California Budget Crisis Continues: State Layoffs, Municipal Robbery, and the Taxinator's Continued Adventures with Fiscal Insanity
You know, if I didn't live here I might find this to be funnier.
SAN FRANCISCO (Reuters) - California's massive budget deficit -- now seen at $24 billion -- is unnerving local governments statewide, which fear the state will grab some of their money and endanger their credit ratings.
Governor Arnold Schwarzenegger has proposed the state borrow $2 billion from local governments to help fill its budget shortfall, one of many controversial financial proposals the Republican governor has put forth to the state's Democrat-led legislature.
Other proposals include laying off thousands of state workers, sharply reduced spending for the state's two university systems, early release for prison inmates and eliminating state welfare that provides assistance to needy families -- proposals that have cast a gloom over legislators.
"People are walking around with their heads down," said Assemblywoman Noreen Evans, chairwoman of the legislature's budget conference committee.
Yes, Arnold, "borrowing" from local governments sounds like an excellent idea. Why don't we also legalize crack-cocaine since obviously you're high on the stuff to even suggest this?