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devance

Why I never.

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http://www.bloomberg.com/apps/news?pid=206...mA&refer=us

'California Governor Arnold Schwarzenegger said he must slash aid to poor children and the elderly, shutter state parks, shrink school funding and release 22,000 inmates early to plug a $14 billion deficit.

The governor proposed a $141 billion budget that cuts expenditures on every state program by 10 percent for the fiscal year beginning July 1. The spending plan, which doesn't include tax increases, is down from this year's $145 billion budget. He said he would halt early repayment of $12 billion in deficit bonds sold in 2004 and propose selling an additional $3 billion of the debt to help bridge the current gap.

``It would be wrong to raise taxes on people to cover Sacramento's overspending,'' Schwarzenegger, 60, told reporters in Sacramento. ``We have to control the budget because right now the budget is controlling us.''

Schwarzenegger invoked never-before-used emergency powers that would force lawmakers in the most populous U.S. state to pare $3 billion from the current budget. The Legislature has 45 days to deal with the shortfall. Should lawmakers fail to find a solution in that time, they would be barred from doing any other legislative work or adjourning.

The governor announced earlier this week that he would seek a voter-approved constitutional amendment to permanently cap spending and require the state to set aside a portion of surplus revenue during flush years to stabilize the budget in lean times. He said California's budgets are dictated by mandatory spending increases and a boom-and-bust cycle of revenue tied to income taxes. '

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I think he right, and he is trying to deal with a socialistic problem and wheres the money coming from.

Enron disaster.

Privatizes the primary water and electrical grid.

Was just the start.

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It’s interesting when sometimes you just get the feeling... 'This is just the beginning...'

It’s like watching the first card fall in the house of cards.

Start saving your pennies folks!

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