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Thread: California Unemployment Insurance $18B in the hole!

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    God/dess Deogol's Avatar
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    Default California Unemployment Insurance $18B in the hole!

    Last eighth of the podcast:

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    Banned Melonie's Avatar
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    Default Re: California Unemployment Insurance $18B in the hole!

    there was a lot of interesting commentary ... coming from Californians for a change ... in that radio talk show snippet. But an earlier comment in the snipped basically tells the whole story. California doesn't have enough money to keep it's 'promises' ... and now has no way of getting any more money ( reference to Obama refusing federal loan request plus California voters refusing higher taxes ) ... thus 'promises' will be broken.

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    Default Re: California Unemployment Insurance $18B in the hole!

    http://www.bizjournals.com/pacific/s...1/daily23.html

    California will run out of cash in 14 days

    The state wallet is empty. The bank closed. Credit has dried up, Gov. Arnold Schwarzenegger told lawmakers in a special Tuesday morning address at the Capitol.

    “California’s day of reckoning is here,” he said. With no action, the state will run out of cash in 14 days. Three months after the state budget was approved, California faces a $24 billion deficit.
    Schwarzenegger has already proposed massive cuts to education, health care and prisons. Now he’s looking for structural reform to make government more efficient and stretch taxpayer dollars.

    He’s asked the State Board of Education, for example, to make textbooks available in digital formats — a move that could save millions.

    In 2004, the governor talked about blowing up boxes and consolidating agencies, but the initiatives never gained traction.

    They’re back.

    Schwarzenegger is proposing once again to eliminate and consolidate more than a dozen state departments, boards and commissions. This includes the Waste Management Board, the Court Reporters Board, the Department of Boating and Waterways and the Inspection and Maintenance Review Committee.

    Earlier this year, the state began consolidating information technology departments.

    Now Schwarzenegger wants to consolidate departments that oversee financial institutions and merge tax collection operations. In July, state leaders will receive recommendations on how to modernize the tax code.


    “This will be a tremendous opportunity to make our revenues more reliable and less volatile and help the state avoid the boom and bust budgets that have brought us here today,” Schwarzenegger told lawmakers.

    It’s not going to happen in 14 days, he said. But it could happen before the Legislature adjourns for summer recess on July 17."

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    Banned Melonie's Avatar
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    Default Re: California Unemployment Insurance $18B in the hole!

    ^^^ those proposals are all well and good but examining the 'facts' revealed at Deo's link point out two problems with any piecemeal reduction approach.

    80 % or so of California's total state spending involves just two areas. One is social welfare program spending, and the other is education spending. Thus consolidating 'esoteric' state agencies will save a bit of money at the expense of having to fire highly vocal unionized state employees. But it's really 'pi$$ing in the wind' as far as making an actual dent in the state's budget deficit. In order to do that, social welfare programs, mediCal, subsidized rent/utility programs, welfare checks etc. must be significantly reduced. Similarly teachers paychecks, subsidies to state universities (and students), state funded research facilities etc. must also be significantly reduced.

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    Banned Eric Stoner's Avatar
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    Default Re: California Unemployment Insurance $18B in the hole!

    Quote Originally Posted by Melonie View Post
    ^^^ those proposals are all well and good but examining the 'facts' revealed at Deo's link point out two problems with any piecemeal reduction approach.

    80 % or so of California's total state spending involves just two areas. One is social welfare program spending, and the other is education spending. Thus consolidating 'esoteric' state agencies will save a bit of money at the expense of having to fire highly vocal unionized state employees. But it's really 'pi$$ing in the wind' as far as making an actual dent in the state's budget deficit. In order to do that, social welfare programs, mediCal, subsidized rent/utility programs, welfare checks etc. must be significantly reduced. Similarly teachers paychecks, subsidies to state universities (and students), state funded research facilities etc. must also be significantly reduced.
    As laudable as I think it is, California can also cancel it's stem cell research program.

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    God/dess Deogol's Avatar
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    Default Re: California Unemployment Insurance $18B in the hole!

    Quote Originally Posted by Eric Stoner View Post
    As laudable as I think it is, California can also cancel it's stem cell research program.
    California needs to make a choice. Cut either welfare and benefits for illegals or start going down the road to productive "investments" of their "revenues."

    I am inclined to think stem cell research will be a good investment, but the lazy and stoned will demand the money for themselves.

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    Default Re: California Unemployment Insurance $18B in the hole!

    Quote Originally Posted by Deogol View Post
    California needs to make a choice. Cut either welfare and benefits for illegals or start going down the road to productive "investments" of their "revenues."

    I am inclined to think stem cell research will be a good investment, but the lazy and stoned will demand the money for themselves.
    Well then they will have to rob Peter to pay Paul. As I said, it is laudable and may very well be a "good investment" but the billions of dollars involved have to come from somewhere.

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    Default Re: California Unemployment Insurance $18B in the hole!

    Well then they will have to rob Peter to pay Paul
    California has already robbed Peter of everything he had ! And there still isn't any money available to pay Paul.

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