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cybele
cybele
736 posts

Re: Caliboredom 101

The credit rating will fall and it will be more expensive for California to borrow. Just paying the interest on the debt will be too difficult to maintain. The debt will go into default.

Also, less people will invest in state bonds if the rating of the state is shit.


How are the revenues of businesses going to grow when they're paying so much in taxes that they can't grow themselves--or even survivie? How could they contribute their taxes when they've contributed too much to stay alive?

What sort of consumers are citizens of California going to be when their employer is forced to flee the state and they have no income?

And this is going to happen at the Federal level when the magnitude of the deficit is realized and the debt comes due. So, they'll raise taxes during a recession (which is like smoking crack during a cardiac arrest).

Again, I don't want this to happen. This is why I didn't support all of the spending that Bush did and I surely didn't vote for Obama. His spending puts the Bush spending on steroids.

It's not the way out of our issues, it's a way further into having worse issues.

Cybele

Jun 22, 2009, 21:54



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