Posts Tagged 'crisis'

Debate Video: Krugman vs. Taylor

Paul Krugman and John B. Taylor debated the origins of the financial crisis and President Obama’s proposed health care plan.

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February’s Auto Sales

Here are the auto companies U.S. sales for February. These are the year-over-year percent declines:

-48%   Ford
-44%   Chrysler
-53%   GM
-40%   Toyota
-21%   Honda
-37%   Nissan

The Credit Crisis Visualized-Video

A visual video about our credit crisis. (Hat Tip, my wife)

Eliminating all School and College Sports Programs?

Marin County is one of the richest counties in the U.S. Novato may cut its entire sports program to save $6 million. What if every school and college cut its sports programs? Is this a good idea or a bad one?

Marin County’s Novato Unified School District alarmed parents with a proposal to cut its entire sports program to help save $6 million over two years, which would affect about 75% of Novato’s 8,600 students. “When the community heard about the possible cut, they freaked out,” said Superintendent Jan La Torre-Derby, who adds that “it’s not set in stone yet.”

California Budget Vote Tuesday

The Senate will vote Tuesday on California’s budget deadlock. Californians should prepare themselves for the biggest lobby effort ever. Nobody will like this budget and we will hear from everyone when the details emerge. The best hope is everyone cancels out each other and a budget is passed.

Buckle your seat belts – the ride is about to get wild in Sacramento, with state Senate President Pro Tem Darrell Steinberg planning to put a $42 billion budget deal up for a vote.

The deal – a combination of cuts and tax hikes – is expected to be unveiled Monday, then put up for a vote Tuesday.

Whether there are enough Republican votes to make it fly, however, is unknown.

“Darrell has made it clear that there was no handshake agreement, and there may not be the votes,” said one Democratic state senator who was briefed on the plan, but asked not to be named because of the sensitive nature of the talks.

“They are close, and hopefully it will pass,” added a member of the governor’s staff. “But there are still some major issues to be worked out.”

The biggest stumbling block for Republicans – whose support is required for the necessary two-thirds passage – is voting for any tax increase.

California is Almost Bankrupt

Because of the political gridlock and no California budget, the state will start delaying payments and issuing IOU’s next month. Here is California’s Department of Finance’s 161-page report which lists  5,300  public works projects which will be suspended or delayed indefinitely because of the state’s cash crunch.

California already has a higher than average unemployment rate, these delays will probably widen the unemployment gap.