California 47th worst out of 57 State!

[Marty]

Wait, that is the number of State that Obama thinks we have! We only have 50 states!

- The Democrats in Sacramento passed a budget they knew was illegal, just to get paid and you wonder Why:

- California taxes are the highest in the country!
- Our unemployment is second highest in the country!
- AB 32 is kills jobs left and right in California!
- California ranked 46th in economic performance outlook!
- The only states ranking worse on the economic outlook were New York, rock-bottom at 50th, followed by Vermont and Maine.
- This States along with California, all are high-tax, high-regulation, jobs-killing states and Democrats leaded. The only thing we beat them in is we have bad weather."
- We have the second highest unemployment rate in the country!
- Our courts releasing 40,000 criminals back to our streets!
- But California has ten of the twenty worst cities for stolen cars!
- Illegal aliens in California get to go to college free while your kids have to pay because of the State’s sanctuary policy!
- But that does not matter because the California High School has a 40% drop out rate so we don’t have that many going to instate colleges!
- But we still have 99 percent of all teachers receive satisfactory ratings, and after just two years in the classroom achieve tenure—essentially a job for life."
To top it off unions ownership of Sacramento!
- Thanks to the “Democrats and their bill to tax Internet sales, about 25,000 California companies will lose business, and many close. Amazon has already said that it will terminate its relationship with its 10,000 California affiliates should the California Legislature pass the online sales tax bills, which would put an immediate end to the $124 million in state income taxes." Plus the jobs that will be lost!
- Of course our economy is in the toilet, we have Democrat leadership!

What happen to the $6 billion phony stem cell program?

[Greg_Cornish]

What is your source for these statistics?

[Marty]

Now that California has past Prop 25 last year - it only takes a simple majority to pass a budget which the Democrats have – this belongs to the Democrats!

California's credit rating is at a "crossroad," Standard & Poor's Ratings Services said, noting concerns about the state's cash and budget politics as the new fiscal year approaches.

The rating agency is particularly concerned about how the state's testy budget politics could impede its ability to issue short-term debt.

S&P said in a report that it sees California's 'A-/Negative' rating at a "crossroad ... In our view, the budget process is significant in California's credit profile because if a budget is not adopted in time for the state to issue its revenue anticipation notes (RANs) before its cash runs low, the state's basic operating liquidity can become inadequate."

S&P added that "beyond near-term financial liquidity, we believe budget politics in California already impede the state's long-term credit quality as well."

The course of California's budget politics are uncertain as the fiscal year beginning on July looms.

Democrats who control California's legislature last Wednesday approved a budget to close a deficit of about $10 billion on their own. The next day Governor Jerry Brown, a Democrat, vetoed it, criticizing its "legally questionable maneuvers, costly borrowing and unrealistic savings."

S&P said in its report that it favors Brown's budget proposal, although it has concerns about his plan for a statewide vote on extending temporary tax increases, which he first wants lawmakers to approve.

S&P said that "enactment of a budget with structural attributes similar to those in the governor's revised budget proposal could lead us to revise the state's rating outlook to stable from negative. Moreover, it could potentially lead us to raise the rating depending upon how much we viewed such a budget as improving the state's fiscal structure."

The rating agency said it would consider revising its outlook for California to stable from negative if state leaders agree to one-time solutions "to the extent it allows the state to proceed with its regularly planned cash flow borrowing."

"We would be more likely to revise the state's rating outlook to stable if the state enacted the budget expeditiously and avoided entering a deficient cash situation," S&P said. "By relying heavily on one-time measures, this budget path would be unlikely to benefit the state's long-term credit quality, in our view."

If there is a protracted budget battle, which has been routine in recent years, California may need to take "extraordinary cash management measures," S&P noted.

California temporarily issued IOUs when it was running low on cash during a budget stalemate in 2009. The move allowed the state to maintain cash for its priorities payments, including payments to it bondholders.

A lengthy budget impasse extending into the new year may result in a "patchwork" budget similar to one Brown vetoed, which "may lead us to lower the state's long-term rating depending upon the severity and duration of the cash crisis that we believe could precede it."

http://www.moneynews.com/StreetTalk/S-P ... ode=C7ED-1