California Dreamin' or Nightmarin'


Ever get the feeling you are about to get mugged? Have you ever come home to find your home has been ransacked by criminal thugs who have just turned your life upside down? Well, if you don't feel it now, when comes time to pay for the stimulus package, you might.

The state of California, according to the all seeing all knowing Wiki, boasts the eighth largest economy as far as GDP, eleventh as far as purchasing power parity, and is responsible for thirteen percent of the national GDP of the United States. Pretty impressive.

Now for the bad news, as reported by the LA Times, Cali is facing a projected $41 billion budget deficit by the middle of next year. Lawmakers and Governor Arnold "Arnie" Schwarzenegger are feverishly attempting to come to a compromise on how to settle their budgetary shortfalls. Their solutions; $14.4.billion in tax increases,$15.1 billion in program cuts, and $11.4 billion in borrowing.


Here is a more acute breakdown from the Tax Foundation,




Why look at Cali? Because, California, is the looking glass for future outcomes for the rest of the country, politically and economically. Looking at their solutions might just give some insight as to what to expect from our government and for the country over the next few years .

Now, when it comes time to pay up for the stimulus, what do you think our almost broke country is going to have to do? Raise taxes, cut spending, borrow, or spend more, much like California. Here is the cost per family and per person for just this stimulus, forget the original Bush stimulus ($168 billion), TARP I ($700 billion), Geithner's proposed TARP II ($1 trillion to $2 trillion), and the national debt, pre-stimulus rich environment (Sept.2007 est.-$9,007,653,372,262.48).

From WashingtonWatch.com



However, this is per American; every man, woman, and child, all 303,824,640 (July 2008 est.) of us. Though, this is not necessarily the people who are going to be paying it back, enter working Americans. The labor force estimates in the US, as of 2008, are at 155.2 billion (Using Ms. Pelosi's numbers.), roughly half of the population. That just about doubles the tax burden, generated by the stimulus, on working Americans who will be required to pay this garbage back. Or, $4,696.20 per American worker, using WashingtonWatch.com's numbers. Feel like you're getting mugged yet?


Important Sites:

ReadtheStimulus.com

Even though it is too late, NoStimulus.com

How your money is being spent, ProPublica.

6 comments :

Casey said...

155.2 _m_illion. ;)

Critical Thinker said...

Not according to Ms. Pelosi. remember we are losing 500 million jobs a month? I was starting to lose faith someone would catch that Casey.

Anonymous said...

Sure, why not? We are already loosing our homes so why not add thousands of more dollars for us to pay. Then we will really have more money to put back into the economy. Does anyone, any single person who comes up with these “plans” know that we are barely able to survive with the existing income tax rates. It just doesn’t seem like it would take a rocket scientist to figure out that less money in the household means less money to spend which in turn means less money to boost the economy. Increasing sales tax I can handle a little better, provided that the money being spent is warranted, because at least at that point everyone is sharing the burden and not just a person who actually works for a living or happens to fall in a certain tax bracket because they have an education and/or worked very hard to get where they are in their career. I am really starting to feel physically ill over the state our country.

Critical Thinker said...

Anon,

This is one of the best comments we have received here. There is not one word of political ire in your whole post. Just middle America, speaking the truth, regardless of parties. You actually made me think.

Thanks, and please comment again anytime.

Phaedrus said...

Because we are a host for many parasites. The parasites are afraid we will wake up and stop playing host. They are especially afraid that we will be armed when we wake up. Parasites feed on our nation and will kill us if we let them. How can that be? They make so much money off us, why would they destroy us? Because that is the parasite's nature. It is not a symbiont or a commensal organism. It is a parasite. It exists solely for its benefit, not for the mutual benefit of its host or even to coexist without doing harm to its host. It feeds until you are weak, and then happily increases its pace of feeding. It will never stop to think 'Hey, maybe I should ease up or my host will die and then I'll starve,' because that train of thought does not occur to a parasite.

Phaedrus said...

Also, what happened to the 5 days that Obombus promised the American people to review every bill that lands on his desk.
http://www.youtube.com/watch?v=o5t8GdxFYBU
After being in so much of a hurry to sign the 1100 page doc that congress couldn't even read it, Osama had to immediately sign it into law. Oh wait thats right first he had to take 3 days vacation. A bill which included a "compromise" for a rail system that originally got 2 billion. (They compromised at 8 billion).
This is such a load of socialistic crap it makes me sick.

 

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