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State of California out of cash before april!

fast4d

fast4d

New member
Joined
Jun 21, 2007
Location
CA
Moto(s)
2001 aprilia
Wednesday, February 01, 2012

State Controller Warns California Could Run Out of Cash by Early March


On Tuesday, State Controller John Chiang (D) sent a letter to the Legislature's budget leaders to alert them that California could run out of cash by early March, the Sacramento Bee reports.

Chiang said state officials need to find $3.3 billion to pay for priority programs from Feb. 29 to April 13 (Yamamura, Sacramento Bee, 2/1).

Details of the Cash Shortage

As of Dec. 31, 2011, the state had taken in about $2.6 billion less than what lawmakers assumed in the state's budget plan, according to Chiang (Gardner, U-T San Diego, 1/31).

In addition, Chiang said the state is spending $2.6 billion more than what lawmakers had projected.

Brown administration officials said the spending gap stems in part from courts blocking cuts to health and welfare programs. The administration also pointed to miscalculations of savings from the prison inmate realignment initiative as a reason for the budget gap.

Chiang said, "I believe the upcoming shortfall can be effectively managed without resorting to IOUs, tax refund delays and other drastic measures with (legislation) and other steps we must take -- quickly and collaboratively -- in the coming days" (Sacramento Bee, 2/1).


Read more: http://www.californiahealthline.org...out-of-cash-by-early-march.aspx#ixzz1lA1k5dyx
 
Moonbeam has matured and is not playing games. We are cutting to the bone.

Raise incoming assets or suffer more consequences.
 
this wouldnt have happened if the democrats didnt spend so much money having abortions :x
 
Maybe it's time for Cali to just go the way of Vallejo, declare bankruptcy, renegotiate all of our overpriced and underfunded obligations and start fresh.

The blame can't be pinned on any one Governor or legislative session time frame. For years and years our representatives (both Dem and Rep) have voted for spending money on this or that state program/commission/boondoggle without corresponding revenue streams. And when we did run short of cash we simply charged more debt on our State Credit Cards happily offered by Wall Street loan sharks.
 
mototireguy said:
Maybe it's time for Cali to just go the way of Vallejo, declare bankruptcy, renegotiate all of our overpriced and underfunded obligations and start fresh.
The blame can't be pinned on any one Governor or legislative session time frame. For years and years our representatives (both Dem and Rep) have voted for spending money on this or that state program/commission/boondoggle without corresponding revenue streams. And when we did run short of cash we simply charged more debt on our State Credit Cards happily offered by Wall Street loan sharks.
Click to expand...

Absolute long term part of the equation. Not sure it will do a dam for our current mess other than a higher bond rating.
 
I warned you guys back in 2010 when JB was running for Gov... :x

Now, suck it..! :party
 
Mototire- whens the last time the Republicans had a majority ANYTHING in the state?

House and senate have been democraticly controlled solid since the 80s.
 
Oceansides said:
Mototire- whens the last time the Republicans had a majority ANYTHING in the state?

House and senate have been democraticly controlled solid since the 80s.
Click to expand...

True the legislature has been (D) for quite a while now but there were 24 years of (R) Governors, George Deukmejian, Pete Wilson and Arnold.

Plenty of blame to go around to both the (D) and (R) parties. Democratic legislatures voted for these wackjob budgets/borrowing and the Republican governors signed off on them.
 
In related news, CARB announced today that following the EPA's determination that CO2 is a toxic greenhouse gas, that they will be mandating the use of respiration monitors for all California citizens effective immediately. The monitors, which must be installed on every state resident by 04/01/2012 will measure the number of exhalations made by each individual and remotely relay the information to the state Board of equalization, which will issue billing statements based on the volume of CO2 released into the atmosphere by the wearer. The funds will be deposited into a Clean Air Management account, subject to acquisition by the state Legislature.
 
Idontdotrix said:
In related news, CARB announced today that following the EPA's determination that CO2 is a toxic greenhouse gas, that they will be mandating the use of respiration monitors for all California citizens effective immediately. The monitors, which must be installed on every state resident by 04/01/2012 will measure the number of exhalations made by each individual and remotely relay the information to the state Board of equalization, which will issue billing statements based on the volume of CO2 released into the atmosphere by the wearer. The funds will be deposited into a Clean Air Management account, subject to acquisition by the state Legislature.
Click to expand...

:rofl :rofl :party
 
Hold your breath and save!:laughing
 
Oceansides said:
Mototire- whens the last time the Republicans had a majority ANYTHING in the state?

House and senate have been democraticly controlled solid since the 80s.
Click to expand...
You can't write them out responsibility, with 2/3 majority required to pass a budget, they hold influence way beyond their numbers. ;)
 
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