What happened to all of the doom and gloom economic threads?

[unregistered]

 

[mercury14]

Not in my state, Democrats own our problems here.

They have complete control. The state will never be Republican again. The state is full of illegals and dominated by public employee unions.

So you can't name any two-term Republican governors of California in recent history? According to Wikipedia, in the last thirty years there have been 24 years of Republican governors in your state and 6 years of Democratic governors.

 

[mercury14]

Eight of Gallup's top 10 most-miserable cities in the US are in red states; eight of their top 10 happiest cities are in blue ones.

 

[JohnnySavage]

Vette's crocodile tears about California being bankrupt piqued my interest this morning. Not because I give a rat's ass about California, or Vette for that matter (He's hiding behind ignore so I have license to point and laugh whenever I want... well, pointing and laughing at a senile old fool might keep me from reaching Valhalla.) but it's an interesting exercise in the study of ignorance.

Here's the entire article:

Were California's state government a business THIS IS ALWAYS A RED HERRING BECAUSE GOVERNMENTS AREN'T BUSINESSES... THEY ARE GOVERNMENTS, it would be a candidate for insolvency with a negative net worth of $127.2 billion, according to an annual financial report issued by State Auditor Elaine Howle and the Bureau of State Audits.

The report, which covers the fiscal year ending June 30, 2012, says that the state's negative status -- all of its assets minus all of its liabilities -- increased that year, largely because it spent more than it received in revenue.

During the 2011-12 fiscal year, the state's general fund spent $1.7 billion more than it received in revenues and wound up with an accumulated deficit of just under $23 billion from several years of red ink. Gov. Jerry Brown has referred to that and other budget gaps, mostly money owed to schools, as a "wall of debt" totaling more than $30 billion.IT HAD A $1.7 BILLION DEFICIT, AND THAT'S WHAT'S GETTING THE "LARGELY BECAUSE" TAG IN THE SUPPOSED $127.2 HIT?

Last November, voters passed an increase in sales and income taxes that Brown says will balance the state's operating budget and allow the debt wall to be gradually dismantled.

About half of the $127.2 billion in accumulated red ink came from the state's issuing general obligation bonds and then giving the money to local governments and school districts for public works projects, the auditor pointed out. The assets built with the bonds remain on local balance sheets while the bonded debt accrues to the state.WHAT ABOUT THE OTHER ASSETS? HOW MUCH IS ALL THE STATE PROPERTY WORTH? OIL AND MINERAL RIGHTS THE STATE OWNS? CARS, BUSSES, GUARD EQUIPENT? BUILDINGS, FURNATURE/FIXTURES/EQUIPMENT?

The remainder, however, is all on the state's ticket. "Expenses that exceeded revenues and increased long-term obligations resulted in an 81.4 percent decrease in the total net assets for governmental and business-type activities from the 20-10-11 fiscal year," said the report.

The report listed the state's long-term obligations at $167.9 billion, nearly half of which ($79.9 billion) were in general obligation bonds, with another $30.8 billion in revenue bonds, many of which were issued to build state prisons, whose "revenue" is lease payments from the state general fund.STOP PUTTING NON-VIOLENT PEOPLE IN PRISON. THE US IS A PRISON NATION WITH ONE OF THE HIGHEST RATES OF INCARCERATION IN THE WORLD. OF COURSE, VETTE WOULD JUST EXECUTE EVERYONE

The list of long-term obligations did not include the much-disputed unfunded liabilities for state employees' future pensions, nor the $60-plus billion in unfunded liabilities for retiree health care. The Governmental Accounting Standards Board and Moody's, a major bond credit rating house, have been pushing states and localities to include unfunded retiree obligations in their balance sheets and were they to be added to California's, it could push its negative net worth down by several hundred billion dollars.


The problem with all these hit pieces where some talking head gnashes their teeth about how a government isn't being run like a business, is that a government isn't supposed to be run like a business. Further, GAAP doesn't apply to a government, yet these pin-heads always want to use GAAP principles for the liability side of the balance sheet, but never worry about the assets side.

Of course, people are generally pretty stupid. And stupid articles like this one are taken by stupid people like Vette and elevated to Word 'O God status.

 

[RobDownSouth]

Not in my state, Democrats own our problems here.

Once again, the Vettebigot eschews personal responsibility for himself or his political heroes.

That's what cowards do.

 

[RobDownSouth]

Two notes about their methodology: they didn't include freedom to unionize and abortion rights in it. These are two tremendously important freedoms in the modern era and excluding them makes the rankings pretty meaningless.

Actually they did, though it's hidden in the fine print.

Reich-to-Work states get an additional 2% "freedom" bonus.
States with union shops get a 2% "freedom" penalty.

Unions make us "less free", don'tcha know.

 

[JohnnySavage]

Goldnicks, call your offices!

 

[JohnnySavage]

Heathcare insurance stocks going nuts!

Obamacare is great for the private sector.


It seems like just a week ago I was reading here that the insurance companies were going to be put out of business.

I'm glad I don't take investing advice from here.

 

[mercury14]

Heathcare insurance stocks going nuts!

Obamacare is great for the private sector.


It seems like just a week ago I was reading here that the insurance companies were going to be put out of business.

I'm glad I don't take investing advice from here.

Ish, AJ, Vette, fuckwaffle, and others are all on record saying that Obamacare killed the private insurance industry by giving them 35 million new customers. They're all going out of business any day now, like in 2010 or something.

 

[koalabear]

Ish, AJ, Vette, fuckwaffle, and others are all on record saying that Obamacare killed the private insurance industry by giving them 35 million new customers. They're all going out of business any day now, like in 2010 or something.

*views post*

If only the 35 million people had money for insurance, MORON.

 

[JohnnySavage]

Ish, AJ, Vette, fuckwaffle, and others are all on record saying that Obamacare killed the private insurance industry by giving them 35 million new customers. They're all going out of business any day now, like in 2010 or something.

As far as I can tell, none of the four have jobs so their economic opinions hold no value.

 

[LadyVer]

They have complete control. The state will never be Republican again. The state is full of illegals and dominated by public employee unions.

Interesting..I can kind of relate to how you feel..Seems like an eternity that Perry's been in office, and that Texas was Blue. In the meantime Texans wonder exactly when their great state went to hell in a hand basket. I tend to think it was when Republican leaders lost their minds due to their misunderstandings of what exactly God told them to do as legislators.

 

[unregistered]

 

[JohnnySavage]

Nearly every state has a constitutional requirement to have a balanced budget.

What the article reveals is that the red states are over taxing their citizens. That's the only way any government can have a surplus.

 

[mercury14]

California, who also raised taxes on the rich, was supposed to post a small surplus this year. But tax collections are coming in at 10.8 percent below budget projections. As a result, the state is now projected to be $1.9 billion in the red by the end of this fiscal year.

Under Ahnold, California had a $28 billion deficit. Then a Democrat replaced him and got his own budget through the assembly and turned it into a $1.9 deficit. And if a surplus doesn't happen in Q1 they're on track to make it later in the year.

That's a bad thing according to Vette.

 

[mercury14]

Nearly every state has a constitutional requirement to have a balanced budget.

What the article reveals is that the red states are over taxing their citizens. That's the only way any government can have a surplus.

States like Texas are also "balancing" their budget by deferring billions in Medicaid payments to future budgets.

 

[Adre]

Under Ahnold, California had a $28 billion deficit. Then a Democrat replaced him and got his own budget through the assembly and turned it into a $1.9 deficit. And if a surplus doesn't happen in Q1 they're on track to make it later in the year.

That's a bad thing according to Vette.

He'll spin something about the ruination of the civil society or some such load of crap.

 

[JohnnySavage]

Blackberry is dead. Stick a fork in it... or a moose horn.

 

[JohnnySavage]

Caddy is kicking ass.

I had a Caddy STS. Best car I ever owned. I bought that car with 50,000 miles on it and then put another 150,000 on it. Never a bit of trouble and I never spent a dime on maintenance on it.

 

[Disgustipated]

Blackberry is dead. Stick a fork in it... or a moose horn.

Isn't their new OS supposed to save them?

 

[JohnnySavage]

Isn't their new OS supposed to save them?

They fell to 4th behind Microsoft. When Microsoft is selling more phones than you are, its time to find a new business.

It was a good run and a valuable experiment in commerce for our friends to the North, but its over.

 

[RobDownSouth]

Tennessee just passed a law banning the word "teaching" from schools and mandating that creationism be taught in science class regardless are to what the teachers, parents, or students want. Or what facts are. Tenn is somehow ranked #3.

Tennessee just passed legislation, awaiting the governor's signature, to dock welfare benefits for every grade below C that a student whose family receives welfare.

Jesus wept.

...and speaking of Jesus, the bill didn't pass until homeskooler were exempted.

MOAR FREEDOM IN TENNESSEE.

 

[unregistered]

 

[LadyVer]

Tennessee just passed legislation, awaiting the governor's signature, to dock welfare benefits for every grade below C that a student whose family receives welfare.

Jesus wept.

...and speaking of Jesus, the bill didn't pass until homeskooler were exempted.

MOAR FREEDOM IN TENNESSEE.

I don't get it. Why were home schoolers exempted? That doesn't even make sense.

 

[RobDownSouth]

I don't get it. Why were home schoolers exempted? That doesn't even make sense.

Conservative Christians disproportionately homeskool their wretched offspring.

Rapepublicans at this point cannot alienate any of their dwindling demographic.