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This is great--California has children running the legislature and a Governor who just wants to be liked. Our deficits over the past three years, including this year have reached a roll over of $80 billion, plus over $140 billion in debt, pension plans that are over $200 billion upside down. At the same time revenues continue to have a dramatic drop.
In a little while cities and counties will file for bankruptcy, joining Vallejo. The CalPers system will implode and AB 32 continues to kill jobs in California while the Democrats demand higher taxes and fees.
Now we have Obamacare. One portion of it mandates that the States expand their Medicare coverage--but NOT cover the full costs.
"How big a stress that would put on state coffers is being hotly debated in Congress. State officials estimated that one early proposal could foist as much as $8 billion a year in new costs on California, although they now call that a worst-case scenario.
A bill drafted by the Senate Finance Committee would have the federal government pick up about 85 percent of any additional costs of expanding Medicaid, while a House measure would pay 90 percent, leaving states to pick up the remainder."
At a minimum Barack Obama is planning to add $5 billion to our deficit every year, while he is creating a $13 trillion deficit by the end of the next nine years for the Feds.
We are in trouble and Obama, as expected, is making it worse.
More...
In a little while cities and counties will file for bankruptcy, joining Vallejo. The CalPers system will implode and AB 32 continues to kill jobs in California while the Democrats demand higher taxes and fees.
Now we have Obamacare. One portion of it mandates that the States expand their Medicare coverage--but NOT cover the full costs.
"How big a stress that would put on state coffers is being hotly debated in Congress. State officials estimated that one early proposal could foist as much as $8 billion a year in new costs on California, although they now call that a worst-case scenario.
A bill drafted by the Senate Finance Committee would have the federal government pick up about 85 percent of any additional costs of expanding Medicaid, while a House measure would pay 90 percent, leaving states to pick up the remainder."
At a minimum Barack Obama is planning to add $5 billion to our deficit every year, while he is creating a $13 trillion deficit by the end of the next nine years for the Feds.
We are in trouble and Obama, as expected, is making it worse.
More...