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Everyone is agreeing to disagree up in Sacramento. Governor Arnold Schwarzenegger, Democrats and Republicans are all bickering about their solutions as the state's budget forecast gets more turbulent every day.
"The Democrats want to block cuts to state government spending, and the Republicans want to block revenue increases because they have signed pledges to protect special interests," Schwarzenegger spokesman Matt David said in a statement yesterday. "Legislators were sent to Sacramento to fix problems, but now what they're doing is making the situation worse."
And if no agreement is come to, state Controller John Chiang says the state could run out of money in two months forcing billions of dollars in payments to contractors to be deferred or given in the form of IOUs. "The state's dire cash position not only jeopardizes and places at risk our ability to meet our financial obligations in a timely manner, it threatens our ability to respond to natural disasters and protect our communities from crime."
But Schwarzenegger's mantra is blame the legislature. "For weeks and weeks now the legislators have postured and played political games while the deficit grew larger and larger," Schwarzenegger said at a press conference yesterday about funds cut from the 405 Freeway HOV lanes and other projects in Los Angeles. "And that’s why I have a clock out in front of my office that shows that every hour we are wasting $1.3 million, every day we are wasting $40 million, every month we are wasting $1 billion."
But Assembly Speaker Karen Bass, a local democrat, doesn't see it that way. "The single biggest roadblock to having construction on the 405 (freeway) move forward is Arnold Schwarzenegger," she said referring to the unsigned $18 billion package that Democrats sent him last week.
Photo Courtesy of the Office of the Governor
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They are both to blame... Republicans and
Democrats, but mostly Democrats and the Governor.
The Democrats have had power in Sacramento for over a decade, the Governor is a fraud and has been wreck less.
I blame the union organizations in this state, and all the voters that vote YES on the bond initiatives.
Those two are really to blame for CA problems.
Unions push the legislators to do things that don't work. And the people vote for bonds without a clue as to how bonds work, and what financial effects they have.
Of course, all this comes as no surprise in the leading foreclosure and bankruptcy state. Of course the voters will vote yes for ideals and not to think of the bottom line.
Sadly, what no one wants to admit to, dealing with the budget is more complex than just cutting and taxing. That won't be enough, and that won't work.
I had a feeling you'd chime in on this one troj.
"Unions push the legislators to do things that don't work."
But corporate entities like oil companies, energy companies, communications companies, etc. don't?
Largest employer in the state of ca is the STATE OF CA.
Most state employees are UNION employees.
Who has more weight? The Corp with limits on donation and small work force, or the unions with NO limits on donations, and a larger base to provide grass roots (i.e. strong arm voters) support to politicians?
Unions are demagogic... if you don't vote our way people, the bad people will ruin your lives?
Really, so what bad people ruined the state of CA the last 12 years?
Must not be the people who have been in charge, or the people who contributed the most amount of money, or the people who pushed for bond initiatives that REQUIRE union employees!
No, lets blame Chevron who paid $13.5 BILLION (41.5% of their profit) in taxes last year.
I'd like to see a link to that 41.5% figure.
But if you want to compare the amount of money contributed to politicians of both parties by various corporate interests vs various union interests, the corporate money dwarfs the union money.
"Who has more weight? The Corp with limits on donation and small work force..."
From the link;
https://caclean.org/problem/sacbee_2008-10-06.php
Special-Interest Spending Takes Off
By Shane Goldmacher
The deluge of independent spending by special interest groups keen on swaying the makeup of the Legislature has begun, as well-heeled groups have showered nearly $1 million in the last week on their favored legislative candidates.
And that is only the beginning.
"Independent expenditure" campaigns are outside the control of the Democrats and Republicans running for state Assembly and Senate.
They are an outgrowth of voter-approved caps on direct contributions that those same interests can make to the candidates themselves. Unable to give as much as they want directly, Sacramento's wealthiest interests have set up independent committees for political campaigns.
Quoting a Schwarzenegger spokesperson is always asking for trouble. Republicans were not elected to increase taxes and Democrats were not elected to reduce spending.
One man was elected to fix the budget's structural problems … that was Schwarzenegger … and five years later, he's created a bigger mess than Gray Davis was ever capable of.
California is a failed enterprise. It shouldn't be bailed out; it should go bankrupt, start over, renegotiate everything.
"California is a failed enterprise. It shouldn't be bailed out; it should go bankrupt, start over, renegotiate everything."
I disagree. I think renegotiating the state's accumulated debt would be bad for California, bad for any other state that relies on credit, and bad for the US economy as a whole.
Whasssup troj? Can't find a link to that 41.5% figure?
If so I'm going to call bullshit.
solomon, I agree with you. The Governor is the hammer to the nails provided by the legislature for the coffin that holds California's remains.
California should just stop paying on the bonds they've taken out, go bankrupt, reorganize and start from scratch.
Davis screwed up but he had the brains to steer this ship. Arnold has no brains.
JRB, go look up the Chevron's annual report. In 2006 they paid closer to 45% in taxes.
"JRB, go look up the Chevron's annual report. In 2006 they paid closer to 45% in taxes."
No, no, you made the claim, you provide the link.
try this link: http://www.chevron.com/annualreport/2007/financials/consolidatedfinancialstatements/consolidatedstatementincome.aspx
2007: 42% of profit to taxes
2006: 46% of profit to taxes
let me know if you want me to show the math for you, too.
Well just jump right in there itmnd.
Since you'd like to be part of the debate, I hope you deducted the $2.38bn that Chevron recieved in subsidies.
source...
http://www.pppra-nigeria.org/briefonpsf2007.pdf
What does that make their percentage now, (since you're so fond of math).
ouch.
Well geeze troj, itmnd, while we're on the subject of these poor tax abused oil companies I found an interesting report...
from the link
http://www.foodandfuelamerica.com/2008/07/big-giveaways-to-big-oil-exposed.html
"The new report (pdf) reveals that oil companies are given “at least $23.2 billion from tax loopholes, $3.8 billion in royalty rollbacks, $1.6 billion in direct subsidies for research and development, and $4.3 billion through accounting gimmicks.”"
You can follow the link (pdf) they give for all the actual figures.
So yea, I'm real broken up about all the taxes Chevron allegedly pays. (you sure you wan to stick to that 46% figure guys?)
JRB, since you're an admitted socialist tool, I will respond to you because you do nothing on this site but disparage the American Capitalist that has given you all the comforts of your life.
The taxes companies pay, be it an oil company or a mom and pop company, is derived from calculating every source of INCOME (Revenue) and deducting the expenses. If your read the link that was given to you, you will see another area that speaks of other income. Other income includes subsidies, royalties etc. Now, you take all of that, substract expenses you get NET INCOME, which gets TAXED. Which is where the 42 and 46% comes from.
Obviously you don't understand math, economics, business practices, or what we like to GAAP. So you'll ignore everything that is true, an continue to spout all of your BS.
Have fun JRB... and if I don't get back to you before...(I doubt I won't) Merry xmas!
Now you can attack me for not being politically correct!!!!LOL.
Well trojie I think maybe you don't fully know what Mixed Economy Socialism is. There is a pretty accurate definition is available on Wikipedia if you're really interested. Suffice it to say that Mixed Economy Socialism is practiced in Canada, Sweden, Netherlands, UK, and many other countries that have robust Capitalist economies, and show no signs of becoming Communist. The Mixed Economy part means that Socialism is dependent on the Capitalism and vice versa.
"Other income includes subsidies, royalties etc..."
Yea trojie, believe it or not I do my own taxes every year, so I'm kind of familiar with how that works. I also know that taxes are enforced on the honor system basis unless a company or individual gets audited. Also, "Other Income" doesn't account for, creative accounting, royalty rollbacks, or favors received from kickbacks and bribery. You may remember that the agency that was supposed to be regulating oil companies was recently exposed as being rife with corruption from oil company executives.
Oh and Happy Holidays. I sa
"Merry xmas!
Now you can attack me for not being politically correct!!!!LOL."
Sure troj. I attack everyone who wishes me a Merry Christmas.
It's in the "How to be a Socialist" handbook.
I think you listen to Rush and Co. too much.
The reason I say Happy Holidays is to be inclusive. By saying it that way I've included Jews, Christians, Muslims, Wiccans, and anyone else who celebrates a Holiday this time of year.
I'm not offended by anyone saying "Merry Christmas". You and your ilk seem to be the ones offended by someone saying "Happy Holidays" instead.