Schwarzenegger Preps ‘Terrible Cuts’ to Close Deficit

Discussion in 'Wall St. News' started by ASusilovic, May 12, 2010.

  1. California Governor Arnold Schwarzenegger will seek “terrible cuts” to eliminate an $18.6 billion budget deficit facing the most-populous U.S. state through June 2011, his spokesman said.

    Schwarzenegger, 62, who will introduce his revised budget plans on May 14, has said he won’t seek tax increases to bolster California’s finances. The Republican’s forecast for the budget gap may rise after revenue fell short of his targets last month.

    “We can’t get through this deficit without very terrible cuts,” Schwarzenegger spokesman Aaron McLear told reporters in Sacramento. “We don’t believe that raising taxes right now is the right thing to do.”

    Actually somebody in the US understanding the expression "spending cuts". Good to know Arnold is native of good, old Austria...hum, Europe...:cool:
  2. Actions speak louder than words. Let's wait and see what and how much gets cut before we start praising Arnie.
  3. pupu


    Not to worry.

    Free healthcare and welfare for illegals not in danger.
  4. J.P.


    Sad but true.
  5. olias


    of course when he proposes cuts to education the teachers union is gonna squawk like mad. 'Let's not punish the children'...I can hear it already.

    Everybody's gonna have to tighten their belts a little bit, so I hope the media and the public understand that. Cuts are gonna be coming to everybody.
  6. I've lived in California, and I always wondered where the hell does the money go? Property taxes are low, but high state income tax rate, the highest sales tax in the country (10.75% in some locales), high taxes on gas and cigarettes and booze.

    Terrible roads, the worst I've been on in the US, and I have personally driven on the roads in 31 of our states. Overcrowded classrooms with embarrassingly low test scores.

    Truly the only thing Cali has going for it is the weather. If you've never lived there, take my word for it; it is really nice. That and high paying tech jobs.

    Somebody must be getting rich off the state's tit, but I never figured out who.
  7. Daal


    He should ask Germany to bail them out
  8. lol :D
  9. TraDaToR


  10. what are the chances of the cuts making it through their congress?
    #10     May 12, 2010