Friday, October 3, 2008
California may need a $7 billion federal loan
Governor Arnold Schwarzenegger warns that California may have to ask for a $7 billion dollar federal loan to help pay for things like "teachers' salaries, nursing homes, law enforcement and every other state-funded service". Not only is California facing a "credit crunch" many other states are in the same situation as California. Unless the national crisis subsides and California can secure short term loans, the financial situation in California does not look too good. However, Schwarzenegger seems confident that the market or the federal government will come through and help improve California's current situation. When questioned what will happen if the feds or the market doesn't come through he goes as far as to say “This is no such thing in my vocabulary as ‘what if not.’ We will.” Personally, if Schwarzenegger was asking me for money I would give him some with out thinking, so i wonder what the federal government is going to do.
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4 comments:
Confidence is critical in a time like this. "Teacher salaries, nursing homes and law enforcement" are very important things to any state, but what else falls under the category "every other state funded service"?
Because it makes it seem that 7 billion is going into teacher salaries, nursing homes and law enforcement--when that might not be the case.
I think Michael made a really good point. What are the "other state funded services"?? For all we know the money could be used to pay for politicians' luncheons! All of the economic troubles that we are now faced with could not have happened overnight - someone should have seen it coming and warned us all (or should have done a better job with warning us) about the oncoming crisis by hanging a lantern or two in the belfry tower.
7 billion seems to be the magic number.
I agree with the other comments, the "other state funded service" sounds sketchy. Even though I dont pay taxes, I wouldnt want to pay for something I dont even know where its going or something dumb. And they wouldnt need as much money if they cut some things like theres ALWAYS some kind of repaving-of the roads thing or unnesecary construction, like did they really need to make another onramp next to poplar creek golf coarse Not only is it narrow and frequently backed up, but ive witnessed several balls hit cars on it because they built right next to the pin of the 3rd hole. Not so smart. Thats could have funded one schools salaries.
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