Posted by
rycK on Monday, February 16, 2009 10:27:23 AM
California Sinks into the
Financial Abyss: The Leftists will NOT Stop Spending.
Abstract: California is finished as a
society.
California is a critical test case for the
world to watch
and test the theorem: if a place that
large can crash fast enough in a suicidal financial maelstrom then observers
might learn something useful from the process. It is clear that the cretinic
subculture that produced the idiot socialists and Marxian droolers and elected
them and endowed them with political power so they could strut and squeak and
hop and clap in Sacramento has succeeded in producing a nest
of monsters. The usual words required to describe the leftists in California [like pervert, loser, druggie and
imbecile] no longer suffice to offer an adequate description of these beings.
We probably need to barrow some new words from the rodent or insect worlds to
study and discuss their antics. Simply stated, they will not accept any financial responsibility
for their wild social spending. They intend to tax and spend until oblivion comes
and then beg money from Washington. I saw behavior like this in the
60s when many ‘students’ could lay around for years, smoke dope and copulate
with any creature in sight because they had a ‘sugar daddy’ who would pay the
bills. They wanted to change the system then. They have succeeded.
Here is their problem:
They have
a 104 bln
dollar budget and a looming 42 bln dollar deficit. The state laws state that
they need a 2/3 majority to pass spending and taxation laws and the Republicans
are holding out. So, in the latest plot, they have come up with this farce:
“The
budget put up to vote over the weekend session would have outlined spending for
the next 17 months. It called for $14 billion in tax increases, $15 billion in
spending cuts and $11 billion in borrowing.”-- California Lawmakers Fail to Pass Budget
Feb. 16, 2009, 3:25 A.M. ET
Now,
given that the state is overrun with illegal aliens, besotted with dopers and
perverts and has a lousy school system [that costs
40 bln a year] that is almost as bad as Washington, DC or Detroit and, to cap
this off, has to lowest credit rating of the 50 states, they have nothing but
chaos planned for the very next budget of 2011.
We might ask: How can you barrow 11 bln to get through the next 18 months
when you must barrow more after that? When does this stop? Who is going to buy
your phony bonds? The Chinese?
Next
round, are we going to see California cut spending another $15 and raise taxes another $14 billion and barrow yet another 11 bln? It only
takes 7 rounds of 15 bln dollar cuts to cut the budget to zero, a good idea in
the minds of many. They spend 18 bln on salaries for their so-called state
employees and 40 bln on schools so what do they cut? If they fired half their
union stooges they could only save 9 bln and if the closed down half the
schools they would only save anther 20 bln.
If they freeze spending at 104 bln and
cut another 15 bln next round, but just once, then they would have to borrow
another 11 bln. These numbers really get exciting when you look down the Golden
Brick Road for a few years.
|
Year
|
Budget
|
Cuts
|
Borrowing
|
Debt
|
|
2009
|
104
|
15
|
11
|
11
|
|
2010
|
104
|
15
|
11
|
22
|
|
2011
|
104
|
0
|
26
|
48
|
|
2012
|
104
|
0
|
26
|
74
|
|
2013
|
104
|
0
|
26
|
100
|
|
2014
|
104
|
0
|
26
|
126
|
|
2015
|
104
|
0
|
26
|
152
|
|
2016
|
104
|
0
|
26
|
178
|
|
2017
|
104
|
0
|
26
|
204
|
|
2018
|
104
|
0
|
26
|
230
|
|
2019
|
104
|
0
|
26
|
256
|
But allowing for a mere 5% increase
in the budget per year with no more cuts, this happens:
|
Year
|
Budget
|
Cuts
|
Borrowing
|
Debt
|
|
2009
|
104
|
15.0
|
11.0
|
11.0
|
|
2010
|
109
|
15.0
|
11.6
|
22.6
|
|
2011
|
115
|
0.0
|
28.6
|
51.2
|
|
2012
|
120
|
0.0
|
29.9
|
81.1
|
|
2013
|
126
|
0.0
|
31.2
|
112.3
|
|
2014
|
133
|
0.0
|
32.5
|
144.8
|
|
2015
|
139
|
0.0
|
33.8
|
178.6
|
|
2016
|
146
|
0.0
|
35.1
|
213.7
|
|
2017
|
154
|
0.0
|
36.4
|
250.1
|
|
2018
|
161
|
0.0
|
39.0
|
289.1
|
|
2019
|
169
|
0.0
|
40.3
|
329.4
|
Hey, what
is 250 to 300 bln among friends for a decade? That works out to only about
329/50 or about $7,000 dollars for every single taxpayer who lives outside
California.
That is only $12.65 per week
for 520 weeks and just below the $13 we all gonna get from the O’Bozo stimulus,
if it lasts that long. We can afford
that much. The other alternative, not esthetically
endorsed by the Republicans, is to raise increase taxes to the skies. We can
wonder how the taxes might go. Is it possible to levy a 100% tax in the California system? I think the liberals could explain how that
would be a fine example of social justice. Would Sacramento dive on this opportunity? Or, how
about a tax rate above 100% when you could save taxes by not living or working
there? Isn’t everything free if the taxes are 100% or higher?
The only
hope for the budget wizards in Sacramento is to levy a wealth tax and pull
out say 5% of all citizen’s homes and assets per year, which would buy them a
decade or two. The drug addicts, losers, pan handlers and illegal aliens would
not have to pay as they have essentially nothing now except the vote. Maybe Sacramento can instantly make all illegal
aliens citizens or put up a referendum to this effect and let the illegal
aliens vote on that as well. How about
having a plebiscite where only aliens can vote to become citizens if they wish.
That would be fair. The other solution is a Marxist revolution where private
property and all the bank deposits become the property of the state. That worked very well in Russia, Cambodia, Cuba and China. The people were taught how to be
happy and adore their leaders. All it takes is a little education.
To suggest that California is rigidly locked into some financial and sociopathic
misadventure that will end with a terminal episode vastly underestimates the
situation.
The
remaining question is: will anybody learn from this wreckage? I doubt it. Just
keeping taking more drugs and raising taxes and Californians can spend their
way to prosperity and enjoy life in the sun. Europe has already discovered some of
the bliss of the California Experiment in
places like Paris and Berlin and London and can welcome suggestions as
how to rescue some more wealth and spread it around among the masses. Burning
500 cars a night in Paris actually created jobs, a stimulus
of sorts.
rycK
Comments
to: ryckki@gmail.com