Beyond California: States in Fiscal Peril

Discussion in 'Economics' started by Debaser82, Nov 15, 2009.

  1. Many economists are optimistic that America’s Great Recession may be turning the corner. States, however, are not celebrating. Plagued by record-setting revenue losses, the housing bust and credit crisis, high unemployment and a host of other challenges, states have struggled through nearly two years of budgetary pain—and are bracing for more.

    California’s fiscal problems are in a league of their own—but the Golden State is hardly alone. Some of the same factors driving California toward the brink of insolvency also are hurting an array of other states.

    This report, Beyond California: States in Fiscal Peril, takes a close look at nine states particularly affected: Arizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island and Wisconsin.

    While not a comprehensive diagnosis of states’ fiscal health, this study begins to help us understand why some states are suffering more acutely from the nation’s economic crisis than others—and which may have the toughest time regaining their footing.
  2. Acid test of a true RECOVERY....????

    Tax receipts are increasing.....

    Are they ????

    If not.....

    Then one can call it ....

    The govt. digging an even deeper hole to
    get itself out of.....

    The politicos just do not have the resolve....

    Therefore a muddling crash and burn scenario....worse than should have been....
  3. I was kinda hoping we could sell the democratic republic of california and our illegal aliens back to Mexico.
  4. libertad wrote "The politicos just do not have the resolve...."
    Well, yea, that's a valid point. However, leaving nutty conspiracy theories behind, it is my belief our politicians literally don't have the IQ, intellect, brains-whatever, to think critically. Their basic reasoning skills are lacking, in the extreme.
    I'm at a loss as to what else to ascribe this to.
  5. How about greedy, self-serving, hungry for power, lazy...

    Or, how about "... got the world by the GONADS, and ain't giving it up... besides the people are too stupid to force us to change...."?
  6. BSAM


    The politicos are corrupt.

    The politicos aren't the solution; the politicos are the problem. (Thank you Ronald Reagan.)

    The real question is: What year will "the people" say, no more?
  7. BSAM


    Ian, this is not correct. Many of these people are very intelligent. It's all about money/corruption.
  8. It's sad to constantly be reminded that our elected representatives are of such low character.