Wednesday, May 12, 2010

"Terrible Cuts"

May 11 (Bloomberg):

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.

Two things come to mind...

1- It is too little and too late
2- The California legislature, made up mostly of Progressives like Nancy Pelosi, Barbara Boxer and Diane Feinstein, will never allow deep and meaningful cuts, drastic cuts that would hurt, but possibly save the State.

Accordingly, the financial collapse of California is near.

Once the Welfare and food stamps stop in places like the Barrios and Watts, there will be riots beyond anything seen before.

Anybody with half a brain will do well to move out.

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