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Fiscal emergency? what will help them...

SAN FRANCISCO (Reuters) – California Governor Arnold Schwarzenegger declared a state of emergency over the state's finances on Wednesday, raising pressure on lawmakers to negotiate a state budget that is more than a month overdue and will need to close a $19 billion shortfall.

The deficit is 22 percent of the $85 billion general fund budget the governor signed last July for the fiscal year that ended in June, highlighting how the steep drop in California's revenue due to recession, the housing slump, financial market turmoil and high unemployment have slashed its all-important personal income tax collection.

http://news.yahoo.com/s/nm/20100728/pl_nm/us_economy_california-

 
sweet-a-kins

Asked by sweet-a-kins at 1:29 PM on Jul. 29, 2010 in Politics & Current Events

Level 34 (67,502 Credits)
This question is closed.
Answers (8)
  • Cannabis Tax
    Reduce the pay of government officials!
    Create jobs !! - no one is spending any money, too many are unemployed!!

    Politicians are all afraid to raise taxes because of their positions come November.... But something needs to bring this state back to it's prime. The lottery didn't help (they stole that money, schools suffer, many roads are crap, bridge tolls went up twice under the governator. He's doing a lousy job.... Someone's reaping the rewards.
    parrishsky

    Answer by parrishsky at 2:44 PM on Jul. 29, 2010

  • Getting this asshat out of Sacramento will help!
    Youngwifey2

    Answer by Youngwifey2 at 2:41 PM on Jul. 29, 2010

  • Cannabis Tax
    Reduce the pay of government officials!
    Create jobs !! - no one is spending any money, too many are unemployed!!

    I agree with this part.
    hot-mama86

    Answer by hot-mama86 at 2:53 PM on Jul. 29, 2010

  • Where does he get off declaring a state of emergency that he helped create?
    lovinangels

    Answer by lovinangels at 4:17 PM on Jul. 29, 2010

  • I'm pretty sure people of Cali are being taxed plenty. Now they need to end the expensive green programs, drill off the coast and give some kind of tax deductions to business to entice them to stay. I'm sure there are plenty of state programs that can be cut.
    itsmesteph11

    Answer by itsmesteph11 at 7:01 PM on Jul. 29, 2010

  • LOL

    sweet-a-kins

    Comment by sweet-a-kins (original poster) at 2:43 PM on Jul. 29, 2010

  • I don't really care what goes on in China or California. A friggin 4 yr old could have told the Californians their social/entitlement programs would run the till dry in no time.
    jewjewbee

    Answer by jewjewbee at 9:40 PM on Jul. 29, 2010

  • CA has too many social programs. Simple balance sheet will explain what will help - meaning what social programs produce the most red and then cut those!

    CA was in rough shape even before Arnold - so where is the "give him time" excuse most of you like to give for Obama? funny how it only goes one way!
    thundernlight

    Answer by thundernlight at 5:09 PM on Jul. 29, 2010

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