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RandySF

(61,847 posts)
Sun May 26, 2013, 01:42 PM May 2013

California Faces Huge Budget Surplus

LOS ANGELES — After years of grueling battles over state budget deficits and spending cuts, California has a new challenge on its hands: too much money. An unexpected surplus is fueling an argument over how the state should respond to its turn of good fortune.

The amount is a matter of debate, but by any measure significant: between $1.2 billion, projected by Gov. Jerry Brown, and $4.4 billion, the estimate of the Legislature’s independent financial analyst. The surplus comes barely three years after the state was facing a deficit of close to $60 billion.

At first glance, the situation should be welcome news in a state overwhelmingly controlled by Democrats, who have spent much of their time slashing programs they support. After last November’s elections, the party has two-thirds majorities in the Assembly and the Senate, relegating Republicans almost completely to the sidelines.

Instead, the surplus has set off a debate about the durability of new revenues, and whether the money should be used to reverse some of the spending cuts or set aside to guard against the inevitable next economic downturn.

http://www.nytimes.com/2013/05/26/us/californias-new-problem-too-much-money.html?hp&_r=1&

77 replies = new reply since forum marked as read
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California Faces Huge Budget Surplus (Original Post) RandySF May 2013 OP
I know, I know...FUND the master plan. nadinbrzezinski May 2013 #1
+1 - A good "pickle" for our state to be in, imo. pinto May 2013 #2
I sure would like to seriously revisit the Gray Davis recall. Gregorian May 2013 #3
I remember it well. Darryl Issa was behind the recall. Bette Noir May 2013 #20
Oh, I forgot about Issa. We really let the pukes run all over us. Gregorian May 2013 #35
Davis and Bustamante were suing . . . aggiesal May 2013 #53
And Ahnold and the Republicans ruined . . . and the nation. JDPriestly May 2013 #58
Memory recall. airplaneman May 2013 #65
Gray Davis was, to be kind, ineffectual. Jerry Brown in a whole different species. NYC_SKP May 2013 #47
They should save it to smooth out future bumps. dkf May 2013 #4
"Exodus". Bwaaaahaaaahaaa. Scuba May 2013 #38
Funny. That's exactly the argument Republicans and TeaBaggers use, even saying "exodus". BlueCaliDem May 2013 #52
Get those talking points in Kingofalldems May 2013 #67
We should be use to it by now NBachers May 2013 #73
public transportation CountAllVotes May 2013 #5
Spend it on infrastructure? What, does California want to be the only state that doesn't A Simple Game May 2013 #11
OFFS, spend it on things that will create jobs. Make7 May 2013 #6
But, Republicans have told us raising taxes isn't the answer NewJeffCT May 2013 #7
It's 2001 in reverse. Igel May 2013 #36
Just think how much more they would have Politicalboi May 2013 #8
+1 SCVDem May 2013 #17
They should mercuryblues May 2013 #9
Whatever they do with the money, bank it for a rainy day or use it to rebuild some of the calimary May 2013 #10
That theory does not always work. former9thward May 2013 #13
California was in the worst fiscal shape of the country .... Trajan May 2013 #22
Maybe you should read posts in the thread before jumping in on your high horse. former9thward May 2013 #23
To support and promote the Democratic Party and its essential philosophies Trajan May 2013 #24
You are here to disrupt a thread. former9thward May 2013 #25
You're funny. 2ndAmForComputers May 2013 #27
I am happy you find amusement. former9thward May 2013 #29
Yeah, this is the kind of site for that. 2ndAmForComputers May 2013 #32
Why are YOU AT DU...you constantly post concerns from the right about Democrats CreekDog May 2013 #54
I've never asked why someone is at DU unless they have asked me first. former9thward May 2013 #56
The person you are attacking with such broad strokes truedelphi May 2013 #76
Why am I not surprised post 10 bugged you and you felt you had to counter it? 2ndAmForComputers May 2013 #26
port 10? former9thward May 2013 #28
So mature. Latch on the typo to distract from the fact he isn't fooling anyone. 2ndAmForComputers May 2013 #31
you posted to badmouth the idea of a democratic governor and legislature CreekDog May 2013 #55
No I didn't but keep digging. former9thward May 2013 #57
Hire More Firefighters! Catch2.2 May 2013 #12
They could send some of it my way NV Whino May 2013 #14
The "rainy day" when... dogknob May 2013 #15
But wait! The Republicans said this can't happen! DFW May 2013 #16
How about reducing tuition at State-controlled universities? Bette Noir May 2013 #18
They need more universities adieu May 2013 #49
Jobs, jobs and jobs SCVDem May 2013 #19
Adult dental coverage again,...before California surfers look like Alabama shitkickers. Spitfire of ATJ May 2013 #21
Start a state owned bank. JeffHead May 2013 #30
I like this idea SwankyXomb May 2013 #64
YES! A State Owned Bank- I second this post NBachers May 2013 #74
No shock, given how they have slashed all public services to the bone. kestrel91316 May 2013 #33
Doesn't California still have a couple hundred billion dollar unfunded pension liability to cover? FarCenter May 2013 #34
Shhhh. (That is all.) Igel May 2013 #37
In the parlance of the present century, you are indulging in what is sometimes called Nimajneb Nilknarf May 2013 #39
Ding! Ding! Ding! SomeGuyInEagan May 2013 #51
So that is a $64 billion improvement, in three years? bemildred May 2013 #40
Marijuana a factor in the budget surplus? B Calm May 2013 #41
California is getting close to one trillion in debt madville May 2013 #42
Quick, demand rebate checks circa 2003 Bush tax cuts. That will solve the problem of a Nanjing to Seoul May 2013 #43
The big problem is that unless we somehow spend it, SoCalDem May 2013 #44
Keep the cash flow out of the hands of the righties and things should go well. toby jo May 2013 #45
Simple. Pay down the debt run up by the repukes during their mis-management on point May 2013 #46
Good now California can come and pick up "the arnold" statue in Columbus, OH Botany May 2013 #48
Obviously, they should immediately cut taxes for the rich. tclambert May 2013 #50
When tax-evading, money-hoarding, corprat-welfare-promoting, greed-driven GOP is driven out of power Triana May 2013 #59
They should put the money into the roads and bridges imo. nt cstanleytech May 2013 #60
And....according to a recent Sac-Bee story, Jerry is planning just that! Left Coast2020 May 2013 #70
Hardly allinthegame May 2013 #61
How about re-funding the state education system. K-12 and college. ElizabethWarren2016 May 2013 #62
This just proves that Republicans ARE the problem. alarimer May 2013 #63
Winner. California would be well served if voters make republicans there extinct. nt bluestate10 May 2013 #66
They essentially are at the moment. Filibuster proof majorities in both houses. Kablooie May 2013 #69
They should buy a bunch of California lottery tickets with it. Kablooie May 2013 #68
I remember reading and article in "Business Insider" by a right wing screwball about how the Clinton W T F May 2013 #71
Wasn't California the GOP's poster child for what is wrong with America? mick063 May 2013 #72
Give back what you took from the people. n/t Whisp May 2013 #75
California's need to create our own STATE BANK . . . aggiesal May 2013 #77
 

nadinbrzezinski

(154,021 posts)
1. I know, I know...FUND the master plan.
Sun May 26, 2013, 01:44 PM
May 2013

Fire could use (they will go through extra cash) an infusion right now.

I could go on

Oh and some to a rainy day fund

Gregorian

(23,867 posts)
3. I sure would like to seriously revisit the Gray Davis recall.
Sun May 26, 2013, 01:51 PM
May 2013

Why did Cruz Bustamonte stay so silent?

I don't feel this is too off topic. I also don't really remember enough to know what I'm talking about. I just remember the outrage, and perhaps criminal activities which lead up to the replacement of a governor.

Bette Noir

(3,581 posts)
20. I remember it well. Darryl Issa was behind the recall.
Sun May 26, 2013, 03:51 PM
May 2013

He wanted to be Governor, but Schwarzenegger had better name recognition. The State of California owes Gray Davis-- a good man-- a sincere apology and a basket of fruit.

Gregorian

(23,867 posts)
35. Oh, I forgot about Issa. We really let the pukes run all over us.
Sun May 26, 2013, 06:23 PM
May 2013

How pathetic. But I seem to remember some kind of pending litigation that Bustamonte had against someone, which may have actually been the reason for the recall.

Thanks for that tidbit.

aggiesal

(9,070 posts)
53. Davis and Bustamante were suing . . .
Mon May 27, 2013, 01:36 PM
May 2013

the energy companies that bilked Californian's out of $9B.

The Federal Election Regulatory Commission (FERC) agreed that
California's had been scammed out of $9B due to the energy crisis
of 2000, but also said if the energy companies repaid all $9B, they
could go bankrupted, so they recommended California accept a 3%
agreement, which Davis and Bustamante would not accept.

So the energy companies lead by Enron's Kenneth Lay held a meeting
at the Peninsula Hotel in LA, and decided to have Gray Davis recalled
and Ahhhnold replace him has Governator.

After being elected, Ahhhnold announced that he saw no reason to
continue the lawsuit against the energy companies, and 3 days after
being inaugurated as Governator, Ahhhnold signed the 3% agreement
with FERC, thus ending the lawsuit, and legitimizing the scam.

JDPriestly

(57,936 posts)
58. And Ahnold and the Republicans ruined . . . and the nation.
Mon May 27, 2013, 02:37 PM
May 2013

Now we have a Democratic governor and a Democratic legislature. And they have taught the world how to balance a budget -- raise taxes on those who have money AND make cuts.

As for our dilemma -- why not a little of each. Restore some of the budget items and save some. Let's have the banks pay us for a change. We still have a lot of Schwarzenegger bonds to repay.

airplaneman

(1,254 posts)
65. Memory recall.
Mon May 27, 2013, 08:35 PM
May 2013

I recall Arnold was going to clean up the 13 Billion deficit mess that Gray Davis was in and in reality he turned it into a 60 billion dollar mess. Republicans consistently make thing worse and it takes a democrat to fix them. I will not forgive California voters for approving the recall. I think the whole idea of a recall is a bad one short of a real felony being committed by the person while in office. I was very unhappy at the time and yes I think we owe Gray Davis a big apology. Just one more thing that has gone wrong in the last 30 years. I still have hope we may turn this whole mess around but the fight is a big one.
-Airplane

 

dkf

(37,305 posts)
4. They should save it to smooth out future bumps.
Sun May 26, 2013, 01:52 PM
May 2013

They haven't yet seen if there will be the impact of an exodus due to the taxes as this was retroactive with no time to prepare.

BlueCaliDem

(15,438 posts)
52. Funny. That's exactly the argument Republicans and TeaBaggers use, even saying "exodus".
Mon May 27, 2013, 01:22 PM
May 2013

Funny and strange.

Do you like pizza?

CountAllVotes

(20,897 posts)
5. public transportation
Sun May 26, 2013, 02:02 PM
May 2013

That is what is needed where I live as there is little if any of it to be found.

If you cannot drive any more, you must take a taxi into town and back for ~$85.00.

This situation needs to change as the rural areas of the state are losing residents quickly as there are no jobs and things are indeed in quite a depressed state (always have been here; likely always will be).

Also, Gov. Brown, the roads in this state need lots of work. Too many potholes and too many problems with the infrastructure had you not noticed. I heard the Bay Bridge was a fiasco and perhaps a major problem as well because, it was not built right and it has major risks associated with it.

I could go on and on and on, but I won't.

Lots to be done with this surplus and I rather suspect it could be quickly gone in a *flash* just like we've seen in the past.

Luckily, Gov. Brown is a prudent man and I hope his vision for the environment continues to be a major force in his plans for this state (i.e. public transportation!).



A Simple Game

(9,214 posts)
11. Spend it on infrastructure? What, does California want to be the only state that doesn't
Sun May 26, 2013, 02:45 PM
May 2013

have an underwater bridge? And if all of that extra money was spent on jobs to repair roads and bridges, then that will create more paychecks that would have to be taxed which would create a larger surplus! Where would you have this vicious circle stop?

Because I got in trouble with another post for not using it.

Make7

(8,543 posts)
6. OFFS, spend it on things that will create jobs.
Sun May 26, 2013, 02:09 PM
May 2013

There are still over 1,600,000 unemployed workers in the state - do they think the present downturn is over?

NewJeffCT

(56,830 posts)
7. But, Republicans have told us raising taxes isn't the answer
Sun May 26, 2013, 02:11 PM
May 2013

and all the millionaires would leave the state, leaving behind only the "takers"

How can this be so?

Igel

(35,566 posts)
36. It's 2001 in reverse.
Sun May 26, 2013, 06:52 PM
May 2013

In 2001 the federal "surplus" vanished because of tax cuts, increased spending, and decreased revenue. In about equal proportions.

In California the surplus is because of tax increases (when revenue growth curves were pointing up anyway), decreased spending, and increasing salaries that could be taxed.

In 2001 everybody picked the one cause they favored as the explanation for everything, when any one would do but all 3 were in effect.

So now I expect people to do the same. Those who like growing their way out of a deficit will point to increased earnings and taxable income. Those who like taxing people out of a deficit will point to increased tax rates. And people who like austerity will point to budget cuts.

After all, we're Americans and can only keep one thing in mind at a time. The idea of 3 simultaneous causes has got to be Nazi or French or something else dastardly.

 

Politicalboi

(15,189 posts)
8. Just think how much more they would have
Sun May 26, 2013, 02:30 PM
May 2013

If we legalize Marijuana. The tourist money alone would be staggering.

mercuryblues

(14,623 posts)
9. They should
Sun May 26, 2013, 02:30 PM
May 2013

split it. 1/2 billion to allocate to programs that have been cut. 1/2 billion for a rainy day fund not to be touched. Don't count on it being 4.4 billion until they actually see it.

calimary

(82,087 posts)
10. Whatever they do with the money, bank it for a rainy day or use it to rebuild some of the
Sun May 26, 2013, 02:39 PM
May 2013

programs that suffered cuts - which means more jobs - they ought to engage in this:

START PROMOTING THIS!!! Buy ads in other states that demonstrate what happens when you vote republi-CONS OUT and put Dems in, in unstoppable majorities. It means NO DEFICIT! Wanna get rid of the deficit? REALLY??? Then get rid of the GOP!!!THEY'RE the only ones stopping everything.

former9thward

(32,432 posts)
13. That theory does not always work.
Sun May 26, 2013, 02:52 PM
May 2013

Look at Illinois where Ds control the governorship and state legislature and have for many years. They are in the worst fiscal shape of any state in the country.

 

Trajan

(19,089 posts)
22. California was in the worst fiscal shape of the country ....
Sun May 26, 2013, 04:02 PM
May 2013

Now it is not .... Go figure ....

So ... according to your thesis: ALL states that are controlled by Democratic governors and Democratic State Legislatures are doomed to be in the horrible fiscal shape ?

Is this your philosophy ? ... Deny Democrats control of government in order to achieve fiscal success ?

Remind me again: Why are you here at DU ?

former9thward

(32,432 posts)
23. Maybe you should read posts in the thread before jumping in on your high horse.
Sun May 26, 2013, 04:09 PM
May 2013

The poster I was replying to said ALL states who have D governors and D legislatures will have good fiscal health. I pointed out one that does not fit that theory.

Remind me again: Why are you here at DU ?

 

Trajan

(19,089 posts)
24. To support and promote the Democratic Party and its essential philosophies
Sun May 26, 2013, 04:16 PM
May 2013

That is why I am here ....

I also don't brook RW interlopers in our midst ....

Perhaps Illinois has not quite reached the stage that California has reached, and will get there soon enough ??? ....

You want to criticize Democratic government control ? ... We will have more to discuss .....

EDIT: I reread the previous poster, and I do NOT see any reference to any other Democratic controlled states there ... Just a claim that when republicans are removed from power and their essential philosophies are denied, states somehow revive ...

You did not like that the poster wanted to remove the GOP from governance ?

former9thward

(32,432 posts)
25. You are here to disrupt a thread.
Sun May 26, 2013, 04:20 PM
May 2013

As you know I did not criticize Democratic control. I pointed out that by itself is not always the answer as Illinois demonstrates.

This is what the poster said: START PROMOTING THIS!!! Buy ads in other states that demonstrate what happens when you vote republi-CONS OUT and put Dems in, in unstoppable majorities. It means NO DEFICIT! Wanna get rid of the deficit? REALLY??? Then get rid of the GOP!!!THEY'RE the only ones stopping everything.
The poster said get rid of the GOP and the deficit will disappear. Is that automatically correct in all cases? How do you explain IL?

Now continue on your mission.

2ndAmForComputers

(3,527 posts)
32. Yeah, this is the kind of site for that.
Sun May 26, 2013, 04:33 PM
May 2013

You know, people for which the news in the OP is happy news. THOSE people.

CreekDog

(46,192 posts)
54. Why are YOU AT DU...you constantly post concerns from the right about Democrats
Mon May 27, 2013, 01:44 PM
May 2013

Since you asked that question of the other poster because they dared defend Democrats in California, you are getting asked the same question.

And the answer doesn't look very good.

former9thward

(32,432 posts)
56. I've never asked why someone is at DU unless they have asked me first.
Mon May 27, 2013, 01:53 PM
May 2013

I don't really care what you think.

truedelphi

(32,324 posts)
76. The person you are attacking with such broad strokes
Tue May 28, 2013, 04:15 PM
May 2013

Is talking about a truth.

Illinois is currently in terrible shape. I imagine that had it saved for a rainy day, it might not be in such terrible shape. i don't know the particulars - I live out here in the West Coast.

California is in terrible shape also - we have "on paper" a surplus - but many counties are hurting. The county I live in has watched as teachers are pink slipped, and libraries are having to worry. My county was spending some 17 millions of dollars a year on education, and now is attempting to make ends meet with between 9 and ten million.

That is a huge cut. If all the cuts to all necessary programs are made up, I am betting we won't see much of a surplus.

The problem with a surplus is that often it gets spent on ridiculous items, and then once another economic downturn hits, there is no back up. I watched how California had so much money it didn't know what to do with that money back in the late 1990's. Then the dot com collapse hit the state hard, and we were back to square one.

The idea of saving for a rainy day is not a bad idea. I think it should not be seen as an attack on whichever party is in office, but simply as the right thing to do. If every partisan voice says, "No, no way! -- the idea of saving a surplus is bad, as it is an attack on MY party," then we will never arrive at a sensible way of handling a state budget.

2ndAmForComputers

(3,527 posts)
31. So mature. Latch on the typo to distract from the fact he isn't fooling anyone.
Sun May 26, 2013, 04:32 PM
May 2013

By the way, thanks for showing up in this particular thread so us Democrats could have somebody to feel schadenfreude about.

NV Whino

(20,886 posts)
14. They could send some of it my way
Sun May 26, 2013, 03:07 PM
May 2013

I'm not greedy. Maybe just cover all the money I've lost since Bush moved into the White House.

dogknob

(2,431 posts)
15. The "rainy day" when...
Sun May 26, 2013, 03:14 PM
May 2013

Republicans manage to buy, cheat, rig, create-a-crisis-with-out-of-state-corporate-backing (Enron), or kill their way back into power, wreck everything again, then make sure it stays wrecked because their entire agenda depends on crisis and distraction.

That rainy day?

Now that the Republicans have been marginalized here, we need to work on getting rid of them completely so they never come back... like bedbugs. You gotta get the eggs, too.

DFW

(54,963 posts)
16. But wait! The Republicans said this can't happen!
Sun May 26, 2013, 03:35 PM
May 2013

We're nothing but a bunch of tax-and-spend libbruls who only produce deficits that will mire our great-grandchildren in debt for the next fourteen generations, just like Bill Clinton did.

Er, that is, I mean, ummmmm.....

Never mind.

Bette Noir

(3,581 posts)
18. How about reducing tuition at State-controlled universities?
Sun May 26, 2013, 03:48 PM
May 2013

And maybe installing sewers in the unserved portions of Los Angeles. That septic tank was one of the reasons I moved.

 

adieu

(1,009 posts)
49. They need more universities
Mon May 27, 2013, 12:48 PM
May 2013

Back in the 80s, there were nine UC campuses, one being primarily a graduate medical school. Back then, there were probably around 20 million people living in the state. Now, we have close to double that number of people, and we have... ten UC campuses. You add an additional 2 million people of college age and add just one campus, it doesn't compute.

JeffHead

(1,186 posts)
30. Start a state owned bank.
Sun May 26, 2013, 04:32 PM
May 2013

Use that money to capitalize a state run bank and insulate the states economy from wall street. When wall street crashes the national economy, which it inevitably will, the effects on California's economy will be much less. It works well in North Dakota.

SwankyXomb

(2,030 posts)
64. I like this idea
Mon May 27, 2013, 04:39 PM
May 2013

If nothing else, you could let the marijuana dispensaries finally stop using all cash.

 

kestrel91316

(51,666 posts)
33. No shock, given how they have slashed all public services to the bone.
Sun May 26, 2013, 04:37 PM
May 2013

Maybe they can find a way to repave our major city thoroughfares that are falling apart now. And run a few more buses on existing routes (that got slashed a few years ago).

 

FarCenter

(19,429 posts)
34. Doesn't California still have a couple hundred billion dollar unfunded pension liability to cover?
Sun May 26, 2013, 05:07 PM
May 2013

$1.2 or $4.4 billion won't go very far towards plugging the unfunded pension hole.

 

Nimajneb Nilknarf

(319 posts)
39. In the parlance of the present century, you are indulging in what is sometimes called
Mon May 27, 2013, 06:33 AM
May 2013

"Harshing someone's mellow," I believe.

SomeGuyInEagan

(1,515 posts)
51. Ding! Ding! Ding!
Mon May 27, 2013, 01:18 PM
May 2013

Of course, I guess they could pretend they don't owe the pension fund - that's how the big boys in Corporate America work.

bemildred

(90,061 posts)
40. So that is a $64 billion improvement, in three years?
Mon May 27, 2013, 06:46 AM
May 2013

So in another three years we should have a $68 billion surplus. HELL YES! Free tuition for all! Free medical care for all! Nobody has to work!

madville

(7,413 posts)
42. California is getting close to one trillion in debt
Mon May 27, 2013, 06:56 AM
May 2013

They ever think of just paying some of that off? 500 billion of it is unfunded retiree pension and healthcare obligations, maybe invest the surplus in their funds so they can receive the retirement benefits they have earned.

 

Nanjing to Seoul

(2,088 posts)
43. Quick, demand rebate checks circa 2003 Bush tax cuts. That will solve the problem of a
Mon May 27, 2013, 07:16 AM
May 2013

surplus!

But CA right back into deficit, where all Republicans wants us to be.

SoCalDem

(103,856 posts)
44. The big problem is that unless we somehow spend it,
Mon May 27, 2013, 08:10 AM
May 2013

there is a republican funded consortium champing at the bit to swoop in and take it ....again..

It's just what they do.

They are the party of grifters. In times of plenty, they use their fast-talking/skewed nonsense to weasel their way into offices where they can start the siphoning off of public funds. Once they have bankrupted the state, they slink off & let a clean-up crew of democrats come in & restore the balance, amass another surplus, and then the grifters come around again..We need a massive state-wide push for public transportation, wildfire fighting enhancements, education funding assistance to students who now cannot afford college. As someone who pays a fair share of taxes, I do NOT want a tax cut.. I want better services for ALL...

 

toby jo

(1,269 posts)
45. Keep the cash flow out of the hands of the righties and things should go well.
Mon May 27, 2013, 10:18 AM
May 2013

Alot of good ideas here.

Botany

(70,956 posts)
48. Good now California can come and pick up "the arnold" statue in Columbus, OH
Mon May 27, 2013, 11:32 AM
May 2013


I think it needs a 'roid needle sticking out of Arnold's butt.
 

Triana

(22,666 posts)
59. When tax-evading, money-hoarding, corprat-welfare-promoting, greed-driven GOP is driven out of power
Mon May 27, 2013, 02:37 PM
May 2013

...that's what happens.

Left Coast2020

(2,397 posts)
70. And....according to a recent Sac-Bee story, Jerry is planning just that!
Mon May 27, 2013, 11:26 PM
May 2013

But the story that ran a couple-three weeks ago about this surplus, the Governor was quoted as being "cautious" about it staying that way--for awhile.

allinthegame

(132 posts)
61. Hardly
Mon May 27, 2013, 03:20 PM
May 2013

This is not a huge surplus. We put ourselves in a $26 billion dollar hole because we spent every dime we took in last time.
Instead of giving free dental care to the needy (an actual proposal) we should save it until we determine if this largesse is going to continue and if it is infrastructure projects should be first and front.

alarimer

(16,245 posts)
63. This just proves that Republicans ARE the problem.
Mon May 27, 2013, 03:27 PM
May 2013

They are morally bankrupt but also fiscally irresponsible. With this money, I would immediately lower tuition at state universities and shore up their budgets.

Kablooie

(18,675 posts)
68. They should buy a bunch of California lottery tickets with it.
Mon May 27, 2013, 10:33 PM
May 2013

They could buy enough to guarantee that they win.

W T F

(1,152 posts)
71. I remember reading and article in "Business Insider" by a right wing screwball about how the Clinton
Tue May 28, 2013, 12:12 AM
May 2013

Surplus "destroyed the economy" I wonder how They're going to spin this one. I don't know about the rest of you, but when ever I had money left over after paying bills, It seemed to improve my finances.

 

mick063

(2,424 posts)
72. Wasn't California the GOP's poster child for what is wrong with America?
Tue May 28, 2013, 01:19 AM
May 2013

I have read that the wheels have fallen off the cart with respect to Republican infrastructure in California. This explains the huge turnaround in their state coffers.

aggiesal

(9,070 posts)
77. California's need to create our own STATE BANK . . .
Tue May 28, 2013, 05:00 PM
May 2013

There is no reason to continue paying the BIG BANKS interest on our money.
If we had our own state bank, where all the states business would have to
operate from, the interest alone would be around $20B (based on conservative
estimates).

But we all know that the BIG BANKS are not going to let that happen.
They have waaaaay tooooo much skin in the game.

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