<\/p>\n
The nascent economic recovery isn’t enough to prevent a wreck at our own little Greece-on-the-Pacific, AKA California.<\/p>\n
Governor Arnold Schwarzenegger is now begging The White House to use its unlimited power of money creation to backstop the state.<\/p>\n
WSJ<\/a>:<\/p>\n Mr. Schwarzenegger’s proposed $82.9 billion general-fund budget for the 2010-11 fiscal year would close a $19.9 billion gap over 18 months. In addition to the federal aid, he called for $8.5 billion in cuts and $4.5 billion in alternative funding to balance the budget.<\/p>\n “It’s time to enact long-term reforms that will change the way the most populous state and the federal government work together,” Mr. Schwarzenegger said. He and state legislative leaders plan to visit Washington to lobby for bailout money. White House budget officials weren’t available for comment on the governor’s request.<\/p>\n Mr. Schwarzenegger said that without the federal aid, he would propose cutting $4.6 billion from state assistance programs and raise another $2.4 billion, largely by extending the suspension of tax breaks.<\/p>\n That California sends more tax dollars to Washington than it receives has been known for years. In fact, most populous, economically dynamic states are in the same boat. It’s the more rural, Conservative states that are the “welfare Queens” of America.<\/p>\n We doubt this will change anytime soon.<\/p>\n Meanwhile, Schwarzenegger has withdrawn his support<\/a> for Obama’s healthcare reform plan, though he doesn’t have too much influence on the matter. It’s just a funny stance to take when you’re begging for dough.<\/p>\n Join the conversation about this story »<\/a><\/p>\n See Also:<\/b><\/p>\n The nascent economic recovery isn’t enough to prevent a wreck at our own little Greece-on-the-Pacific, AKA California. Governor Arnold Schwarzenegger is now begging The White House to use its unlimited power of money creation to backstop the state. WSJ: Mr. Schwarzenegger’s proposed $82.9 billion general-fund budget for the 2010-11 fiscal year would close a $19.9 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-158067","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/158067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=158067"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/158067\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=158067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=158067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=158067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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