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Nancy Pelosi

Federal bailout of California now because they overspent?!

This bailout shit has to stop. Places that have been effected by hurricanes and massive job loss because of so called "free trade agreements" like Michigan don't over spend and have a $7 billion deficit. Why reward that?

I'm fed up. Is there any good news lately?
 
Paulson's BIG Emergency Bailout has opened the door. Everybody and his brother will now want bailouts.

The "too big to fail" doctrine is a weapon of mass financial destruction.

California should cut excessive spending first. Tighten its belt just like the rest of us. Too many programs, too many entitlements, too many ways taxpayer monies are being wasted. And that goes for every state in the union that operates on a deficit basis. Isn't this one of the reasons he helped recall the former governmor?

I am sick and tired of sob stories of governments: Local, state, and federal. I have no tears for them and I turn a deaf ear these days to governments and financial institutions and others crying wolf all the time.

Enough is enough damnit!!

Okay, :D I got that off my chest. :)
 
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I'm a Californian and I don't want a bailout. Maybe the state will learn some fiscal responsibility if they see the consequences of spending money you don't have or even money you can't borrow.

It is funny though how AIG needed a $86 Billion bailout, but the entire state of California is only looking for $7 Billion...LOL
 
It is warped that the special interest groups and unions prevent the legislature from cutting back $7 billion in CA. Arnold's been trying, but each time he tries to cut spending, the <fill in the blank> union portrays him as a monster.

We spend money on inefficient, wasteful government-run entitlement programs while completely ignoring CA's infrastructure.

CA should be going bankrupt in the next year. With housing values still needing to correct hard, here, there should be huge reductions on tax revenue for all its cities.

The only possible benefit, I have heard, is that illegal workers seem to not want to cross into California as much as before. Certainly, I've heard for the past 2 years that the flow of US dollars from CA to Mexico has virtually stopped. Mexico's 2nd largest source of outside revenue is from its citizens who live in CA who send back US dollars. (The only other greater source of income for mexico used to be its oil exports.)
 
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