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12-20-2003, 06:54 PM
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GreekChat Member
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Join Date: Jun 2001
Location: Georgia Bulldog Country
Posts: 7,632
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Schwarzenegger declares fiscal crisis
SACRAMENTO, California (AP) -- Saying California's legislative leadership "refuses to act," Gov. Arnold Schwarzenegger declared California in a fiscal crisis, invoking one-time emergency powers to impose $150 million in spending cuts -- largely in social service programs -- without lawmakers' approval.
for full article see...
http://www.cnn.com/2003/ALLPOLITICS/....ap/index.html
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12-20-2003, 07:08 PM
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GreekChat Member
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Join Date: May 2000
Location: Listening to a Mariachi band on the N train
Posts: 5,707
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Don't Mess With the Governator
Ahhnuld will make mincemeat of those girlie democrats!
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12-20-2003, 07:10 PM
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GreekChat Member
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Join Date: Jun 2001
Location: Georgia Bulldog Country
Posts: 7,632
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Because he declared a fiscal crisis? lol
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12-20-2003, 07:13 PM
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Banned
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Join Date: May 2001
Location: Taking lessons at Cobra Kai Karate!
Posts: 14,928
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He declared a fiscal crisis so he can make the necessary budget cuts. Seriously we can't even begin to understand how California got into such a mess and why they didn't cut spending long ago. It's ridiculous. Nobody wants to touch their bonds unless they're highly insured - I think Moodys knocked them to Baaa for underlying. You don't know what that means, but it's bad.
-Rudey
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12-20-2003, 07:13 PM
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GreekChat Member
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Join Date: May 2000
Location: Listening to a Mariachi band on the N train
Posts: 5,707
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Quote:
Originally posted by The1calledTKE
Because he declared a fiscal crisis? lol
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Ya, the Ahhnuld will not wait for problem to get out of hand. He tells girlie legislators "this is how it is done in Caleeforneeia." Now get out of Governators way and let real man run Caleeforneeia.
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12-20-2003, 07:15 PM
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GreekChat Member
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Join Date: Jun 2001
Location: Georgia Bulldog Country
Posts: 7,632
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Lol let see what programs he cuts then we will see how popular he is.
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12-20-2003, 07:20 PM
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GreekChat Member
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Join Date: May 2000
Location: Listening to a Mariachi band on the N train
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Just like Machiavelli recommends, Arnold will make the all the tough decisions early, take a hit in popularity, and then things will continue to get better and his popularity will continually rise.
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12-20-2003, 07:28 PM
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GreekChat Member
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Join Date: Jun 2001
Location: Georgia Bulldog Country
Posts: 7,632
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Assuming it gets better; just depends on how well California's economy picks up and if they keep losing jobs to other states or countries.
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12-20-2003, 07:49 PM
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GreekChat Member
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Join Date: May 2000
Location: Listening to a Mariachi band on the N train
Posts: 5,707
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Quote:
Originally posted by The1calledTKE
Assuming it gets better; just depends on how well California's economy picks up and if they keep losing jobs to other states or countries.
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It will get better. The California economy can not exist with dynamics that are completely independent from that of the entire US. California will also continue to lose jobs to other states and countries, but job creation may exceed job losses. California needs to take advantage of their next period of economic growth to reduce taxes and government spending.
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12-21-2003, 09:20 PM
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GreekChat Member
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Join Date: Nov 2003
Posts: 66
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California's economy is already doing a lot better. In fact, the State expects to realize over $2B in verbudget revenue because the economy is improving so much. However, this isn't enough to make up for the structural problems in the budget, so it won't solve the fiscal crisis.
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