So far, Obama says no to California bailout
Thus far, the Obama administration is resisting the notion of a federal bailout for the bankrupt state. Let’s hope it stays that way. We’ll find out if Obama sticks to his guns by the end of July.
Bailing out a fiscally reckless state such as California would increase the already gargantuan federal budget deficit, add even more debt, place further pressure on the US Dollar, and potentially open the floodgates for the host of other states that have grossly mishandled their check books.
The time is long overdue for California to get its budget under control. Years and years of overspending have lead to disastrous consequences. Better to take the tough medicine now, suffer some short-term pain, and lay the foundation for legitimate recovery in the years to come.
Now, if we could just get the Federal Government to take its own advice. For the last 8 1/2 years, its motto has been “Do what I say, not what I do.”
What are your thoughts on California and its budget crisis?
Read here.
Laura L said:
Speaking as a Californian I must say THANK GOD. And WOW, Obama did something I agree with!!!!
Not only would bailing out California reward our reckless behavior — it would send a clear message of “IDIOTS!” to the responsible states. All the time they were being prudent Californians were off in La La land doing as they please and now the states who made sacrifices have to pay for California’s self indulgence? That would be MADNESS…
There are so many ways CA has been fiscally irresponsible, where does one begin? One thing that comes to mind is the fact that Bush said No Tax Payer dollars to fund new embryonic stem cell lines (he did fund existing lines some). SO CA had to come along with this attitude that “we’re just so evolved compared to the rest of America” and pass billions of dollars of spending on Embryonic Stem Cell research. But we can’t afford to pay our bills. So now we think other states who “just said no” to spending they could not afford should have their money given to CA to pay for these types of pet projects? No I don’t think so.
June 19th, 2009 at 9:01 pm
Tina Private said:
CALIFORNIA FARMERS TOTAL OF 80,000 NEED WATER! See links below
Obama RESTORES Endagered species Act
No water
No farms
No crops
No jobs
Food prices go up in produce
Farmers loose farms and crops
Because of a fish?
Obama denying 80,000 farmers water for their farms. To save an endagered FISH WTF. I saw this on Sean Hannity last night. Obama is DOING NOTHING to reverse the order. I saw this on Sean Hannity last night. Most farmers voted for OBAMA now second guessing themselves.
ABC post an article aboout the concerns in California and not there giving their network to OBAMA the person able to help these farmers..
http://www.youtube.com/watch?v=7mdPnHO8DWY
http://newsbusters.org/blogs/brad-wilmouth/2009/03/31/abc-judge-cuts-water-california-farmers-save-endangered-fish
June 21st, 2009 at 10:17 am
Steve NM said:
Wonderful point. The freedom movement would do well to attend to such things, rather than fussing over irrelevant trivia. I read the following silliness -
“Hurting Charitable Giving: The budget will put a new tax on charitable giving that could cost American charities as much as $16 billion a year. This will harm numerous organizations at a time when many of these groups are now struggling with the economic downturn.”
THAT has nothing to do with freedom and independence. California NEEDS to go into bankruptcy to stop its insanity.
June 24th, 2009 at 6:29 am
Mags said:
The way I heard it is that Arnold refused to back down from salary cuts and furloughs that affect the Service Employees Union. This union was found to have serious connections to Obama’s gestapo buddies in ACORN. If Arnold would back dow, Obama will give him all the money he wants, until then, nothing. Your basic Chicago style extortion politics at work.
I have a feeling that ACORN is going to end up being Obama’s “Watergate” real soon.
June 25th, 2009 at 12:44 pm
June Moore said:
We are asking all to go to your federal bldgs at 9:00 tomorrow. Hold vigils against the passing of a tax on the American people. Call the 8 conservatives that voted for it and the 3 that voted present and ask them how they can justify a vote against the American people. WE sat as they passed tarp, we sat as they passed the stimulus, we will sit no more. SILENT NO MORE.
@junmoore on twitter…..Let’s Roll!!!!
June 26th, 2009 at 7:33 pm
Angie said:
A bailout of California, or any other state for that matter, by the Federal government (i.e., our tax dollars) would be the grossest form of taxation without representation. I live in Pennsylvania; I have no voice in California politics as I can’t vote there. So, why exactly should my tax dollars go to a state in which I have no say on what’s done? The answer is simple - my tax dollars SHOULDN’T go there!
We’re already seeing taxation without representation in the form of pork, corporate bailouts, and more pork. Let’s stay vigilant to make sure it doesn’t get worse!
June 30th, 2009 at 7:17 am
Peter Theophilopoulos said:
And you believe him?
June 30th, 2009 at 3:25 pm
Susan Blanco said:
I guess California isnt too big to fail.
December 12th, 2009 at 2:05 am