Author Topic: White House dashes hopes of California budget help (Read 7307 times)

thundley4 · « **on:** June 16, 2009, 01:33:00 PM »

"WASHINGTON (Reuters) - The White House on Tuesday dashed hopes that the federal government would help California overcome a mammoth budget crisis that has brought the state dangerously close to an economic meltdown, saying California will have to solve the problem on its own.

"It's obviously not an easy time for the state of California," White House spokesman Robert Gibbs told a briefing when asked if the administration would provide emergency financing for the state.

"We'll continue to monitor the challenges that they have, but this budgetary problem unfortunately is one that they're going to have to solve," Gibbs said.

California's revenues are plunging amid recession, rising unemployment and the prolonged housing crisis, and the state is unable to borrow its way out of its immediate financial trouble by issuing debt because of its budget gap.

It will run out of cash within weeks if it does not balance its books, according to State Controller John Chiang, who estimated last week California was "less than 50 days away from a meltdown of state government."" Rueters

Lord Undies · « **Reply #1 on:** June 16, 2009, 01:43:34 PM »

At this point, I don't care if California becomes part of the ocean bed (sorry, BEG), but if I was the governor of California, I would do an executive order telling all California businesses to halt federal tax deposits immediately and send one half the amount to the state comptroller until further notice.

I wouldn't get away with it, but it would sure shake the sh*t out of Washington.

Celtic Rose · « **Reply #2 on:** June 16, 2009, 01:47:39 PM »

I've lived in California all my life, and all I can say is that we've reaped what we've sown. The only thing keeping me here is my grandparents and other relatives. My grandparents are getting older, and I want to make sure that I spend as much time with them as I can while I can.

BEG · « **Reply #3 on:** June 16, 2009, 02:00:09 PM »

I don't want to move....damn it. K should get three times his base salary to move because of how f*cked up CA is.

Wineslob · « **Reply #4 on:** June 16, 2009, 02:06:52 PM »

If I'm correct, our DUmbass Gov will not CUT the funds to illegals.

Chris_ · « **Reply #5 on:** June 16, 2009, 02:18:03 PM »

Quote from: Wineslob on June 16, 2009, 02:06:52 PM

If I'm correct, our DUmbass Gov will not CUT the funds to illegals.

Hell, on Guv DUmbass' scales of "Justice", illegals get PRIORITY funding from teh gummint.

Lord Undies · « **Reply #6 on:** June 16, 2009, 02:20:40 PM »

Quote from: BEG on June 16, 2009, 02:00:09 PM

I don't want to move....damn it. K should get three times his base salary to move because of how f*cked up CA is.

I could be worse, dear. You could be looking for an apartment in New York. You know, one of those million dollar apartments where your bathtub is also your dining room table.

Hawkgirl · « **Reply #7 on:** June 16, 2009, 02:33:21 PM »

Hey American voters.....See California? The entire country will follow if we implement those same liberal standards.

Maybe there is a silver lining?

Carl · « **Reply #8 on:** June 16, 2009, 02:51:14 PM »

The same with NY.

Our generous state pension fund was busted in the last recession after 9/11 and it almost bankrupted the counties making up the shortfall.

Last year it was at record levels but guess what it is broke again...no mechanism was ever put in place to protect it from downturns nor a stop loss of benefits if there is a problem with the investments.

Thank you unions and libs for destroying the state.

The Village Idiot · « **Reply #9 on:** June 16, 2009, 03:37:43 PM »

great pic

Karin · « **Reply #10 on:** June 18, 2009, 02:06:45 PM »

I know, Carl. In New York, if you have certain state jobs, you can retire at the frigging age of 40-45 with full pension and bennies!!! That's a young man/woman, fresh for a brand-new career! Completely unsustainable, and extremely unfair to the rest of us. Ex-state troopers and prison guards building mansions.

The picture posted on the OT reminded me of a caller to Rush yesterday. He had Obama buyer's remorse, because the free money was going to bailouts of businesses and not to him, personally.

Rebel · « **Reply #11 on:** June 18, 2009, 02:24:58 PM »

The Village Idiot · « **Reply #12 on:** June 18, 2009, 04:20:06 PM »

Quote from: Rebel on June 18, 2009, 02:24:58 PM

lol

LoveME · « **Reply #13 on:** June 19, 2009, 09:36:47 PM »

California is the only state where you won't receive a credit card while you have a job. You have to wait until you lose it. This makes no sense. Also the company you have to call to activate the said card is in india. Walmart doing deals with India? First China now India? Makes no sense.

I know exactly what california's problem is. They need to invest more in California not in other countries like Inida or China. Start making more california only products. Make a push to invest in America. Force these sub prime lenders to change their lending pracitices. If they are going to lend here in America, we should have Americans answering the phones.This will create more jobs not only in the private sector but in the public sector.

Celtic Rose · « **Reply #14 on:** June 20, 2009, 12:11:59 AM »

Quote from: LoveME on June 19, 2009, 09:36:47 PM

California is the only state where you won't receive a credit card while you have a job. You have to wait until you lose it. This makes no sense. Also the company you have to call to activate the said card is in india. Walmart doing deals with India? First China now India? Makes no sense.

I know exactly what california's problem is. They need to invest more in California not in other countries like Inida or China. Start making more california only products. Make a push to invest in America. Force these sub prime lenders to change their lending pracitices. If they are going to lend here in America, we should have Americans answering the phones.This will create more jobs not only in the private sector but in the public sector.

Umm, I have no idea where you got the idea about California credit cards and jobs. They are ridiculously easy to get, but having a job certainly isn't a deterrent. California's problem is too many bleeding heart liberals spending money without doing some basic accounting and ledger balancing, and supporting a huge group of people who are here illegally.

LoveME · « **Reply #15 on:** June 20, 2009, 01:52:01 AM »

Quote from: Celtic Rose on June 20, 2009, 12:11:59 AM

Umm, I have no idea where you got the idea about California credit cards and jobs. They are ridiculously easy to get, but having a job certainly isn't a deterrent. California's problem is too many bleeding heart liberals spending money without doing some basic accounting and ledger balancing, and supporting a huge group of people who are here illegally.

In Madera CA The town that I live in.. I applied at the local walmart for a credit card.. and this was when I had a job working at homedepot..(this is all while im making plans for school) Unfortunately they didn't give me a credit card. I think it was because I didn't have enough credit history. Even though I had just got a job and was ready to create good credit for myself. My plan was to open a credit card and then buy something like a game at walmart and then close the card after paying it off. Well I guess something went wrong with my plan cause I was not able to get a card at walmart.

This shows the state Califronia is in. They don't know when to offer credit to good people and they don't know when to take away credit from the bad people. Also they don't know who should be the one lending, Foreign credit companies, or American. Like I said!

Lord Undies · « **Reply #16 on:** June 20, 2009, 07:10:12 AM »

Quote from: LoveME on June 20, 2009, 01:52:01 AM

In Madera CA The town that I live in.. I applied at the local walmart for a credit card.. and this was when I had a job working at homedepot..(this is all while im making plans for school) Unfortunately they didn't give me a credit card. I think it was because I didn't have enough credit history. Even though I had just got a job and was ready to create good credit for myself. My plan was to open a credit card and then buy something like a game at walmart and then close the card after paying it off. Well I guess something went wrong with my plan cause I was not able to get a card at walmart.

This shows the state Califronia is in. They don't know when to offer credit to good people and they don't know when to take away credit from the bad people. Also they don't know who should be the one lending, Foreign credit companies, or American. Like I said!

I'm confused. Are you saying the state of California makes all of Walmart's credit card underwriting decisions within the state of California?

dutch508 · « **Reply #17 on:** June 20, 2009, 07:23:53 AM »

Quote from: Lord Undies on June 20, 2009, 07:10:12 AM

I'm confused. Are you saying the state of California makes all of Walmart's credit card underwriting decisions within the state of California?

More like, you have to work a few months in order to get your credit rating up.

Lord Undies · « **Reply #18 on:** June 20, 2009, 10:02:37 AM »

Quote from: dutch508 on June 20, 2009, 07:23:53 AM

More like, you have to work a few months in order to get your credit rating up.

It is still not clear to me. Does the state of California control the credit reporting agencies in the state? I've never heard of this being the case anywhere. Of course, we are speaking about California. Anything weird is possible.

LoveME · « **Reply #19 on:** June 21, 2009, 02:20:27 AM »

Quote from: dutch508 on June 20, 2009, 07:23:53 AM

More like, you have to work a few months in order to get your credit rating up.

So that must mean walmart looks at my bank account and where I have worked in the past. All of this instead of looking at my current employers phone number on the application? Could this mean my employer was broke at the time or was cooking the books??

Celtic Rose · « **Reply #20 on:** June 21, 2009, 09:54:57 AM »

Quote from: LoveME on June 21, 2009, 02:20:27 AM

So that must mean walmart looks at my bank account and where I have worked in the past. All of this instead of looking at my current employers phone number on the application? Could this mean my employer was broke at the time or was cooking the books??

No, when you apply for a credit card, they pull up your credit report and decide whether or not to issue a credit card based on that. If you have no credit history, that could be the reason they denied you a credit card. It probably has very little to do with your employment status.

If you want a credit card to start some credit history, it may be a good idea to go to your bank and get one. I know that Wells Fargo and Bank of America issue credit cards, and I'm sure that many others do as well. If you have a bank account with them already, and employment, they may be more will to issue a credit card without a great deal of credit history.

DumbAss Tanker · « **Reply #21 on:** June 22, 2009, 01:07:35 PM »

Quote from: thundley4 on June 16, 2009, 01:33:00 PM

"WASHINGTON (Reuters) - The White House on Tuesday dashed hopes that the federal government would help California overcome a mammoth budget crisis that has brought the state dangerously close to an economic meltdown, saying California will have to solve the problem on its own.

"It's obviously not an easy time for the state of California," White House spokesman Robert Gibbs told a briefing when asked if the administration would provide emergency financing for the state.

"We'll continue to monitor the challenges that they have, but this budgetary problem unfortunately is one that they're going to have to solve," Gibbs said.

California's revenues are plunging amid recession, rising unemployment and the prolonged housing crisis, and the state is unable to borrow its way out of its immediate financial trouble by issuing debt because of its budget gap.

It will run out of cash within weeks if it does not balance its books, according to State Controller John Chiang, who estimated last week California was "less than 50 days away from a meltdown of state government."" Rueters

Good. With some people, the only way they learn that actions have consequences is to let them suffer those consequences.

Bluesuiter-Retired · « **Reply #22 on:** June 26, 2009, 02:25:31 AM »

KOOK-uh-PORN-e-uh will be officially broke on July 28th. After that, things sure will get interesting there.

The longest I ever spent in that "state" was 12 hours waiting to catch Stretch 8 at Travis AFB bound for an overseas assignment.

I never left anything there, so I have no reason to return, nor a reason to visit, so it wouldn't bother me in the least if the "big one" hit and dropped the area west of the San Adreas fault into the ocean.

Lacarnut · « **Reply #23 on:** June 26, 2009, 04:55:41 AM »

What is so mind boggling to me is that between the liberals and tree humphers, they keep passing Env. programs that stifle business by raising cost and then are too stupid to understand that they can not tax their way out of the excessive spending habits. Arnuld and the dummy legislature could promote offshore drilling for oil and gas which would create thousands of jobs and a great deal of revenues. They are too ignorant to do that.

NHSparky · « **Reply #24 on:** June 26, 2009, 05:00:50 AM »

I guess that rumble I'll be hearing in a month or so will be AZ, NV, and OR cutting loose the anchor bolts and letting that cesspool CA drift out on its own.

BTW--anyone seen the difference in U-Haul rates LEAVING CA versus going there? Telling tale, that one is...a 26-foot truck going from Long Beach, CA, to Dallas, TX, is $2194, assuming pickup 4 weeks from today. Going from Dallas to Long Beach? $667, or just over 30 percent of the cost of going the other way.

News:

Author Topic: White House dashes hopes of California budget help (Read 7307 times)