Not just Petaluma Schools? All I could find on the web was from May20th that Petaluma was canceling ALL summer school classes.
They need to completely open the border with Mexico and lure some hard working people with free well fare, education and health insurance. Equilibrium will be reached eventually so why fight it?
two gems in that article 1) "The only state workers who would not face a pay cut are legislators and court workers, who have their own budgets. " 2) The union state workers, who are whining they have done enough, when they haven't been subjected to the layoffs like the rest of America, and one of the few groups left who get nice pensions (not just 401ks)
Nah. All the gold in Fort Knox is worth a pittance compared to US debt obligations. And if the US suddenly dumped gold, the price of gold would go through the floor.
Afraid you're right. U.S. gold holdings are 147.3 mil. ounces. Even at $2000 an ounce that is only 294.6 Billion dollars. The national debt is $63 Trillion.
"Thus far, Schwarzenegger has proposed devastating spending cuts that would eliminate popular health care, welfare and college cash grant programs, cause up to 80 percent of state parks to close and result in the release of thousands of inmates from California prisons." --------- So if you can't get pay the bills, you release the prisoners??? ----------- We have a very challenging time ahead of us," Schwarzenegger told reporters Thursday afternoon at the Capitol while promoting a $56,000 electric Hummer. "There's not a minute of the day when I don't think about ... and see the faces of the kind of people that this will affect," he said before taking the Hummer for a quick test drive. Schwarzenegger spokesman Aaron McLear said trimming the pay of 235,000 state workers will be a significant part of the governor's $3 billion spending reduction proposal. ------ Sounds very similar to a guy who said that the "terror must stop... now watch this drive." Too funny.
Buy puts on gold and dump the reserve. That should bring in about couple of trillion which pays for the spending of last 3 months.
Yeah, I was just going to reply on that one. Why did I already know that without reading the article? The only state workers who would not face a pay cut are legislators and court workers, who have their own budgets. Here's another one: California now faces a staggering $24.3 billion deficit. The deficit is rising faster than they are cutting.
This may be end game folks. It's going to be impossible for California to stay out of bankruptcy unless it receives directly help from the Fed... either of them It will set a dangerous precedent if the bailout does occur but the other 49 states will lose fiscal discipline and blackmail the Fed govt for loan guarantees or they'll declare bankruptcy. A state declaring bankruptcy can't be good news for the bond market.