4100 | Posts: 14 | Started: 2002-12-19
2002-12-19 20:53 | User Profile
Uh-oh, no more cheese, milk, food stamps and free housing for the Mexcretment! Can you say Civil War II? Itz coming. Could it be that just too many White tax-slaves have moved out of CA? Dude!! Why yes Mr Spicoli! The article mentions nada about massive uncontrolled Panchos y Panchas invading that state and wrecking the economy! Wow, must be the ghost-in-the-machine draining all the money!
California Budget Deficit Nears $35 Billion Reuters Wednesday, December 18, 2002; 8:55 PM
By Michael Kahn
SAN FRANCISCO (Reuters) - California's budget gap has soared to a staggering $34.8 billion, Gov. Gray Davis announced on Wednesday, leaving the nation's most populous state facing a fiscal crisis more perilous than expected.
Davis, a Democrat, said the deficit over the next 18 months is up from a previously estimated $21 billion mainly because of a** nosedive in personal income tax revenues. **
The size of the deficit, about $1,000 for each of the state's 34 million residents, is bigger than the entire budget of most other U.S states and will make it difficult for lawmakers to find ways to fund critical state programs.
The governor said he was releasing the figures earlier than normal to highlight the need for lawmakers to quickly get a handle on the problem, which could spawn tax hikes and a downgrade of California's credit rating.
The bulk of the shortfall, $17.7, billion, was due to lower-than-expected tax revenue, the governor said. Another $12.6 billion resulted from one-time deficit fixes in the current budget and another $4.5 billion came from required spending increases and loss of federal funding.
"(It) is far more than any expert predicted," Davis told reporters. "A shortfall of this size represents 45 percent of the current year general fund."
California, like many U.S. states, is mired in a fiscal crisis due to the slack economy and weak stock market, which have dried up revenues flowing into state coffers. * me: Yea, right, just went and dried up, did it!?!?!*
The dot-com bust, however, made matters even worse in California, which is home to Silicon Valley and has an economy about the size of France's. The Internet boom of the 1990s contributed to multibillion dollar surpluses for the state, leading to spending increases on programs such as education and social services that now face the ax.
PROBLEM KEEPS GETTING BIGGER
The massive budget deficit could also be bad news for the state's credit rating, which is already on a negative outlook by major Wall Street agencies.
Claire Cohen, an analyst at Fitch Ratings, called the $34.8 billion figure "astounding" and said California was heading toward a downgrade. A lower credit rating would make it more expensive for the state to borrow money.
"It is a huge problem and I think the alarming thing is it keeps getting bigger," said Cohen, whose agency has California on a negative credit outlook. "As the problem gets worse, you get closer to your credit really sliding."
Davis made his announcement after meeting with top legislative leaders to discuss the fiscal emergency that has already spurred the governor to propose $10.2 billion in spending cuts affecting just about every state program.
[url=http://www.washingtonpost.com/wp-dyn/articles/A9028-2002Dec18.html]http://www.washingtonpost.com/wp-dyn/artic...-2002Dec18.html[/url]
2002-12-19 21:06 | User Profile
Xmetalhead - When you're right, you're right. If you import enough Third Worlders into your country, you get...a Third World country!
2002-12-19 21:21 | User Profile
Hereward,
You are most! And great picture.
When you're right, you're right. If you import enough Third Worlders into your country, you get...a Third World country!
2002-12-19 21:24 | User Profile
[url=http://www.sobran.com/columns/021105.shtml]http://www.sobran.com/columns/021105.shtml[/url]
"You can have free immigration, or you can have a welfare state. Trying to have both at once may not be such a bright idea. As the aging white taxpayer base shrinks, it will have to pay for more and more government dependents ââ¬â which, in our democratic system, can only mean higher taxes, until the whole thing collapses under a burden that has become impossible to sustain. To paraphrase Everett Dirksen: a trillion here, a trillion there, and pretty soon youââ¬â¢re talking real money."
--Joseph Sobran
2002-12-19 21:45 | User Profile
Greetings Hereward, and it is you who are right when you're right.... we are Third World! I remember years ago when 'they' said California would be hit by a massive earthquake, break off the continent, and thereafter float away into the Pacific. Well, I think 'they' were right!
2002-12-19 22:16 | User Profile
Thanks, Faust. Is that Wagner? As we continue 1) import more Third Worlders, and 2) through multiculturalism, not only allow but encourage them not to assimilate (contrast with the self-conscious program of "Americanization" of 100 years ago), we will find that the "newcomers" will turn wherever they settle into what they were running from. Productive native-born Americans, selfish and ungrateful wretches that they are, will generally try to escape Diversity and its innumerable benefits - but the Third Worlders will follow, as fleas will follow the dog. Mexicans are now in places where there never were Mexicans before - Georgia, Virginia, here in Seattle. Whitey will run until there's no where else to run, and who knows if he'll have the ability or the will to fight when his back's to the wall.
2002-12-19 22:47 | User Profile
Illuminating article, X. Thanks for posting it.
Your observations are on the money, Hereford.
2002-12-20 01:24 | User Profile
Many of the financial problems of the states and the Fed. Government itself arises from politicians having too much control of the nation's purse strings. It is as if the most incompetant and wastrel member of a family were to take over its finances. And at the same time that wastrel could keep extorting money from the family members at will to continue the incompetance. This crazy system we have arose from the 16th amendment and the income tax. A political movement as disastrous as all the wars and natural calamities in the nation's history.
2002-12-20 01:32 | User Profile
One thing that does bear saying on this thread is that states are being forced to bear the brunt of the federal government not looking after the borders.....in costs for everything from incarceration to police to courts to (federally mandated) emergency health care to who knows what else.
Two nights ago Glenn Spencer was on the Jeff Rense show, and the consensus was that this house of cards is gonna come crashing down soon, and to look for a states' rights showdown when the s*** hits the fan, if not sooner.
2002-12-20 15:59 | User Profile
The fact is, CA is going to ask the FEDS for a bailout. It will happen, have no doubt about it. And Bushie will be in a quandary: let them suffer and catch hell, or give in.
He can't let them go under b/c the GOP has 18 or so Congressmen out there. That's control of the House. And he's not going to let that collapse. Besides, whites are stupid. He'll announce he's saving CA with your tax dollars, and Sally Soccermom will say "That's compassionate conservatism!" as she turns on Will & Grace.
-Jay
2002-12-21 05:31 | User Profile
Yeah, Gov. Gay ... I mean, Gray Davis will no doubt hit up ZOGcentral for the cash. How long does anyone think that finger in the dyke (lots of material for jokes on that, especially in CA) will hold off the big sh*tstorm? The collapse will be blamed in part on (white) Americans not caring enough about the plight of their brown and black brothers. You'll see, they'll paste together empty, meandering circular rhetoric and statements to try and make Hugh Beaumont and Barbara Billingsly feel guilty. BTW, A lot of people concentrate on the mestizos, and forget that CA still has a rather large black population sucking on the taxpayer's collective tit. In percentage, it's shrinking a bit, due to the latrinos pushing the brillos out of certain cities, with a number of the nogs heading to Texas, Georgia, etc. Interesting times. You can almost hear the Chinese laughing in Beijing. We can already see Hymie laughing every minute in the papers and on the one eyed jew every day.
2002-12-21 12:44 | User Profile
Originally posted by Roy Batty@Dec 21 2002, 00:31 ** You can almost hear the Chinese laughing in Beijing. We can already see Hymie laughing every minute in the papers and on the one eyed jew every day. **
Roy, and the Chinese and Hebes already have their 'reconstruction' plans for the US set to go once we go down. Kalifornia will be the first state to go down.
2002-12-21 14:06 | User Profile
I have had my own bumper sticker on my cars for the last 7 years that say's
" Welcome to America" the fastest growing 3 rd world country on Planet Earth
̉̉̉
2002-12-22 01:31 | User Profile
Originally posted by xmetalhead@Dec 21 2002, 12:44 ** > Originally posted by Roy Batty@Dec 21 2002, 00:31 ** You can almost hear the Chinese laughing in Beijing. We can already see Hymie laughing every minute in the papers and on the one eyed jew every day. **
Roy, and the Chinese and Hebes already have their 'reconstruction' plans for the US set to go once we go down. Kalifornia will be the first state to go down. **
Oh I'm sure they have their plans ready. I'm also just as sure they'll never have their final plans realized. As bad and bloody as it is going to get, after the weaklings are gone, it will be our side doing the cleaning up. No doubt in my mind at all. But worse will come first, and for us, worse is better if things are to turn around.
At least I have a front row seat.