Butterfly Rewards - earn free credits and redeem for good causes -  learn more!
my care2
make a difference

causes & news

news network

socially conscious news and video shared and rated by the community

The Oliver Twist of California


Business  (tags: California, budget, economy, Henry Paulson, Arnold Schwarzenegger, federal bailout, state budgets )

RC
- 416 days ago - nytimes.com
California is apparently in dire straits - so much so that AHnald has sent a letter to Treasury Czar Henry Paulson with feelers for $7 billion dollars from the Feds. Hey, where do we get in line?
Comments

RC deWinter (418)
Saturday October 4, 2008, 6:56 am
Now that the BIG CASH BAIILOUT floodgates have opened and gallons of red ink are flowing from our economy, where does it end? Should states that have mismanaged their budgets for years be allowed to take part in Paulson's apparently endless party of federal financial largesse? Is there going to be a servant's entrance tacked on to the Treasury Building where Mr. & Mrs. Main Street can line up with their begging bowls too? ENOUGH ALREADY!
 

Past Member (0)
Saturday October 4, 2008, 7:37 am
Cate if they dont pump this money into the market the complete eonomy will collapse! Like 1930 but nobody on this planet can tell what will happen with the inflation! I have heared that in the last two weeks all the stock markets loss 2000 Billion Dollars ! 500% inflation? Or like in Zimbabwe.... You go to Mac Donalds and buy a Mac for three million dollars !
 

FreeSpirit Running (436)
Saturday October 4, 2008, 7:41 am
Thank you so much Cate for this article.

Boy, what a mess this country is in right now. It's actually quite sickening to me to know that we are in such a bad state. We must all of us get together, the true believers in the USA to get this country as a whole again, for all our sakes, especially our childrens.

I just don't know what to say but, can you please think of running for presidentcy Cate?...lol...I swear you would be such a blessing with your knowledge of foreseeing what happens to all of us as a whole before things happen.

This is so noted hon. I love all of your articles, you speak the truth and are very brave to say it! I admire that in a person. Bravo Cate! You Rock! BTW, loved the way you did the "AHnold photo...ha!

Peace to all,
FreeSpiritRunning...
 

Joycey B. (695)
Saturday October 4, 2008, 8:10 am
As always, thanks for a very informative article Cate.
 

Joan Mclaughlin (133)
Saturday October 4, 2008, 8:31 am
If you find out where the line is located let me know.HAHA! with all the meducal procedures i've gone through,my teeth are rotting from the inside out.Maybe I can get get dental help!! Yeah Right! Here we go again,THE RICH GET RICHER AND THE POOR.......
 

Pamylle G. (244)
Saturday October 4, 2008, 8:34 am
Of course we needed to do something, Johan, BUT THIS WAS NOT IT ! Other alternatives were not even considered. It is blatant corruption.

I refer anyone who thinks it even has a chance of helping anyone but the rich to check out the 10/2/2008 interview with Nobel-prize winning economist Joseph Steglitz on the Democracy Now site.

On top of that, they're not "pumping" money into the market, the Federal Reserve is PRINTING money into the market. A sure-fire recipe for devasting inflation.

Whatever risks were to be taken should have been to help people stay in their homes, build infra-structure, etc. The bad judgements of multi-millionaires should NOT have been forgiven, much less rewarded !

Since the goverment is handing out money to the RIGHT people, I suppose we cannot blame "AHnald" for asking for a cut.

And Johan (and I ask this rhetorically, with respect), why would anyone want or need to buy a MAC, at any price ? Yuck !



 

Marian E. (175)
Saturday October 4, 2008, 8:54 am

Inflation wouldn't be such a problem if the wages kept pace. (Just imagine,
a 5 million a week paycheck.) Well of course it won't happen. The only way
for this to work is to keep the worker under the rate of inflation.

Thanks Cate.
 

Hans L. (1002)
Saturday October 4, 2008, 9:21 am
Thanks Cate! They will allways be in charge of how they will spread this money!
It will not reach mainstreet just wall street!

Socialism for the rich is what this is all about .....now that the capitalism does not work anymore we start with socialism but just for the richest people and companies! 150 Million US Citizens will help the richest get more rich.....

I like Nancy....the party is over...... do you realy think that the party is over?
I guess that GWB had a realy good bottle of Chateux Neuf du Pape on friday!
New Castle of the Pope.....how many new castles will they build with your money?

 

Stephen Hannon (216)
Saturday October 4, 2008, 9:26 am
They all suck!
 

Carolyn T. (244)
Saturday October 4, 2008, 10:31 am
Noted. Why, sure! you need a trillion or so to tide you over? No problem!
Better take two so you don't have to return to the well. States need bailout, municipalities need bailouts, I need a bailout...so send funny money asap. Jeez...it didn't take long for the craziness to begin to trickle down, did it? And from the state of California, lol! Can the other 49 be far behind? Thank you, Cate!
 

Judith J. (199)
Saturday October 4, 2008, 2:38 pm
Osama Bi laden, wanted to bring America to her knees who knew that George Bush would help him!!! Face it, we are in a lot of trouble! I watched Bill Maher's show last night and by the time it was over I was a wreck! I had no idea that they also gave the car companies that were having trouble 23 or 32 billion to help them out. Another 150 million was added on to the 700.
Making it a grand total of 850 billion and that is just the beginning! And we couldn't rebuild Katrina's mess! They still can't find the 2 trillion that they gave to the Pentagon on 9/10.
The 2 trillion just happened to be in the building that the jet went in to, so they say. A question came up the other day about the money, they said we still can't find it! Also on Rachel's show last night she was telling us that we had sent 300million dollars to Iraq to help them with television programs commercials, all that fun stuff kids!!! It just so happens that Gen. Petraeus translator is the guy with this money and is handing it out where it needs to go. That's just precious!!!!Bless their little hearts!!!!!!!!!!!!!!!!!!
 

Juniper R. (121)
Saturday October 4, 2008, 7:39 pm
Arnold hasn't PAID anyone in months!
 

Suzybell H. (221)
Saturday October 4, 2008, 8:03 pm
I want to know where that line is. and I have a few things to say as well. oh,Just give me the money!!!!! Thanks,Cate.
 

Denice G. (45)
Saturday October 4, 2008, 8:33 pm
There is not one good thing about this situation. Once again you and I, have been had by Bush.
 

Michelle Neubert (1)
Saturday October 4, 2008, 9:46 pm
this makes me wonder. why do states have to borrow? I have to wait to get a paycheck and then pay my bills. i don't borrow money, then get a paycheck, then pay the loan back, because the interest rates are too expensive. that would be like living off of payday loans.
This story tells me that government must be pretty special to be able to spend before they receive the taxes (about 45% of the gross national product goes to taxes of one kind or another to pay for government services and debts).
 

RC deWinter (418)
Sunday October 5, 2008, 4:42 am
Maasachusetts, under idiot Deval Patrick, another smooth talker who made big promises he couldn't keep, is now in line with its begging bowl. Read here: Program Cuts Announced Amid Federal Loan Inquiry
 

Tsandi Crew (95)
Sunday October 5, 2008, 8:24 am
Arny said he borrows 1.8 billion or so every year, and then pays it back by the end of the year. So why 7 billion this year?

Alice and the White Rabbit! I'd rather have Gracie Allen for President...she made so much more sense, and she was trustworthy!
 
Or, log in with your
Facebook account:
Please add your comment: (plain text only please. Allowable HTML: <a>)
20
20 log in or sign up to start earning Butterfly Credits today!


Track Comments: Notify me with a personal message when other people comment on this story


Loading Noted By...Please Wait

 

 
Content and comments expressed here are the opinions of Care2 users and not necessarily that of Care2.com or its affiliates.
Copyright © 2009 Care2.com, inc. and its licensors. All rights reserved