California Dreaming: Golden State Says It Needs Seven Billion Dollars!



             I survived four years in San Diego County, during the recall of Governor Grey Davis, over a financial crisis, and lived to escape the most free spending, idiotic, money wasting machine ever devised by wooly headed liberals run amok. What is this abomination that consumes tax dollars and emits waves of inefficiency, poor priorities and a childlike disregard of financial reality?  How do you teach common sense and inculcate American values to a socialist politburo determined to drive California into the ground? What could we call an entity whose spending has been so insane for so long that reforming it would be an exercise in futility?  CALIFORNIA!

                     The Golden State is flat busted broke and in hock up to its eyebrows and no one will loan them the 7 Billion bucks they need to stay afloat no matter what kind of terms they offer!  The Movie Star, Action Hero, He-Man, Stud Muffin, Austrian native Arnold Schwarzenegger, the Governor and Husband of Maria Shriver can’t find the dollars anywhere!  He needs the money to fund the day to day government operations and he can’t get the short term loans he depends on to get by. He’s not alone in that many state and municipal governments have found loans impossible to come by and have had to put projects on the shelf until the credit markets start functioning again. It’s not that California is putting some road construction projects on the shelf until things lighten up its  that they can’t fund their day to day operations!  The state of California can’t find the money to pay the public school system!Consider the following from the Los Angeles Times:,0,5726760.story?track=rss

 SACRAMENTO — California Gov. Arnold Schwarzenegger, alarmed by the ongoing national financial crisis, warned Treasury Secretary Henry M. Paulson on Thursday that the state might need an emergency loan of as much as $7 billion from the federal government within weeks.The warning comes as California is close to running out of cash to fund day-to-day government operations and is unable to access routine short-term loans that it typically relies on to remain solvent.

 Plans by several state and local governments to borrow in recent days have been upended by the credit freeze. New Mexico was forced to put off a $500-million bond sale, Massachusetts had to pull the plug halfway into a $400-million offering, and Maine is considering canceling road projects that were to be funded with bonds.
It’s customary for California to borrow billions of dollars at the start of the fiscal year to fill its coffers until the usual flood of sales tax receipts comes in after Christmas and income tax receipts arrive in the spring.“California is so large that our short cash-flow needs exceed the entire budget of some states,” Schwarzenegger wrote.
 “We need to go as wide as possible to try to find buyers at reasonable rates,” said Robert Fayer, an attorney advising the state on its planned $7-billion bond sale.Whether it could ultimately be the federal government, I have no idea. It is a fairly radical concept.”


             I don’t know what one might consider a radical concept these days, when you consider the US Government has nationalized our mortgages, bought a huge insurance company,  a bunch of banks; so why wouldn’t it buy a state?  The California Legislature is indistinguishable from the United States Congress as Presided over by Speaker of the House Nancy Pelosi and Majority Leader Reid. They have the same general philosophy of government and the same willingness to squander the taxpayer’s money while using the population for ill-advised experiments in social engineering.  Both the Congress and the Golden State Legislature looks down its nose, with paternal concern, at the people who pay the bills and both are determined to raise the masses from their provincialism and ignorance even if it takes every dime you and I will ever make.  Both Congress and the Golden State Legislature sees itself as a sort of secular missionary spreading the news of social justice and utopian society among the superstitious, the hyper religious, and the unsophisticated .  They believe that the people need to be reformed, not the government, and while our poor ignorant votes are necessary ever couple of years ;it’s clear that we’ll never understand what our valiant government is trying to give us.  If you really think about it it’s a match made in heaven! 


            Look at it this way: If the Congress can sneak 25 billion to the automakers on the sly then why can’t the US Government quietly take over California and preserve the greatest living monument to stupidity and irresponsibility ever devised by mortal man?  If tax payers can fund the Laurence Welk Museum why not the hole state? We could make a law that the whole state has to buy insurance from AIG and loan them the money to do it!  We could get them expert consultants on budgeting and fiscal management from the US Congress and Bear Sterns! We already own half the houses out there and Washington Mutual Bank, sort of, so why not do a leveraged takeover of the Peoples Republic of California!  We could demand that Gavin Newsome, the heroic mayor of San Francisco, take his rightful place as Governor of the State and even if he can’t solve the financial crisis; at lease he’ll borrow more money to provide free healthcare and education to the already bankrupt state.  Gavin like Nancy Pelosi has his priorities right! 

              Yes we’re about to buy one of our own United States and place it proudly along with our other real estate, automotive, rail road and mortgage and banking assets.  It’s like a game of monopoly where the banker won’t sell any deeds but continues to  raise taxes on people who’ve lost the right to own anything anymore. That does sound like a California Game, dosen’t it?




One response to “California Dreaming: Golden State Says It Needs Seven Billion Dollars!

  1. ALBANY, N.Y. – Gov. David Paterson is proposing that New York join a growing number of states in leasing assets to private contractors to trim costs and provide long-term, steady revenue. Maybe CA should lease the Golden Gate Bridge?

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