Ah the next Barry bail-out...Kalifornia

[dude1394]

Hmm...aren't we supposed to be emulating Kalifornia across the land? Oh yeah...I think we are...

I can't decide which will be first, GM or Kalifornia. I expect Kalifornia as he can just throw money to back their junk bonds...then GM...there's a UAW membership to protect there and that will require some finessing.

19 May 2009 05:48 pm
Is California Too Big to Fail?

So what about California? A reader asks. Ummm, that's a tough one. No, wait, it's not: California is completely, totally, irreparably hosed. And not a little garden hose. More like this. Their outflow is bigger than their inflow. You can blame Republicans who won't pass a budget, or Democrats who spend every single cent of tax money that comes in during the booms, borrow some more, and then act all surprised when revenues, in a totally unprecedented, inexplicable, and unforeseaable chain of events, fall during a recession. You can blame the initiative process, and the uneducated voters who try to vote themselves rich by picking their own pockets. Whoever is to blame, the state was bound to go broke one day, and hey, today's that day!

[dude1394]

Hmm...I could be wrong on this bailout. One thing barry knows is politics.

http://pajamasmedia.com/instapundit/78990/

RASMUSSEN: Voters strongly oppose federal bailout for California: “Twenty-four percent (24%) of voters nationwide favor federal bailout funds for states like California that are encountering ’serious financial problems.’ The latest Rasmussen Reports national telephone survey found that 59% are opposed to such bailouts.”
So better than 2-1 against. But wait, there’s more: “Voters from outside the Golden State oppose federal loan guarantees by a 69% to 20% margin.” But there’s also this: “Voters have consistently opposed federal bailout funds for the auto industry, the banking industry and insurance companies. Looking back on the bailouts that were provided, most continue to believe they were a bad idea.”
So why did we get them anyway? An answer: “As on many issues, the difference in opinion between the Political Class and the rest of the nation is larger than the gap between the political parties.”

[Mavdog]

just what is your point of misspelling california with a "k"?

[dude1394]

I'm having fun imitating Arnold. Lighten up.

But this looks like the path Barry will probably go with it. Give 'em some money and then begin trying to force constitutional changes on 'em. Instead of letting them learn from themselves.

http://www.nytimes.com/2009/05/22/op...=1&ref=opinion

Others in Sacramento — including the Assembly speaker, Karen Bass, and the state treasurer, Bill Lockyer — are investigating the possibility of federal assistance. This could take several forms. The Treasury could offer guarantees on any short-term bonds that California sells to raise cash. Or money from the Troubled Asset Relief Program could be used to backstop such notes. Or Washington could speed up some of the stimulus money earmarked for the state.


Each of those ideas, or a combination of the three, offers hope. However, as a condition of any assistance, the federal government should charge the state a fee that includes penalties if it fails to make major changes in its budgeting process. At a minimum, California should be required to submit for federal approval a multiyear plan to meet its obligations and to eliminate its structural deficit. Washington might also require the establishment of a board to oversee state finances. (Federal loan guarantees to New York City in the 1970s provide one model.)


There would be fierce resistance to federal aid. Other states may wonder why California deserves special attention — it’s a fair point, and it might be wise for the government to offer similar guarantees to other states in distress. California officials might worry about the loss of sovereignty. And Democrats in the administration and Congress, many of them Californians, may be tempted to help a Democratic state without conditions.



But they shouldn’t. By attaching strings to any aid, the federal government would give the state its best chance at saving itself.



Most important, President Obama should press California’s elected officials and its voters — 61 percent of whom supported him last November — to make constitutional changes. Among these would be the elimination of the gridlock-creating two-thirds vote for budgets and tax increases, and new curbs on ballot initiatives that mandate spending for popular programs without identifying new tax dollars to pay for them.

[Mavdog]

Originally Posted by dude1394

I'm having fun imitating Arnold. Lighten up.

that makes no sense whatsoever. do you not pronounce california with a hard c that sounds like a k?

so just who are you "imitating"?

it's not about "lighten up", it's about understanding inane.

[dude1394]

Ah hear what you want to hear. Sorry to peg your inane meter....can't have fun around some folks I guess.
Me and the other inane folks will just keep having some fun.

Why does Arnold Schwarzenegger pronounce California, "Kaulifournya"?
You can understand what is being said regardless of pronunciation. It's not like you need subtitles. Well maybe you do in Arnold's case but you get the point.

[92bDad]

Originally Posted by Mavdog

that makes no sense whatsoever. do you not pronounce california with a hard c that sounds like a k?

so just who are you "imitating"?

it's not about "lighten up", it's about understanding inane.

What are you implying that he's implying?

When I saw the "K", I immidiately thought of the Govenator...I don't however understand what or if you are implying anything?

[Mavdog]

are you implying that he is implying something?

guess the only thing I'm implying is that using a k to spell california isn't humourous, isn't creative, and falls flat as a pancake.

[Underdog]

Now you can all move on...

[dude1394]

Originally Posted by Mavdog

are you implying that he is implying something?

guess the only thing I'm implying is that using a k to spell california isn't humourous, isn't creative, and falls flat as a pancake.

that's why the world is so full of the vast cornucopia of humankind....so that folks do not have to humour only a few.

Actually you could make a case that I was just conserving green-house gases because the k is easier to type than c. That should make it a mandate I expect.

[dude1394]

Dang...Barry must have written an un credited op-ed in the NYTimes under someone else's name. This is rich....tax increases are A-OK because they don't hurt the economy, but BUDGET CUTS will hurt the economy because of all the money that will be pulled out of the economy and left to the people to spend. Where have I heard that before?? Oh yeah...I think it was when someone proposed a 1.8 trillion dollar budget.

http://www.nytimes.com/2009/05/24/op...ef=todayspaper

What the Obama administration should make clear is that a bias for spending cuts — and against tax increases — is the wrong approach for California and other states. Both spending cuts and tax increases are harmful in a downturn, because they reduce already weak consumer demand. But most states are required by law to balance their budgets, so when deficits emerge, they are forced to do one or the other, or both.

Contrary to conventional wisdom, raising taxes may be better than spending cuts because tax increases, especially if they are focused on wealthy taxpayers, have less of a negative impact on consumption. Spending cuts hit consumption hard, depriving the economy of money that would otherwise be spent quickly. They also have the disadvantage — so evident in the cuts proposed by Mr. Schwarzenegger — of falling heavily on the needy.

[12 Tone Melodies]

Originally Posted by Mavdog

...guess the only thing I'm implying is that using a k to spell california isn't humourous, isn't creative, and falls flat as a pancake.

You have a point: http://www.imdb.com/title/tt0107302/ It was pretty dismal

[mcsluggo]

Originally Posted by 92bDad

What are you implying that he's implying?

When I saw the "K", I immidiately thought of the Govenator...I don't however understand what or if you are implying anything?

wait. Just who are your implying should feel the implication from these overt implied implications?

NOW I am pissed.

[DirkFTW]

These poor bastards will now need to find a way to live on a regular person's salary.

http://myprops.org/content/S.F.-is-g...ef=patrick.net



Ugh, I should have studied to be a Special Nurse. Or even a Police Officer II.