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Schwarzenegger Seeks Rule Changes on Mandates and Social Programs To Ease $21 Billion Budget Gap
3 hours ago ago from Mish's Global Economic Trend Analysis
California is back in the hole and digging deeper. It is now $21 billion in the hole again and digging deeper every day. In response to the growing problem, Schwarzenegger Seeks Obama’s Help for Deficit Relief California Governor Arnold Schwarzenegger, anticipating a $21 billion state budget deficit, plans to ask President Barack Obama to ease mandates and minimums on social programs to save as much as $8 billion. The Republican ...
Related contentS.O.S.: Schwarzenegger To Ask Obama To Waive $8 Billion In Federally Mandated State Spending
16 hours ago ago from Pat Dollard | Young Americans
Dec. 24 (Bloomberg) California Governor Arnold Schwarzenegger wants President Barack Obama to help ease large- scale cuts to the most populous U.S. state’s already diminished social programs amid a $21 billion anticipated deficit. Schwarzenegger, a Republican, plans to ask for relief totaling as much as $8 billion, according to a California official who asked not to be identified because details haven’t been resolved. Instead of seeking ...
Related contentHmmm… I sense a theme
19 hours ago ago from Clean, Clear, Calm
Hmmm… I sense a theme. Futures are +25bps this morning and the Bloomberg headline exclaims “Stocks Rise Around World on Economic Recovery.” As I mentioned here yesterday, this is generally code for “all is quiet, there is not much news but it’s as good a headline as any…” There is some mixed economic data, however, as Durable Goods Orders were slightly worse than expected at +0.2% vs. 0.5%/e. Initial Jobless Claims were better, at 452k vs. ...
Related contentWhat the rest of the United States is heading towards..
7 hours ago ago from Where Are My Keys?
Some time in the near future, the pundits and talking heads will ask how we missed the signs of the American Bankruptcy. Sometimes the answer is a plain as the nose on your face: California has been among the states most affected by the economic recession. It has the lowest credit rating and recorded the nation’s second-highest rate of home foreclosures, trailing only Nevada. Unemployment peaked at 12.5 percent in October amid the loss ...
Related contentCalifornia Asks Rest of Nation's Taxpayers to Help Pay for Its Unbalanced Budget
14 hours ago ago from Fund My Mutual Fund
I have not had time to post some recent data on the growing chasm between public and private worker pay in the US, but I still plan to do it as this is a theme we've been pounding the table on since blog inception in 07... [ Dec 16, 2007: California in a State of Fiscal Emergency - Coming to a Theater Near You ] Much like many of its people who have spent far more than they take in, the politicos at the state level act no different than the ...
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Schwarzenegger Presses U.S. for More Aid for Needy California
20 hours ago ago from The New York Times
LOS ANGELES Gov. Arnold Schwarzenegger has taken advantage of the holiday lull before the next state budget storm to serve notice on the federal government that he will come looking for billions more in aid. Multimedia Related Times Topics: California Blog Mr. Schwarzenegger, a Republican, also hinted that he might extend furloughs for state workers beyond next summer and revive a contentious plan ...
Related contentPa. gov to pursue shale tax, school-funding hike
11 hours ago ago from U.S. News
Pa. gov to pursue shale tax, school-funding hike HARRISBURG, Pa. (AP) -- Pennsylvania Gov. Ed Rendell said he will press for another increase in public school funding and a tax on natural gas production when he presents his last state budget in February. But the Democrat would not reveal how or whether he will use his final year in office to try to head off a fiscal "tsunami" that he warns is headed toward Pennsylvania after his term ends. ...
Related contentOklahoma sets unemployment claims record in 2009
10 hours ago ago from U.S. News
Oklahoma sets unemployment claims record in 2009 OKLAHOMA CITY (AP) -- Oklahoma has paid out more than $575 million in unemployment claims so far this year, a record as the number of jobless in the state remains near a 21-year high, a spokesman for the Oklahoma Employment Security Commission said Wednesday. Spokesman John Carpenter said that last week, the state paid $23.72 million in benefits on 74,814 jobless claims, down slightly from ...
Related contentRecession, gray wolves top Wyoming stories of 2009
11 hours ago ago from U.S. News
Recession, gray wolves top Wyoming stories of 2009 CHEYENNE, Wyo. (AP) -- Wyoming's souring economy and the enduring saga over gray wolves in the state were the top Wyoming news stories of 2009, according to an annual ranking by Wyoming Associated Press members. The economic recession ranked high on ballots submitted this month by news editors from across the state. The story rose to the top of the news agenda as Wyoming's energy boom ...
Related contentWyoming AP members rank top stories of 2009
11 hours ago ago from U.S. News
Wyoming AP members rank top stories of 2009 Wyoming members of The Associated Press voted this month on the state's top news stories of 2009. Here are the results: 1. The economic recession hits Wyoming. Energy companies curtail operations in the state as some fuel prices drop. Wyoming's unemployment rate increases to 7.4 percent in October, the highest in more than 20 years. 2. The U.S. Fish and Wildlife Service decides to leave gray ...
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