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Title: Shortfall in California’s Budget Swells to $16 Billion (Moonbeam says Obama blocking budget cuts)
Source:
Infowars/NY Times
URL Source: http://www.infowars.com/shortfall-i ... s-budget-swells-to-16-billion/
Published: May 13, 2012
Author: ADAM NAGOURNEY
Post Date: 2012-05-13 19:44:25 by Hondo68
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Keywords: new spending cuts, reductions to schools health c, illegal aliens & slut supplies
Views: 95585
Comments: 211
LOS ANGELES — The state budget shortfall in California has increased dramatically in the last six months, forcing state officials to assemble a series of new spending cuts that are likely to mean further reductions to schools, health care and other social programs already battered by nearly five years of budget retrenchment, state officials announced on Saturday. Gov. Jerry Brown, disclosing the development in a video posted on YouTube, said that California’s shortfall was now projected to be $16 billion, up from $9.2 billion in January. Mr. Brown said that he would propose a revised budget on Monday to deal with it. “We are now facing a $16 billion hole, not the $9 billion we thought in January,” Mr. Brown said. “This means we will have to go much further and make cuts far greater than I asked for at the beginning of the year.” Mr. Brown disclosed the news in a video that had all the trappings of a campaign announcement. In it, he aggressively accounted for the steps he said he had taken to try to scale back a $26 billion deficit he found upon taking office. And he urged viewers to back an initiative he is putting on the November ballot that would increase sales taxes by 0.25 percent and impose an income tax surcharge on wealthy Californians to try to stave off more cuts.
Poster Comment: Barack 0'bush forced Arnold Moonbeam to spend like crazy, and regulate until business left the state. Such a sad story from the D&R party. parasites
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Begin Trace Mode for Comment # 158.
#2. To: hondo68 (#0)
Who would have ever thought that taxing the hell out of the productive people so the parasites could live comfortably without working would come to financial disaster? Especially with the productive taxpaying citizens leaving the state in droves while the state continues to not only support the parasites in style,but even invite more parasites in from foreign countries? What could have possibly gone wrong?
$16 Billion is peanuts. California's in better shape than 90% of the OECD. Just secede from the Failed States of Amerika and become the 6th largest Economy in the World. Ex. How can the Racist Israelis Field the 4th Largest Military in the World. Expecting Silence.....crickets gently chirping....;}
Because they don't have to pay for it. But I don't really give a rabid rats ass about Israel. What I want to know is how are WE going to continue to keep the military industrial complex humming away making record profits when there is no money there to pay them?
Our standard of living will approach that of the current 3rd World. This is inevitable now, its just a question of how long it will take to slide down and how the society will adjust to the new reality.
To look at this whole post from a Fourth Turning perspective, how does this Turning differ from the American Revolution, the Civil War, and the Great Depression? In each of those prior Turnings our Society was accessing Greater Wealth and Power. After the American Revolution, we were accessing the vast Wealth of the North American Continent and all its Resources. After the Civil War, we were accessing the thermodynamic energy of Coal and beginning the Industrial Revolution. After the Great Depression and WWII, we were accessing the thermodynamic energy of Oil and growing into the Information Age. What is there left for us now to grow into after THIS Fourth Turning. I put to you that we have nothing left to grow into now, and so we must as a species go into a period of shrinkage that we have not experienced since the Dark Ages and the Black Plaguei (sic). Like the original Dark Ages, I think this period will last near a Millenia, and who we are and how we come out of this at the end is anybody’s guess. We may never come out of it and go the way of the Dinosaur, that remains a possibility, but one I hope does not come to pass."
That was a bad, bad post on your part. It suggests that you didn't study your history books. Contrary to your opinion, it is individual human thought, human imagination, human inventiveness and human spirit that leads the course of human events; we are not lagging or after the fact as you prophetically say. I hope you don't mind me stepping on your clumsy tippy-toes, but you are full of "hot-aire." I shall itemize your silly post into easily understood "mcgowanjm guffaws" for you to recognize. mcgowanjm guffaw#0: Bad lead-in to your arguments, mcgowanjm. Here is why: That is false. America (or the 13 colonies) were already involved with HUGE stakes of natural resources BEFORE the American Revolution. As one example: the American or Yankee Clipper Ships was built out of the NorthEast from natural timber. Those same ships were the fastest on oceanic travel and were principally purchased by Britain. In a true sense, America ensured the demise of the Spanish Armada, freeing Britain for world conquest after defeating Spain. mcgowanjm guffaw#2: The Great American Civil War (the war between the North and South) was circa ~1863 for some four years later. Much of the infrastructure of America was in a state of economic shock because of the war; this is true especially for the South; it was the bloodiest war that America has EVER fought. Prior to the Civil War, the North maintained about 80% of the railways in America. The railways were an offshoot of technology from Europe built upon the pre-existing two-wheeled donkey carts from the older Roman Empire. I am not suggesting the Roman Empire created railway systems. I am suggesting the Roman Empire created roads EVERYWHERE in Europe and around the Mediteranian ocean. And, as a result, those same well-traveled paths of nearly 2000 years were used for the creation of a railway system. America came at the right time to take advantage of that technology. Even to this day, America's railway system is inferior to Europes by ORDERS of magnitude. Europe created the precursors of the Industrial Revolution several hundred before the America Civil War. We were just lucky in time and space when looking back to have taken advantage of the technologies that later came AND the America built upon, leading the world. mcgowanjm guffaw#3: Incredible statement. The modern world of telecommunications occured with Joseph Henry. He created the electro-magnetic coil which in turn lead to the technology of morse code or telography or the telegraph. This happened even BEFOR the Civil War, my friend. What you are referring to is the US government's research into semi-conductors after WW2 because of the earlier technological considerations about radio and telecommunications problems for weight and power consumption in wartime. The vacummum tube was invented WAYYY before the Great Depression to include my great-grandfather's video graphic tube. mcgowanjm guffaw#4: Nothing. Absolutely nothing. Based on your reasoning we should just join some cult and take a pill because a comet streamed by and we can't do anything about it. mcgowanjm guffaw#5: The DARK AGES were before the Black Plague; it occured during the decline to the Roman Empire, circa ~300 AD to ~1300 AD. At that time a religious monstrousity was built from the religious nutcases called "Catholics" that subjugated their own people. They were more brutal than even the Romans were. Because the "Catholics" went into decline for hundreds of years, fucking everyone to include Jews and Muslims in Jerusalem, a few folks went to China for increased trade benefits. Marco Polo unintentionally brought back the Black Plague in about 1300. This disease destroyed about 60% of Europe's population base. More than that, the Black Plague stopped the silly Crusades and destroed the power of the Holy Roman Empire's Pope. This human blight created an all-new way viewing the world in the Renaissance period, circa ~1350. As a recommendation, please re-think your own posts. You can research everything I have discussed. But, one FACT remains: you don't know what you have talked about.
Thanx, bucky...;} Did just that. Standing by Everything I posted....good luck with your handling the Collapse now...;} A sub-editor gleefully coined the headline “Dimon is a Whale of a Hedge Fund Manager”. But the losses raise serious issues. As they do not relate to the usual “rogue trading” incident which is typically dismissed as impossible to detect or control, the episode provides insights into the problems of modern high finance, bank strategies and regulation of markets. Details are sketchy. The losses relate to a position taken to “hedge” a US$300+ billion investment portfolio managed by JPM’s Central Investment Office (“CIO”) overseen by staff including experienced hedge fund investment managers. The portfolio has increased in size from $76 billion in 2007 to $356 billion in 2011.
There are no replies to Comment # 158. End Trace Mode for Comment # 158.
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#3. To: sneakypete (#2)
#5. To: mcgowanjm (#3)
Ex. How can the Racist Israelis Field the 4th Largest Military in the World.
#8. To: sneakypete (#5)
What I want to know is how are WE going to continue to keep the military industrial complex humming away making record profits when there is no money there to pay them?
#9. To: All (#8)
#132. To: mcgowanjm (#9)
To look at this whole post from a Fourth Turning perspective, how does this Turning differ from the American Revolution, the Civil War, and the Great Depression? In each of those prior Turnings our Society was accessing Greater Wealth and Power. After the American Revolution, we were accessing the vast Wealth of the North American Continent and all its Resources.
mcgowanjm guffaw#1:
After the American Revolution, we were accessing the vast Wealth of the North American Continent and all its Resources.
After the Civil War, we were accessing the thermodynamic energy of Coal and beginning the Industrial Revolution.
After the Great Depression and WWII, we were accessing the thermodynamic energy of Oil and growing into the Information Age.
What is there left for us now to grow into after THIS Fourth Turning.
I put to you that we have nothing left to grow into now, and so we must as a species go into a period of shrinkage that we have not experienced since the Dark Ages and the Black Plaguei (sic). Like the original Dark Ages, I think this period will last near a Millenia, and who we are and how we come out of this at the end is anybody’s guess.
#158. To: buckeroo (#132)
As a recommendation, please re-think your own posts. You can research everything I have discussed. But, one FACT remains: you don't know what you have talked about.
Replies to Comment # 158.
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