"Hi! I'm Governor Brown and my state is bankrupt, not knowing how we are going to survive economically, and may declare bankruptcy. I and the federal government have come up with a great idea to solve all of our problems: Borrow another $4.6 billion for NEW spending! Would you like to invest $100M of your money to buy my bonds?"
Before you laugh, remember that it is us taxpayers who are going to eventually foot the bill for this fiscal idiocy.
This is exactly the kind of investment in the future that all of the United States should be pursuing.
Yes, it will be expensive and California must sell bonds to pay for it. But it is like planting seed corn for the future---if you try to save money now by not buying seed, you will have no growth in the future. $5 Billion may sound like a lot of money, but it is what the US spends in Iraq and Afghanistan every two weeks! And what do we have to show for that?
The real reason Republicans scream about expenditures like this has nothing to do with the deficit. They don't care beans about the deficit! If they did, they would let the Bush tax cuts expire, since that accounts for more than half of it! The real reason Republicans howl about things like this is because 1) they get most of their campaign money from Big Oil which doesn't want any government expenditures on competing clean energy, and 2) because they want the economy to stagnate and shrivel because they think they can use it for their own political advantage by blaming Democrats for it.
by jsa56 July 7, 2012 1:41 AM EDT "I am sure you would support a new $100 billion freeway to accommodate Escalades, Expeditions and other behemoths. That would be patriotic. California cannot be building endless roads to cope with its burgeoning population"
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jsa - California's population, of people and industry, is not "burgeoning". In fact, it is "unburgeoning" at a record rate, and building a line from Madera to Bakersfield ain't gonna reduce congestion...ever.
When will people wake up and see that Democrats will not stop spending until we are completely bankrupt. And that will be soon! Please, people of California, do not vote for a Democrat candidate. Not if you value this state.
California is broke; no solution in sight and now the state is borrowing/spending $20million/mile on a train. Now I believe high-speed rail is a good thing as is infrastructure upgrade, but living within ones means is also important, actually more important. I don't live in California, thank God, but if I did I would consider suing the state for fiscal irresponsibility.
Why? You Liberals have bankrupt the state. Do you need high speed rail to get the Liberals to the Welfare office? I'm glad that the cesspool of Liberlaism is broke. I have no pity for anyone that lives there. Why do you think so many employers are leaving California? They're tired of the Democrats taxing them to death. Now you have moonbeam running the state.
Revenue means nothing unless you provide the expenses. Oh, expenses exceed revenue - oh those pesky facts. Who would buy bonds for a union boondoggle from a state that is on the verge of bankruptcy. Prediction: California will have that major trillion dollar earthquake before this is completed. Mankind will be extinct from the planet before this is paid for. The big dig in Boston for example: 2 billion dollar cost estimate - 18 billion current cost and rising because even though it is considered complete there is currently and in the future millions more to be spent to fix it because of design flaws and shoddy construction. California will try to tax cars out of existence to force people to use a service that most do not want and are loath to pay for.
by legalbutnotjust July 7, 2012 4:18 AM EDT So, is it really tax and spend, or print and lend? The answer can come at the flip of a coin for all I care. You got a better idea on how to put people back to work? --------------------------------------------------------------
The result of both is the devaluation of the dollar. See the stock markey soaring lately? Reason? The wall street boys are salivating over Bernahke's anticipated QE3. Waiting for virtually free money that the Fed will just print and overload the money supply. Of course tools like legal could care less. Free govt money is their heroin and they will never kick that habit.
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"Hi! I'm Governor Brown and my state is bankrupt, not knowing how we are going to survive economically, and may declare bankruptcy. I and the federal government have come up with a great idea to solve all of our problems: Borrow another $4.6 billion for NEW spending! Would you like to invest $100M of your money to buy my bonds?"
Before you laugh, remember that it is us taxpayers who are going to eventually foot the bill for this fiscal idiocy.
Yes, it will be expensive and California must sell bonds to pay for it. But it is like planting seed corn for the future---if you try to save money now by not buying seed, you will have no growth in the future. $5 Billion may sound like a lot of money, but it is what the US spends in Iraq and Afghanistan every two weeks! And what do we have to show for that?
The real reason Republicans scream about expenditures like this has nothing to do with the deficit. They don't care beans about the deficit! If they did, they would let the Bush tax cuts expire, since that accounts for more than half of it! The real reason Republicans howl about things like this is because 1) they get most of their campaign money from Big Oil which doesn't want any government expenditures on competing clean energy, and 2) because they want the economy to stagnate and shrivel because they think they can use it for their own political advantage by blaming Democrats for it.
"I am sure you would support a new $100 billion freeway to accommodate Escalades, Expeditions and other behemoths. That would be patriotic. California cannot be building endless roads to cope with its burgeoning population"
______________________________________________________________
jsa - California's population, of people and industry, is not "burgeoning". In fact, it is "unburgeoning" at a record rate, and building a line from Madera to Bakersfield ain't gonna reduce congestion...ever.
Please, people of California, do not vote for a Democrat candidate. Not if you value this state.
Yet another stupid, ridiculous, wasteful decision by our lawmakers.
So, is it really tax and spend, or print and lend? The answer can come at the flip of a coin for all I care. You got a better idea on how to put people back to work?
--------------------------------------------------------------
The result of both is the devaluation of the dollar. See the stock markey soaring lately? Reason? The wall street boys are salivating over Bernahke's anticipated QE3. Waiting for virtually free money that the Fed will just print and overload the money supply. Of course tools like legal could care less. Free govt money is their heroin and they will never kick that habit.