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I have been predicting, since April, that the next budget will be signed by the next governor, NOT Arnold. We are 93 days away from the date we have a new Guv. Today is day 90 without a budget--halfway there.
"Schwarzenegger visited the Commonwealth Club in Santa Clara, where he told the audience it is still be possible for the state to have a deal "in the next week."
The sticking points are Schwarzenegger's demands for tax and budget and pension reforms.
Fiscally, things get a lot worse come Friday, the first day of October. The new month -- and new fiscal quarter -- means commercial lenders can cut off the state's credit card.
Among other things, it also means the Department of Parks and Recreation may not be able to buy restroom and other supplies."
Government schools are no longer receiving their checks, vendors have not been paid since July 1 and the Treasurer is trying to borrow $5 billion from Wall Street to pay the bills.
The good news is that the State of California is fiscally falling apart. The bad news is that the economy is so bad, due to high taxes, bad regulations and unions that real folks don't care--their world is falling apart.
We are in for a massive change in government, whether Sacramento is ready or not. Massive deficits are causing government to cut back special interest programs--and that is a good thing.
More...
"Schwarzenegger visited the Commonwealth Club in Santa Clara, where he told the audience it is still be possible for the state to have a deal "in the next week."
The sticking points are Schwarzenegger's demands for tax and budget and pension reforms.
Fiscally, things get a lot worse come Friday, the first day of October. The new month -- and new fiscal quarter -- means commercial lenders can cut off the state's credit card.
Among other things, it also means the Department of Parks and Recreation may not be able to buy restroom and other supplies."
Government schools are no longer receiving their checks, vendors have not been paid since July 1 and the Treasurer is trying to borrow $5 billion from Wall Street to pay the bills.
The good news is that the State of California is fiscally falling apart. The bad news is that the economy is so bad, due to high taxes, bad regulations and unions that real folks don't care--their world is falling apart.
We are in for a massive change in government, whether Sacramento is ready or not. Massive deficits are causing government to cut back special interest programs--and that is a good thing.
More...