Thread: California could run out of cash come July

California could run out of cash come July

Fiscal chief warns legislators to work out budget – or else
By Judy Lin
2:00 a.m. May 23, 2009

SACRAMENTO – California will run out of cash in two months unless lawmakers act swiftly to close a widening deficit and pass a budget, state finance officials warned yesterday.

Failure to reach an accord will trigger a financial storm much greater than the one the state endured this winter when it stopped infrastructure projects and delayed payments to vendors and refunds for taxpayers, state Controller John Chiang told lawmakers at a budget hearing yesterday.

“No matter how bad you thought February was, without immediate and real fixes to the state's finances, sometime next (fiscal) year we will have a cash crisis that is four times as broad as what it would have been this fiscal year,â€

RELTED

California faces its day of fiscal reckoning

By JULIET WILLIAMS, The Associated Press
3:25 p.m. May 22, 2009

SACRAMENTO, Calif. — The day of reckoning that California has been warned about for years has arrived. The longest recession in generations and the defeat this week of a package of budget-balancing ballot measures are expected to lead to state spending cuts so deep and so painful that they could rewrite the social contract between California and its citizens. They could also force a fundamental rethinking of the proper role of government in the Golden State . . .

http://www.alipac.us/ftopict-156905.html
----------------------------------------------

CA: Gov plans to completely eliminate welfare . . .
http://www.alipac.us/ftopict-156955.html

=====================================

California braces for brutal budget cuts

"The people told Sacramento, 'Go and do your work yourself. Don't come to us with your problems,' " Schwarzenegger told reporters in Washington before flying home. "So now we have to recognize that and move forward and make all of the changes through cuts."

The hacking of government began quickly, by the hand of a little-known state panel that sets elected state officials' pay. Citing a need for shared sacrifice, the group decided to reduce those salaries by 18% starting next year . . .

http://www.alipac.us/ftopict-156905.html

Dirt Broke and wanting the Country to bail out the VERY Corrupt State from it's own actions

RELATED

Desperate California Could Split Into 4 States

(That would give California 8 senators and every other state would still only have 2)

http://www.alipac.us/ftopict-157085.html

CALIF. RUNNING OUT OF MONEY BY JULY, ALL I CAN SAY IS


HAPPY 4TH.

"The people told Sacramento, 'Go and do your work yourself. Don't come to us with your problems,' " Schwarzenegger told reporters in Washington before flying home.

Uh ...ya...that's right Arnold. Sacramento has been telling it's citizens "Don't come to us with your problems" for many years now. How does it feel? We told you our wages were being depleted by illegals....you said "thats your problem". We told you illegals were closing our hospitals...you said "thats your problem". We told you that our school system was being dragged down by illegals....you said " thats your problem". We told you we were losing our jobs and homes...and you said "thats your problem". Well Arnold, you dont have money? THATS YOUR PROBLEM. The citizens of California are already living with 9 toes in the street so it cant get much worse. I am sure you think that is our problem, not yours.

ITS JUST TOO BAD OUR FEDERAL SYSTEMS ISN'T THE SAME.

LOOK AT ALL THE MONEY ODUMBA HAS GIVEN OUR COUNTRIES IN HIS FIRST 100 DAYS.

Originally Posted by Paidmytaxes

ITS JUST TOO BAD OUR FEDERAL SYSTEMS ISN'T THE SAME.

LOOK AT ALL THE MONEY ODUMBA HAS GIVEN OUR COUNTRIES IN HIS FIRST 100 DAYS.

Im sure it's coming down the pike at the federal level also.....

Originally Posted by SicNTiredInSoCal

Originally Posted by Paidmytaxes

ITS JUST TOO BAD OUR FEDERAL SYSTEMS ISN'T THE SAME.

LOOK AT ALL THE MONEY ODUMBA HAS GIVEN OUR COUNTRIES IN HIS FIRST 100 DAYS.

Im sure it's coming down the pike at the federal level also.....

The federal government is already broke.

They just don't admit it.

(Broke is when you have more debt than income.)