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50 days until California achieves Libertarian paradise!

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phantom power Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:06 PM
Original message
50 days until California achieves Libertarian paradise!
I can only imagine Grover Norquist furiously masturbating in anticipation.

SAN FRANCISCO (Reuters) - California's government risks a financial "meltdown" within 50 days in light of its weakening May revenues unless Governor Arnold Schwarzenegger and lawmakers quickly plug a $24.3 billion budget gap, the state's controller said on Wednesday.

Underscoring the severity of California's cash crisis, Controller John Chiang, who has previously warned the state's government risks running out of cash without a budget deal, said revenues in May fell by $1.14 billon, or 17.7 percent, from a year earlier.

Additionally, the revenues of the government of the most populous U.S. state fell short of estimates in Schwarzenegger's budget plan by $827 million, Chiang said.

He warned California's state government is speeding toward a financial disaster unless officials act urgently to balance its books.

http://www.reuters.com/article/domesticNews/idUSTRE55974820090611?feedType=RSS&feedName=domesticNews

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damntexdem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:15 PM
Response to Original message
1. Is that before or after it crumbles and falls into the sea?
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phantom power Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:20 PM
Response to Reply #1
3. I think Revelations prophesizes a 1000-year Libertarian reign...
and then there will be the second coming of Ayn Rand, and then CA falls into the sea.

Or something. I'm pretty sure that's how I remember it.
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leftstreet Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:19 PM
Response to Original message
2. Grover Norquist masturbating...excuse me while I go clorox my brain
Thanks

:puke:
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phantom power Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:24 PM
Response to Reply #2
4. Yeah... my bad. Now I can't get the visions out of my head either.
:banghead:
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jgraz Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:24 PM
Response to Reply #2
5. Norquist masturbating? Do they *make* tweezers that small?
:shrug:
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gratuitous Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:24 PM
Response to Original message
6. Didn't they recall Gray Davis for less?
I wonder when all this vaunted Republican fiscal responsibility is going to show up? Surely Darrell "Crybaby" Issa has some major plan in the works, no?
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Cleita Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:32 PM
Response to Reply #6
9. Yep, but I doubt if we can convince Issa and his deep pocket financiers,
from those back east conservative think tanks, to pony up the funds for another recall. That action was all bought and paid for by the same interests who have brought this country to the brink of economic chaos.
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:27 PM
Response to Original message
7. Californians have nobody but themselves to blame for this mess
The passage of Prop. 13 doomed the state decades ago. Now, even with disaster staring them in the face, the state government and the people refuse to consider raising tax rates. So the inevitable is going to happen, California is going to collapse, and probably take the rest of the country with it.
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phantom power Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:29 PM
Response to Reply #7
8. I expect in reality, they'll pass some emergency something and limp along...
But it surely would be interesting if this game of Chicken proceeds to its logical conclusion...
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:40 PM
Response to Reply #8
12. They may pass some emergency something or another, but I really doubt it.
I think that they've pretty much tapped out their various last ditch strategies. I think that at this point Arnie and the folks in the state government are hoping for some sort of federal bailout. If this is what they're angling for, I say no bailout without repeal of Prop. 13 first.

I really don't want to see this proceed to its logical conclusion. Having the world's eighth largest economy collapse would not help out the rest of the country at all right now. Not to mention there would be a massive migration of people, thus swamping the job market in other states. I graduate with an education degree next spring, and it's already becoming tough to find a teaching job in my area. I don't need to see teachers flooding the market, coming in from California or elsewhere.
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WI_DEM Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:36 PM
Response to Original message
10. Recall Arnold!!! CA has deteriorated under his watch. Hope voters are satisfied.
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Lydia Leftcoast Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:36 PM
Response to Original message
11. Libertarian and Libertarian-Lite policies inevitably lead to Third World status
If you look at countries around the world, the poorest countries all feature low taxes, no public services to speak of, and no "government interference" in the relationship between employer and employee.

According to the Libertarians, the result should be heaven on earth.

Well, it is, if you're one of the wealthy. You can live in a palatial estate with a personal servant for every member of the family, hire private tutors for your children before sending them to Ivy League, hire a private security force, keep a generator and a water purification system on your property, order your clothes directly from fashion designers, and go to the Mayo Clinic for medical treatment.

For the rest of population, it's not so heavenly. You probably live in a tin and cardboard shack and if you're LUCKY you get to be a servant for some rich guy, because then you can at least eat his leftovers--if he'll let you. You're illiterate and know that your children will be illiterate because you can't afford to send them to school. You live in fear of the criminal gangs that roam your neighborhood as the police look the other way. Your one set of clothing is falling apart. You have no electricity, no running water, and no indoor toilet. If you get sick, you either get better on your own or die.

Not exactly heaven. Quite the opposite.
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QC Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:45 PM
Response to Reply #11
14. Very true. n/t
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madrchsod Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:45 PM
Response to Original message
13. remember california is in the top ten of economies in the world
general motors was once the biggest corporation in america now it`s bankrupt

will california join general motors in bankruptcy? i think they will
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ContinentalOp Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 04:13 PM
Response to Reply #13
19. Yep, but will we get a Federal bailout?
Hell no! We're not a private corporation after all. We're just the largest state in the union! So fuck us!
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jody Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:50 PM
Response to Original message
15. I couldn't find in the article either Libertarian or Norquist. Is the link correct?
Edited on Thu Jun-11-09 03:53 PM by jody
What is your position on "pay-as-you-go" policies that have a distinctly libertarian flavor?
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crimsonblue Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:52 PM
Response to Original message
16. Hmm... looks like the roosters of 70's tax law are coming home to roost...
I wish ya'll the best, but it's going to be a very ugly fall for you.
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Catshrink Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 03:52 PM
Response to Original message
17. I hate to say this, but I kind of hope nothing happens
and California falls into bankruptcy. My reasoning is that this will serve as an example of what happens when people refuse to pay for the services they want. The cost of a civilized society is taxes, fair taxes. Californians chose to become uncivilized with the passage of rules and defeat of others that would have provided sound fiscal policies.

California's failure might wake up the neo-Libertarians in the Arizona Leg. in time to save Arizona but I doubt it.

And isn't it ironic that the people who want to rescued by the Feds are the same states' right people who want to keep the Feds out? And that budgeting by democracy created this mess? The contradictions are legion.
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rvablue Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-11-09 04:07 PM
Response to Original message
18. Californians will be able to point fingers at politicians, D or R, only after they have
Edited on Thu Jun-11-09 04:08 PM by rvablue
had the sense to repeal Proposition 13.

Until then, CA will always be in the red.

If you live in CA, please read "Paradise Lost" by Peter Schrag -- a very astute and liberal-leaning former columnist -- he predicted long, long ago that Proposition 13 would doom CA. And now it's happening.
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madville Donating Member (743 posts) Send PM | Profile | Ignore Thu Jun-11-09 04:48 PM
Response to Original message
20. here's an idea
Tax more, spend less. Raise taxes to cover half the deficit, make cuts for the other half. Is it really that difficult, quit cherry picking cuts and just slash the budget across the board for every state agency, department and program to be fair. Raise all taxes and eliminate tax breaks for the wealthy and businesses.
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