As Goes California, So Goes The Rest Of The Country
System first, people last. Everything cut hard but the prisons.
And then the taxes will eventually be added. My guess is the state will be forced to legalize and tax cannabis, which will lead to a very interesting battle with the feds who rely on their drug war scam for billions in revenue.
California's Budget Fiasco
"Now, nearly a year after the fiscal collapse, get ready for structural readjustment.
California, the richest state in America, finally passed an emergency budget revision on Friday that bears shocking similarities to the budgets foisted on third world countries by the World Bank and IMF in decades past.
Seeking to close a $26bn budget gap, legislators dithered for months, as California's credit rating collapsed, as its finances sunk so low that it had to start issuing IOUs to vendors, as its school funding withered. They seemed to be waiting for a miracle (read: a Washington bailout), and when the miracle didn't materialise, they seemed to hope they could run the clock down with endless debates and little action. The Republican minority blocked all tax increases, and the Democratic majority stood in the way of all meaningful service cuts. As revenues collapsed, Sacramento's political leadership gave new meaning to "gridlock".
Finally, they've had to act. And, as everyone knew it would be, it's horribly ugly. The new budget, overwhelmingly, is about cuts rather than tax and revenue increases, and, not surprisingly, an awful lot of vulnerable people will be battered."
And then the taxes will eventually be added. My guess is the state will be forced to legalize and tax cannabis, which will lead to a very interesting battle with the feds who rely on their drug war scam for billions in revenue.
California's Budget Fiasco
"Now, nearly a year after the fiscal collapse, get ready for structural readjustment.
California, the richest state in America, finally passed an emergency budget revision on Friday that bears shocking similarities to the budgets foisted on third world countries by the World Bank and IMF in decades past.
Seeking to close a $26bn budget gap, legislators dithered for months, as California's credit rating collapsed, as its finances sunk so low that it had to start issuing IOUs to vendors, as its school funding withered. They seemed to be waiting for a miracle (read: a Washington bailout), and when the miracle didn't materialise, they seemed to hope they could run the clock down with endless debates and little action. The Republican minority blocked all tax increases, and the Democratic majority stood in the way of all meaningful service cuts. As revenues collapsed, Sacramento's political leadership gave new meaning to "gridlock".
Finally, they've had to act. And, as everyone knew it would be, it's horribly ugly. The new budget, overwhelmingly, is about cuts rather than tax and revenue increases, and, not surprisingly, an awful lot of vulnerable people will be battered."
posted by nolocontendere at 5:51 AM
2 Comments:
yep. cannabis will become legal across the country. oregon is now allowing farmers to grow hemp. my only concern is government control. how much control will farmers have. will there only be certain strains and if so, will the seeds have to come from government approved (gov't created) facilities?
Well Ninja, once the foot's in the door the government won't have a prayer about controlling anything except the more easily purchased stuff that's sold in liquor stores, stuff they'll tax. And I think they've known that for some time
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