California "Headed Off The Fiscal Rails": NY Times

nytimes.com:

The state of California - its deficits ballooning, its lawmakers intransigent and its governor apparently free of allies or influence - appears headed off the fiscal rails.

Since the fall, when lawmakers began trying to attack the gaps in the $143 billion budget that their earlier plan had not addressed, the state has fallen into deeper financial straits, with more bad news coming daily from Sacramento. The state, nearly out of cash, has laid off scores of workers and put hundreds more on unpaid furloughs. It has stopped paying counties and issuing income tax refunds and halted thousands of infrastructure projects.

Read the whole story: nytimes.com

Comments

[JustAHumanOnEarth]

California has always been the leading example for the country. It looks like the "O" is building our economy around the Cali model. Doesn't this worry anyone?

[Shammie2000]

Cally going off a financial cliff, Arnold, I'll be Baaaack.

[DeeOne1]

YAY!!!!!! WOOT!!!!!!! Congratulations media you did it!!

All of your doom and gloom about how bad the economy is and the real estate market has been for the last three years has finally screwed the economy big time!!! It is only logical that if Bob Smith (and millions of others) keeps hearing that no one is buying homes, then he will think to himself I should not buy a home either! Yea media, aren't you happy!!!

http://www.TheCommentDepot.com

[iowa gal]

We saw California's fiscal train wreck coming years ago and decided to get the heck outta there once we retired. It is no place to grow old or raise a family any longer.

Have found a wonderful life in Eastern Iowa and don't miss Arnie and his minions one bit.

[bubbuh]

I must say that Arnie looks like he's going to barf in that picture.

[Star2000dancer]

It's the Spitzer lip!

[toyboat]

GET ARNOLD OUT BEFORE HE RUINS MY DAMN STATE!!!!!­!!!!!!!!!!­!!!!!!!

[bubbuh]

You don't think it might have anything to do with requiring a 2/3 majority to raise taxes while they can be lowered or eliminated by plebiscite? And, of course, government services can be mandated by the same plebiscite without a concomittant menas of paying for them?

[Misha1234]

BarackSachs See Profile I'm a Fan of BarackSachs permalink

i suspect Epis that you know exactly what im talking about ........

Yet you play stupid for some reason.......you're not stupid like the rest of these people here .....

Whats your problem?

Reply Favorite Flag as a
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Oh Burldean. You wonder why we give you are hard time.

[StuManChu]

This is why I did not vote for Arnold. No matter what letter he has after his name, he is a liberal, governing a state run by liberals. They have doubled spending in the last 10 years, and then ran the businesses out of the state that funded them (ie taxes). Businesses are bailing out on California, and the liberals in Sac could care less.

And now the Federal Gov. is using the Cal model on how to run a country. Grab your popcorn.

[american2008]

Were you born STU PID or did it develop over time?

[gladiator777]

No, he's here on the planet while your mind is.....somewhere else where you defy all logic.

[bubbuh]

Yeah, yawn. Don't let the facts get in your way. Make up an alternate reality today.

[Star2000dancer]

What? This man is part of the last of the Hitler regime like the Bushes..

[huffposeur]

the only hope for california is to secede from the union and enter into an alliance with venezuela

[gladiator777]

Well hey arnold can be governor for ever then, just like chavez.

[wordvarc]

The G O P is now the Grand Obstructionist Party.

Arnie's political legacy is "The state worker terminator."

[CharlieBS]

The solution by the Republicans to their "pledge" of no taxes is to layoff 10,000 employees. Makes sense to me to add another 10,000 people who are UNABLE to pay taxes. Are these legislators stupid or what? I hope all 10,000 employees remember how they need to vote next time and election rolls around. I'm saying my prayers for all who live in California. Good luck and may God bless you.

[wordvarc]

20,000 jobs terminated.

[hackerblaster]

Hi, any prostitues (gay ones would be a plus!) that know any of our republican leaders intamately? We could use your help to speed things up.

[DoTheMath]

Thanks, Charlie. I should be receiving my layoff notice any day now, even though my job makes state government services more accountable and more efficient. A great majority of the most recently hired state workers in California were hired for exactly that purpose, to use technology to improve state government, yet we will be laid off. Many of us will probably collect unemployment. None of us will be able to support local (or nonlocal) business as much as we have been. None of us will pay as much taxes as we have been. You're right. The Republicans who forced us into this situation by refusing to face reality and sign a responsible budget are not exactly geniuses. Thanks for your good wishes. It helps to know someone understands.

[mcole]

i bet you those 10,000 people would happily pay more taxes, if they got to keep their jobs in exchange.

we are witnessing the demise of the republican party. its a slow death, but they are dying. no one can vote for them with this kind of "smart logic"

[Fudgefase]

I'm really puzzled by these comments. Y'see, on the ads running in the UK, we're urged to come and work in California - 'cept it's not really work because you get to surf, snowboard, play golf, and cycle all the time (board meetings, play catch up and push pencils all day) and sing around beach campfires all night as you 'burn the midnight oil'.
It looks so fantastic, what with Arnie and spouse, and Rob Lowe urging you to join them - "when can you start?", I find all these comments very distressing.

I can't believe it's not paradise on earth.....

[armadillious2002]

Cut taxes - cut taxes - cut taxes some more - Woops! we don't have enough money. How did that happen?

[gladiator777]

They spend too much.

[957]

Went there to visit my realatives who were living in an apartment, happened to see payday for the workers that were painting/repairing whatever some vacant apartments....the boss was paying them all in cash...wonder how much of that was taxed.

[Yaaawn]

Stop funding illegals in this state and you will save billions. But instead we will take your billions from education. What a deal!, but that's what you wanted.

California politics is no better than Chicago

Congratulations