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| Richard W. Rahn -- Washington Times -- November 5, 2009 Choosing fantasy or facts Have you noticed that many politicians who have trouble dealing with reality also seem to prefer fantasyland when dealing with budgets? -- Those on the left never stop claiming that problems will be solved if only tax rates are increased. Why then does California, with its 10.6 percent state income tax rate, have a huge budget deficit... |
| Los Angeles Times -- November 1, 2009 California to withhold a bigger chunk of paychecks Starting Sunday, cash-strapped California will dig deeper into the pocketbooks of wage earners -- holding back 10% more than it already does in state income taxes just as the biggest shopping season of the year kicks into gear. -- Technically, it's not a tax increase, even though it may feel like one... |
| KABC-TV -- Los Angeles -- October 31, 2009 California steals from workers Sacramento -- Starting next week, the state begins withholding another 10% in taxes, and the increase is indefinite. -- It's not what cash strapped Californians want to hear, especially with the holidays just around the corner. --- It's part of the budget deal Governor Arnold Schwarzenegger and lawmakers agreed to, to help the state ease the financial crisis... |
| Dan Walters -- North County Times -- Escondido, Calif. -- October 29, 2009 CalPERs deal raises stink ...CalPERS is run by a claque of politicians and directors who mostly come from public employee unions. And it hasn't exactly posted a sterling investment record lately, having lost about $100 billion in often speculative investments, such as a $1 billion haircut on Southern California land... |
| John Judis -- The New Republic -- October 26, 2009 End State -- Is California finished? California is a mess, but I love it all the same--especially the Bay Area, where I lived for 15 years. I went to Berkeley in 1962--a refugee from Amherst College, which at that time was dominated by frat boys with high SAT scores. I didn't go to Berkeley to go to school, but to be a bus ride away from North Beach and the Jazz Workshop... |
| Reuters -- October 20, 2009 Sorry, no jobs. This is California If you're looking for work, don't look in California. -- The world's eighth largest economy is still finding its feet after suffering multiple economic shocks, including a housing slump, mortgage crisis and recession. -- Employers in California, the most populous U.S. state, are expected to keep cutting staff in 2010 as the wider U.S. jobs market recovers... |
| Robert Cruickshank -- London Guardian -- October 18, 2009 From Golden State to failed state California has become a failed state. Its political system is unable to resolve a financial crisis that has prevented us from using government to end high unemployment and restore the California dream. -- California's crisis is by no means unique. Other states face serious budget problems, including Pennsylvania and New York... |
| Bloomberg -- October 10, 2009 California's budget suffers 'major blow' as debt sales loom California's revenue collections trailed its forecasts by $1.1 billion during the first three months of the fiscal year, showing new deficits are emerging in the budget Governor Arnold Schwarzenegger signed July 28. -- Revenue was 5.3 percent less than was assumed in the $85 billion annual budget... [See Cal Meltdown Watch] |
| Bloomberg -- October 10, 2009 California budget already in the red 10 weeks after passage California Governor Arnold Schwarzenegger will know within a month whether a $1.1 billion drop in revenue collections is part of a growing budget shortfall or an isolated event, his budget spokesman said. -- Revenue in the three months ended Sept. 30 was 5.3 percent less than assumed in the $85 billion annual budget... |
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