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The only reason they passed a "budget" a few weeks ago--months late, was to pay the bills. It was never expected to be a real budget, an honest budget, one that would last more three or four months.
Even before Governor Arnold Schwarzenegger signed California’s state budget on October 8—100 days late—it was clear that the deal that made it possible was a kick-the-can-down-the-road deception. As the Los Angeles Times reported before the budget’s legislative passage: “If approved, [the budget] would fall out of balance almost the moment the ink dried.” The paper concluded that legislators had, for the most part, “settled on accounting sleight-of-hand: deferred payments, borrowed money and optimistic revenue assumptions.”
Should Prop. 23 fail that will guarantee tens of thousands of jobs leaving the State. Should Prop. 24 pass, the tax credits for business will be killed, along with tens of thousands of new jobs. When the Obama tax increases happen on January 1, business will close, stop expanding and those that can, will start investing in other nations--and that will cost California jobs as well.
Be prepared for the Great Depression to get worse--we could have unemployment of 14-15% by the end of 2011, easily.
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Even before Governor Arnold Schwarzenegger signed California’s state budget on October 8—100 days late—it was clear that the deal that made it possible was a kick-the-can-down-the-road deception. As the Los Angeles Times reported before the budget’s legislative passage: “If approved, [the budget] would fall out of balance almost the moment the ink dried.” The paper concluded that legislators had, for the most part, “settled on accounting sleight-of-hand: deferred payments, borrowed money and optimistic revenue assumptions.”
Should Prop. 23 fail that will guarantee tens of thousands of jobs leaving the State. Should Prop. 24 pass, the tax credits for business will be killed, along with tens of thousands of new jobs. When the Obama tax increases happen on January 1, business will close, stop expanding and those that can, will start investing in other nations--and that will cost California jobs as well.
Be prepared for the Great Depression to get worse--we could have unemployment of 14-15% by the end of 2011, easily.
More...