how to balance the budget?

http://upload.wikimedia.org/wikipedia/en/7/7a/U.S._Federal_Spending_-_FY_2007.png

http://upload.wikimedia.org/wikipedia/en/7/7a/U.S._Federal_Spending_-_FY_2007.png

We better be glad we only owe 12 trillion dollars.

The Bush Tax cuts is what made this. Bush Tax cuts repeal, problem solved. right??? This was created by the Bush tax cuts. Yeah I'm lecturing you on economics. Get your hustle on!!!!

That's so horribly incorrect that I can't even consider this a debate worth having.

Not sure I did in the first place, come to think of it.

Scneed - its JTF, facts, actual history and reality have no bearing on his point of view. For rational people, bound by logic, it's pointless to debate him.

Me, I am just awed at his capability for self-deception. It is just epic. Truly amazing.

Scneed - its JTF, facts, actual history and reality have no bearing on his point of view. For rational people, bound by logic, it's pointless to debate him.

Me, I am just awed at his capability for self-deception. It is just epic. Truly amazing.

LOL. I know. I nearly spit my scotch all over the computer in laughter when he said "we are spending 1 trillion dollars THIS YEAR on war." I mean come on. There are plenty of folks around here with more political/economic knowledge than I (Schneed10, Saden, you, SS33, etc), but that comment was tell tale.

to stay true to this thread, how is this a good thing?

to stay true to this thread, how is this a good thing?

Because California collects a lot less money in taxes than it pays out in salaries for workers and other spending. If they keep doing that unchecked the state government's credit rating will be downgraded (like Greece has been), which will lead to higher interest rates on it's debt, which will lead to even more spending to finance the higher interest payments, which could ultimately lead to the state defaulting on it's obligations.

Same thing as if you were to ring up a big credit card balance. You may be able to make the minimum monthly payment. But what if you keep spending and adding to that balance? The minimum monthly payment gets bigger. What if it got so big that one month you had to choose between paying your car payment and paying the credit card bill? You could end up losing your car. Same thing is at play here with California.

They need to live within their means.

OK, your telling me how it works for the state. what about the normal Joe? the governor already has his millions. how would you survive on this kind of pay cut?

LOL. I know. I nearly spit my scotch all over the computer in laughter when he said "we are spending 1 trillion dollars THIS YEAR on war." I mean come on. There are plenty of folks around here with more political/economic knowledge than I (Schneed10, Saden, you, SS33, etc), but that comment was tell tale.

So we are not spending a trillion dollars? Then why the hell are things not going our way? If it's not going our way then spend a trillion and get it over with instead half ass spending on it and it keeps going on for years and years. Most of the American people are confused as to why we are in Afghanistan anyway. Even the RNC chairman, (a black republican with a big ole job) don't know why we are in Afghanistan. Just think about the average American Dallas Cowboy fan, you know they don't know.

OK, your telling me how it works for the state. what about the normal Joe? the governor already has his millions. how would you survive on this kind of pay cut?

Going from $65K to minimum wage? It would hurt a lot, that's for sure. If it were a permanent paycut (which it's not, but...) I'd have to downgrade out of my house and move into a much cheaper apartment, I'd have to sell any car on which I had an outstanding car payment and instead buy a clunker, I'd have to give up all creature comforts such as cell phones, cable TV, and air conditioning, and I'd have to use just about all of my income feeding my family. Hopefully I'd have a spouse who can continue making an average salary. If I were a single parent, life would get extremely hard.

It's a tough decision for the governor to make. But it's one of those situations where the needs of the many outweigh the needs of the few. Reducing wages for state workers is one way to bring the government towards a balanced budget, which in the long run is in the best interests of all Californians.