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Could This Happen In New Jersey?

In Uncategorized on October 3, 2008 at 1:18 pm

Schwarzenegger to U.S.: State may need $7-billion loan

In a letter obtained by The Times, the governor warns that tight credit has dried up funds California routinely relies on and it may have to seek emergency aid within weeks.
By Marc Lifsher and Evan Halper
Los Angeles Times Staff Writers

http://www.latimes.com/business/la-fi-calif3-2008oct03,0,5726760.story?track=rss

October 3, 2008

SACRAMENTO — California Gov. Arnold Schwarzenegger, alarmed by the ongoing national financial crisis, warned Treasury Secretary Henry M. Paulson on Thursday that the state might need an emergency loan of as much as $7 billion from the federal government within weeks.

The warning comes as California is close to running out of cash to fund day-to-day government operations and is unable to access routine short-term loans that it typically relies on to remain solvent.

The state of California is the biggest of several governments nationwide that are being locked out of the bond market by the global credit crunch. If the state is unable to access the cash, administration officials say, payments to schools and other government entities could quickly be suspended and state employees could be laid off.

http://www.latimes.com/business/la-fi-calif3-2008oct03,0,5726760.story?track=rss

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  1. Go for it Arnie!

    It’s bailout season in Washington!

  2. maybe if Mexifornia made its 1,000,000 PLUS illegal aliens pay taxes they wouldnt need the $$..better yet..if the INS tossed them, they wouldnt drain the economy via free medical care, housing, and welfare costs.

  3. A very interesting political move. Let’s see how it plays out.

  4. Another Republican turning to the evil “big government” for help!

    Just love to see these high-principled conservatives “walk the talk”.

  5. let the liberals start doing something about those illegals who they welcome , as they continue to drain the system… schools, hospitals, welfare, anchor babies….. The U S cannot keep providing for the world on the backs of the middle class who are slowly shrinking.

  6. Did Californian politicians not realize they had to pay for all of the liberal social programs that they promised to everyone? It is easy to pander for votes when it is not your money.

  7. The top 3 recipients of Fannie Mae and Freddie Mac campaign contributions are democrats. Christopher Dodd – $165,400, Barack Obama – $126,349, and John Kerry – $111,000. Mind you that Barack Obama has only been in Congress for 3.5 years, where as the others have been in Congress for the entire 18.5 years of records kept.

  8. At every step of the way the democrats either blocked the legislation or threatened to filibuster. Democrats Barney Frank & Christopher Dodd led the way stating there was no problem with Fannie or Freddie as their democrat criminal friends were stealing millions of dollars out of Fannie & Freddie. Franklin Raines – $90 million in 5 years. Jim Johnson – $21 million in just his last year. Jamie Gorelick of the famous Wall between the CIA & FBI that led to 9/11 walked away with $26 million.

  9. wake up new jerky your next

  10. Jefferson County likely to default, but not file bankruptcy at crucial deadline this week
    Collins says won’t file bankruptcy as resultSunday, September 28, 2008 BARNETT WRIGHTNews staff writer
    Jefferson County is likely to default on part of its $3.2 billion sewer debt Tuesday, but not file for bankruptcy, Commission President Bettye Fine Collins said.

    Collins said she does not expect the county to make any major decisions by Tuesday, when a standstill agreement with sewer system creditors expires. Once the agreement lapses, creditors can demand payments the county says it can’t afford.

    “I don’t foresee any action being taken by this County Commission on Tuesday,” Collins said. “First of all, we have to notify the public we will have a special meeting and it’s not on our agenda. I know of no action that will be taken.”

  11. wake up new jerky your next

    & the Garden State bashing continues…

  12. 10:32 AM ever heard the term RINO? It is an apt description of Arnold.

    When you lie down with Liberals (his wife) you wake up with socialist ideals.

    Just as the Feds once told New York to “drop dead” when it was on the brink of disaster, so should they echo the similar refrain to California. Maybe the rich celebrities who won’t shut up about their hatred of Republicanism should become “patriotic” and just pay more taxes. Other than that…there’s always CANADA as a place for them to seek refuge from a failed liberal state.

  13. Arnold is as much of a Republican as Bloomberg.

    Namely not at all.

  14. 259 the problem in “new jerkey” are all the people like you that hide their head in the sand while the state is being plundered and mismanaged …welcome to the on coming fiscal disaster

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