California in the red by $127.2 billion, state auditors say

[Juan de Fuca]

Wealth distribution always ends up the same way, a tangled mess of unsustainable debt fueled by government and bureaucratic waste.

The report says that the state’s negative status increased that year, largely because it spent $1.7 billion more than it received in revenues and wound up with an accumulated deficit of just under $23 billion in fiscal year 2011-2012, the Sacramento Bee stated.

Gov. Jerry Brown has referred to the deficit and other budget gaps, mostly money owed to schools, as a “wall of debt” totaling more than $30 billion, the Sacramento Bee reported.

California in the red by $127.2 billion, state auditors say

The proposed solution will, of course, be predictable. Raise more taxes!

It is and it is already been passed by the voters:

"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."

Read more here: Capitol Alert: State auditor: California's net worth at negative $127.2 billion - sacbee.com

Anywhere else and this story might have a tragic ending but when you have one of the leading economies in the world it does make the task a bit easier.

 

[Wyatt earp]

We are blue States, we honor our debts.

So you'll be screwing your retirees, eh comrade?

only red States, do that; eh komissar.

A State can't go bankrupt it's illegal or the blue state of Illinois would of done it.. You do know cities of California declared for bankruptcy right?

we recently legalized pot. we expect around a billion a year in California. local governments can also tax it.

It'll just be cheaper to buy it on the black market, and I suspect most will. No taxes, no revenue

IDK I have a friend in Colorado who always brags about it... He tells me he gets coupons for it.

 

[Remodeling Maidiac]

What a shocker for a state with millions upon millions of ILLEGAL ALIENS

 

[JBond]

we expect around a billion a year in pot revenue.

And you'll still be 2 Billion a year in the hole giving everything to everyone in your Liberal Dystopia.

Why doesn't California do The United States a favor and cede from The Union?

Let them fund their own Liberal "Paradise" like Cuba did.

They are net drain on our resources.

We are blue States, we honor our debts.

Except for state pension plans...

 

[The Original Tree]

It would help Lefty California import more illegals at a much faster pace you know.

They need those federal dollars for as many anchor babies and dreamers as they can get as they are drowning in debt.

Wealth distribution always ends up the same way, a tangled mess of unsustainable debt fueled by government and bureaucratic waste.

The report says that the state’s negative status increased that year, largely because it spent $1.7 billion more than it received in revenues and wound up with an accumulated deficit of just under $23 billion in fiscal year 2011-2012, the Sacramento Bee stated.

Gov. Jerry Brown has referred to the deficit and other budget gaps, mostly money owed to schools, as a “wall of debt” totaling more than $30 billion, the Sacramento Bee reported.

California in the red by $127.2 billion, state auditors say

The proposed solution will, of course, be predictable. Raise more taxes!

They just need to waste $10s of billions on a high speed train that no one will ever ride.
That'll fix them right up. And more illegal aliens. Yup! Easy peasy.

Because SO many people NEED that train from Bakersfield to Fresno.

 

[BrokeLoser]

we expect around a billion a year in pot revenue.

Working some quick arithmetic Danny style:
$127B in the red and $1B per year in positive weed revenue...so California will be in the black in only 127 years...that's so AWESOME!

And you'll still be 2 Billion a year in the hole giving everything to everyone in your Liberal Dystopia.

Why doesn't California do The United States a favor and cede from The Union?

Let them fund their own Liberal "Paradise" like Cuba did.

They are net drain on our resources.

We are blue States, we honor our debts.

So you'll be screwing your retirees, eh comrade?

only red States, do that; eh komissar.

A State can't go bankrupt it's illegal or the blue state of Illinois would of done it.. You do know cities of California declared for bankruptcy right?

we recently legalized pot. we expect around a billion a year in California. local governments can also tax it.

You do realize that only the white collar types are buying across the counter right?
The bulk of the volume is still being sold illegally out the back door and on the black market.

 

[Dr Grump]

The deficit is 5 per cent of the state's GDP. ie, nothing...

To give you an example, US debt is over 100 per cent of the country's GDP

 

[Wyatt earp]

The deficit is 5 per cent of the state's GDP. ie, nothing...

To give you an example, US debt is over 100 per cent of the country's GDP

The difference is the government has the feds.. States don't, city's don't.

And I still want to know how Obama can blow over 9 trillion dollars..

On what?

 

[Dr Grump]

The deficit is 5 per cent of the state's GDP. ie, nothing...

To give you an example, US debt is over 100 per cent of the country's GDP

The difference is the government has the feds.. States don't, city's don't.

And I still want to know how Obama can blow over 9 trillion dollars..

On what?

What does the fed have to do with a state's budget? The state still collects taxes.

As for Obama. Couple of things. There were a couple of wars going on and this thing called the GFC. You might have heard of it...

 

[Dont Taz Me Bro]

It'll just be cheaper to buy it on the black market, and I suspect most will. No taxes, no revenue

Is that what's happening in the other states that already legalized it?

 

[Rexx Taylor]

What a shocker for a state with millions upon millions of ILLEGAL ALIENS

I thought we sold California on ebay for $42.50

 

[Dont Taz Me Bro]

we recently legalized pot. we expect around a billion a year in California. local governments can also tax it.

And that still won't be enough. Your long-term public pension debt is a black hole

 

[keepitreal]

we expect around a billion a year in pot revenue.

And you'll still be 2 Billion a year in the hole giving everything to everyone in your Liberal Dystopia.

Why doesn't California do The United States a favor and cede from The Union?

Let them fund their own Liberal "Paradise" like Cuba did.

They are net drain on our resources.

We are blue States, we honor our debts.

We are blue States, we honor our debts.

If your state honored it's debts, it wouldn't be in the red!

No state should be spending more than it receives in revenue!

I live in Illinois, Chicago...and, as a poster stated...
Illinois would have already filed bankruptcy

Every time they increase taxes in Chicago,
it proves to me it's worse than anyone knows.
They just created a new tax that went into effect Feb 1st

You have to pay a 7¢ tax on bags, any bags
Whether you're at the grocery store or Bath and Body Works
I am so fucking sick of the incompetent, corrupt thrives

I hate Rahm and Daley and Burke should be in jail
If ever I'm able to move out of Illinois, I'm gone!

ETA...how I could forget?
Mike Madigan should be in jail as well
How that fucker gets re-elected is beyond me...
This election he was unopposed.... AARRRRGGGG!!!!!!

PEOPLE ARE SO FUCKING STUPID

 

[TomParks]

They better tax taco's or something

 

[jillian]

What a shocker for a state with millions upon millions of ILLEGAL ALIENS

I thought we sold California on ebay for $42.50

nice troll, little boy

 

[Wyatt earp]

The deficit is 5 per cent of the state's GDP. ie, nothing...

To give you an example, US debt is over 100 per cent of the country's GDP

The difference is the government has the feds.. States don't, city's don't.

And I still want to know how Obama can blow over 9 trillion dollars..

On what?

What does the fed have to do with a state's budget? The state still collects taxes.

As for Obama. Couple of things. There were a couple of wars going on and this thing called the GFC. You might have heard of it...

You're trying to change the goal posts again Californians was bragging on here and other forums that California had a huge surplus just last year..

Something had to happen.. More liberal common core math I suppose?

And with my complaint on Obama spending over 9 trillion.. And you blame the wars.. It appears on the wires half our Navy aircraft can't even fly..

So what was the money spent on?. It sure wasn't infrastructure..

 

[BluesLegend]

Don't worry brah, all I need are some tasty waves, a cool buzz, and I'm fine.

 

[Wyatt earp]

we expect around a billion a year in pot revenue.

And you'll still be 2 Billion a year in the hole giving everything to everyone in your Liberal Dystopia.

Why doesn't California do The United States a favor and cede from The Union?

Let them fund their own Liberal "Paradise" like Cuba did.

They are net drain on our resources.

We are blue States, we honor our debts.

We are blue States, we honor our debts.

If your state honored it's debts, it wouldn't be in the red!

No state should be spending more than it receives in revenue!

I live in Illinois, Chicago...and, as a poster stated...
Illinois would have already filed bankruptcy

Every time they increase taxes in Chicago,
it proves to me it's worse than anyone knows.
They just created a new tax that went into effect Feb 1st

You have to pay a 7¢ tax on bags, any bags
Whether you're at the grocery store or Bath and Body Works
I am so fucking sick of the incompetent, corrupt thrives

I hate Rahm and Daley and Burke should be in jail
If ever I'm able to move out of Illinois, I'm gone!

ETA...how I could forget?
Mike Madigan should be in jail as well
How that fucker gets re-elected is beyond me...
This election he was unopposed.... AARRRRGGGG!!!!!!

PEOPLE ARE SO FUCKING STUPID

I am a Chicagoan also.. Left to south Carolina in 2004..

My advice get out as fast as you can..

I hate Michelle madigan

 

[keepitreal]

we expect around a billion a year in pot revenue.

And you'll still be 2 Billion a year in the hole giving everything to everyone in your Liberal Dystopia.

Why doesn't California do The United States a favor and cede from The Union?

Let them fund their own Liberal "Paradise" like Cuba did.

They are net drain on our resources.

We are blue States, we honor our debts.

We are blue States, we honor our debts.

If your state honored it's debts, it wouldn't be in the red!

No state should be spending more than it receives in revenue!

I live in Illinois, Chicago...and, as a poster stated...
Illinois would have already filed bankruptcy

Every time they increase taxes in Chicago,
it proves to me it's worse than anyone knows.
They just created a new tax that went into effect Feb 1st

You have to pay a 7¢ tax on bags, any bags
Whether you're at the grocery store or Bath and Body Works
I am so fucking sick of the incompetent, corrupt thrives

I hate Rahm and Daley and Burke should be in jail
If ever I'm able to move out of Illinois, I'm gone!

ETA...how I could forget?
Mike Madigan should be in jail as well
How that fucker gets re-elected is beyond me...
This election he was unopposed.... AARRRRGGGG!!!!!!

PEOPLE ARE SO FUCKING STUPID

I am a Chicagoan also.. Left to south Carolina in 2004..

My advice get out as fast as you can..

I hate Michelle madigan

I am a Chicagoan also.. Left to south Carolina in 2004..

My advice get out as fast as you can..

I hate Michelle madigan

I wish I were already gone!
I don't have the financial means

I pay $30 in city and state taxes for cable
$7.50 city amusement tax
$5+ sports broadcast fee
$3+ 911 fee

The 911 tax was supposed to be only until
the new 911 call center they built was paid off.

The city council created a peanut tax...
You pay more for a snicker bar then a Hershey bar

They created a soda tax, a fruit juice tax

Now, this new bag tax...it's just unreal!

 

[Slyhunter]

we expect around a billion a year in pot revenue.

Cash businesses, hard to get taxes off of.