California’s Fiscal Armageddon

Dan Walters says that if Propositions 1C, 1D and 1E fail, we may have a $20 billion problem in California for 2009-2010. The end result of this problem:

Wholesale slaughter of state spending may be their only option. This is a pivotal point in California political history, a fiscal Armageddon.


12 Responses to “California’s Fiscal Armageddon”

  1. 1 NicoleMB May 7, 2009 at 11:38 AM

    I feel like personally I’m beginning to see the effect of the money problems California is facing. My work is getting a $1 million budget cut from the state and we were just informed that beginning in July we will have work furloughs every month. These really are tough times and hopefully will start to look up before things get any worse.

  2. 2 Jay Surface May 9, 2009 at 3:55 PM

    Will it be such a bad thing for to take all the money out of California state legislators hands? They have made a mess of what use to be one of the most rich states not only in the Unites States but in the world. Personally I would not mind seeing the legislators get money ripped out of their hand. It would cause huge initial damage at first, but I think California would bounce back in no time because California citizens would make it rebound.

  3. 3 Andrew May 12, 2009 at 12:55 PM

    Jay, I have a response to your question, if you do remove it from legislators (which i don’t have a problem with) who do you plan to give it to? giving it to the people tends to be problematic because everyone tends to look out for their community where as the people we elect try to look out as for a whole (or at least they are supposed to).

  4. 4 Matthew Dimech Econ-101 May 12, 2009 at 2:37 PM

    I like Jay’s point a lot actually but also have to agree with Andrew’s. I would love to take the money out of our legislatures hands and give it to someone else. I figure, how can we shoot ourselves in the foot even more? But at the same time, i have no idea who we could give that burden too. Especially someone who would be looking out for the state as a whole and not just for their own individual benefit.

  5. 5 Melissa Schmitt May 13, 2009 at 10:33 AM

    i feel like we have enough money problem in California and we need to find a way to have a surplus before we start making billion dollar expenses. I think that it is great that we are finding ways to legislate more money but if it goes bad there will be more debt and at the time of a recession we cant afford it

  6. 6 Casey Kingdon May 14, 2009 at 7:46 PM

    I went to a small school, and we always used to worry about the California budget, and if our school would receive sufficient funds to keep our schools afloat. But what if these propositions did fail, and California’s spending was cut, that would be the end of my hometown, along with many many others like it in California. Then tell me what Arnold would do huh

  7. 7 Michelle V May 16, 2009 at 7:20 PM

    There has been a 20% increase in government employees since governor took over and there has to be a stopping point in their spending. We shouldn’t be giving them anymore money to spend because there is no time table to when we might be paid back, we just get an IOU note. They can’t foresee the future and don’t know anything about what they can make in the future so we don’t know how we can payoff these debts.

  8. 8 Molly Jordan May 16, 2009 at 9:21 PM

    It seems as though you can only cut so much, and what about all of the people who will lose their jobs because of cuts in spending? I think we need to re-evaluate who we are letting decide what happens to the money and what their motives are.

  9. 9 Leticia Martinez May 18, 2009 at 7:08 PM

    It seems as though the government allowed a wildfire to spread and barely now, they want to contain it. However, it seems too late. At this point it seems that we’re going to have to just let it burn out by it’s self. nothing the state can do will have any support from the people because all faith in the system has diminished. Is there any point in the state trying to regulate things, at this point, does anything help?

  10. 10 Santi Orona May 18, 2009 at 10:16 PM

    Wow. Although large numbers are thrown around involving our government, I feel this figure will truly affect people. While we don’t usually think about our trillion dollar deficit, it appears the solution to California’s budget crisis is cutting programs and jobs. I don’t see anyone being exempt from the effects of the deficit.

  11. 11 Rachel Sturm May 19, 2009 at 4:34 PM

    I find it hard to believe that with all the experts we have writing and rewriting our state budget, we have yet to find a solution. I once read that if California was a country, it would be something like the 3rd richest. Now, I dont know if that statement still holds at the present, but I do know that California has a huge Agriculture industry, as well as med/tech/envir industry. It seems strange to think that with all the money that the state is given via taxes or from other sources, the budget remains questionable. Where exactly is our money going to?

  12. 12 Andrew Curry May 25, 2009 at 7:15 PM

    well i guess we should all prepare for our state wide Armegadden since all 1A-1E failed. i think that some of these could have really helped our economy in the short run which would have gave us a positive outlook into the future for the long run

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