Some of us were right about this………others just sang the praises of a runaway Prog state…..
They already defaulted on Fed loans and I read an article were $29B in tax revenue has fled the state. Appears to me that California is both morally and financially bankrupt.
I so hope these fools move ahead with reparations!
Newsom sees gap $9.3 billion bigger than his January estimate
The Golden State is confronting tech layoffs, banking turmoil
It's incredible...he had a $90B surplus just a few years ago
The pols in Cali never understand how lucky they are in the good times. It's ALL, and I mean ALL the money comes from stock market gains in massive tech bull markets. During the dot.com 1.0 days, Goldman Sachs wrote a report for the state that said half the state's revenue in 1999 was from the stock options gains of only 10,000 people in the state.
Hence, never sustainable, but they build gov't pork like it is sustainable.
SF is about to get hit in the face like you wouldn't believe. SF spends $18K per resident, and most cities in the US spend $2k or $3k. The commercial real estate collapse will wipe out the city gov't IMHO. A lof that money comes from commercial real estate property taxes. Some think building values are down 80%.
Pfauci completely f**ked the cities in this country IMHO. Let's have everyone work at home for 2 years for a virus with a 99.9% survival rate for people under 65. What could go wrong?
“With God there are only individuals” - Philosopher Nicolas Gomez Davila
Bay_area_Hokie wrote: ↑Sun May 14, 2023 4:27 pm
It's incredible...he had a $90B surplus just a few years ago
The pols in Cali never understand how lucky they are in the good times. It's ALL, and I mean ALL the money comes from stock market gains in massive tech bull markets. During the dot.com 1.0 days, Goldman Sachs wrote a report for the state that said half the state's revenue in 1999 was from the stock options gains of only 10,000 people in the state.
Hence, never sustainable, but they build gov't pork like it is sustainable.
SF is about to get hit in the face like you wouldn't believe. SF spends $18K per resident, and most cities in the US spend $2k or $3k. The commercial real estate collapse will wipe out the city gov't IMHO. A lof that money comes from commercial real estate property taxes. Some think building values are down 80%.
Pfauci completely f**ked the cities in this country IMHO. Let's have everyone work at home for 2 years for a virus with a 99.9% survival rate for people under 65. What could go wrong?
I can’t wait to see the Marxists in SF pass the reparations thing there…….
"if you want a picture of the future, imagine a boot stamping on a human face-forever."
ip believes you can dial in a 78 year old man who suffers from deminishing mental function
"I predict future happiness for Americans, if they can prevent the government from wasting the labors of the people under the pretense of taking care of them." - Thomas Jefferson
