Is California Heading for Bankruptcy?

[Teresa]

My vote would be "no".. and the same goes for Kansas or any other state that asks for a bailout. It wouldn't be fair for the rest of the country to pay for one state's mistakes. California  got itself into this mess, it can go and get itself out.
No bailouts.. Learn to budget.. if you can't ...well... As the old saying goes, you reap what you sow.

Now... before you all think that I am a knee jerking  hard ass.... let me say this...:
I have stepped back and without cynicism and anger and disgust..have given this some thought.
Of course my opinion hasn't changed.. but I will interject another way of saying it. ..

The problem with bailouts is the fact we are not changing behavior.

California has become a socialist state. They are buckling under the shear weight of the population and regulations...
( and the fact that they are supporting every illegal immigrant that crosses into their state) adds to that population.

  I have a friend that I talked to about this ..and he does a lot of business in California and he told me he loves sitting in policy meetings and raising his hand and asking how it applies to California. He said every time he does that  he gets a huge groan ...
IF we are going to bail them out, there has to come LOTS of changes. The problem is...  how the changes are being made.

They would have to virtually start over.

State Government - dissolved. New elections.
Health Care - Reformed ... lets take some of Obama's ideas and try them in California first
Border - build a fence.
Illegals - round'em up ... ship'em out. NO exceptions!
*but everyone knows that ain't going to happen*

If the federal government is bailing them out then they need to pay back the feds with the principle, but the remaining 49 states get the interest.

If they want the feds help ... then they need to start over.

But none of what I write is going to happen.
Uncle Obama is going to hand the money over and the State of California will continue down the same path it is heading down.
And the stupid electorate will continue to suffer from "not my elected official" syndrome .

We are back to the answer of No.  Let them fall. 

[Catwoman]

Teresa, your post on the other thread (Joe Legal vs. Joe Illegal) really points up what you just said.  I agree...Maybe, if CA is allowed to fall on her face, it will force the hard issues to finally be dealt with.

[Warph]

Gosh... golly... gee... since no one has an answer to this problem... and if you're looking for a good laugh.... lets look at Russian Professor Igor Panarin's answer to the whole situation.  How's this for "Change," Obama:

What IF: (Prof. predicts)

California forms the nucleus of what he calls "The Californian Republic," and will be part of China or under Chinese influence.

Texas will be the heart of "The Texas Republic," a cluster of states that will go to Mexico or fall under Mexican influence.

Washington, D.C., and New York will be part of an "Atlantic America" that may join the European Union.

Canada will grab a group of Northern states Prof. Panarin calls "The Central North American Republic."

Hawaii, he suggests, will be a protectorate of Japan or China.

Alaska will be subsumed into Russia.

The rest of the story at:
http://online.wsj.com/article/SB123051100709638419.html

[dnalexander]

Teresa, your post on the other thread (Joe Legal vs. Joe Illegal) really points up what you just said.  I agree...Maybe, if CA is allowed to fall on her face, it will force the hard issues to finally be dealt with.

Illegal immigration is a big problem not just for California but for the whole nation. Correcting it will not solve California's budget crisis. After I get done arguing it with my fellow Californians maybe I will have time to do it here. What you all can learn from watching it is to learn from our mistakes and not let it happen in your state. Since Kansas gets more in federal aid than they pay it is just a matter of time before you start asking for a bigger bailout. Don't let it happen. I do find it fascinating that there is almost no discussion of Kansas politics or local politics on the forum. Let us be a lesson.

David

[Teresa]

California's unsustainable spending without regard to actual revenues is well known. Foolish giveaways and payoffs to unions is the way of life for the Golden State.

Well, now the money is gone. But the leadership that put them in that predicament remains. Until all of them are gone, any idea of continued support is suicide for the rest of us.

It really is that simple. These people that are running this are nothing short of financial crackheads. Anything for another hit of money, but a steadfast refusal to change to sustainable ways. Until they change their ways, the outcome will never change. We can give California every cent we have left as a nation, but they will still spend it all.

Socialism is not a sustainable financial model. The California leadership has denied reality long enough. The credit cards must be pulled. The goofballs in the California Supreme Court need to be thrown out for continuing to make up new laws from the bench instead of interpreting laws from Sacramento.

In short, the entire state is dysfunctional. The thinking of the leadership is infested with stupidity and failure. Nobody can make a decision, they just read the latest popularity polls and figure out who should get a warm fuzzy today.

California 2009 equals the Titanic 30 minutes after they hit the iceberg. There is no way the ship is not going down. The only question is how badly do you want to be on it as it goes down?

[dnalexander]

Teresa you should work on your own states socialism.

David

[Teresa]

My states socialism??
I don't think that there is any correlation between California and Kansas...

Give me some examples...

[Teresa]

Kansas has it's share of problems... but......Kansas isn't the one on the chopping block right now....
I'm thinking California needs to be held up as a shining example of too much government run amuk! After everyone has seen what happens when liberals run government for too long, we then start the impeachment Imprisonment of all public "servants". This show will be attended by all the politicians in Washington, to serve warning of what will happen to them if they continue to use California as an example of how to run a country! 
California's policies are basically the test version of what the Feds are doing. Just as the Feds, CA's leftist government built up a strong voting base of welfare and program dependent voters and they continue to spend. It's no wonder the democrats always want to reach out to to the illegals with amnesty plans - more dependent voters. Now things have gotten tight and there's no one left to pay for all of those programs. BHO's trying to catch up to our state's stupidity on fast forward. Hopefully he'll put the brakes on.
I guess we'll see................. :-\

[dnalexander]

My states socialism??
I don't think that there is any correlation between California and Kansas...

Give me some examples...

Start with the fact that you receive $1.12 in federal aid for every federal tax dollar that you pay(It is already posted on this site, back during a thread on how red states receive more federal dollars than the pay. Texas is one of the exceptions). Then maybe you could talk about Kansas or Elk County politics. Stop bashing California a large portion of that aid you receive is from the federal tax dollars Californians pay. You need to get your own house in order. I have nothing more to say to you on this subject.

David

http://www.cascity.com/howard/forum/index.php/topic,6228.0.html

http://democraticactionteam.org/redstatesocialism/index.html

[Teresa]

Well.. like I said.. Kansas isn't the one on the chopping block. It very well might be someday. I won't be for a bail out then either.  If California goes belly up and Kansas gets some of the brunt ..then we'll deal with it. If Ks can't handle their finances any better than California.. then we need to hit the ground also until we can.
All I'm saying is, I'm sick and tired of the bail-outs.
California.. Kansas.. the Banks ..whoever.. I say enough is enough..