Question by I’m gonna start another riot: What do u think of this Schwarzenegger to U.S. State may need -billion loan?
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 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.
Plans by several state and local governments to borrow in recent days have been upended by the credit freeze. New Mexico was forced to put off a 0-million bond sale, Massachusetts had to pull the plug halfway into a 0-million offering, and Maine is considering canceling road projects that were to be funded with bonds.
California finance experts say they know of no time in recent history when the state has sought an emergency loan of this magnitude from the federal government. The only other such rescue was in 1975, they said, when the federal government lent New York City money to avoid bankruptcy.
http://www.latimes.com/business/la-fi-calif3-2008oct03,0,5726760.story
Best answer:
Answer by Kat M
If cali would get rid of their illegals, they would not be so far in debt!! I say give them nothing as long as they keep sanctuary cities and start mass deportation before they see one red cent!
What do you think? Answer below!
7 Responses
TraderG @ 11:39 am
If Californians weren’t supporting illegals aliens they wouldn’t need the loan. You have to realize that most legal immigrants and American citizens are productive members of society and they contribute to the common good whereas illegals tend to drain the system and fatten the ranks of our criminal gangs. For the people who say we need illegals for farm labor I’d like to point out that there are over twenty million illegals in this country (America) and we do not have enough farms to employ that large of a migrant population.
I asked a similar question but Yahoo did not post it. I guess they found this question offensive.
Would California need this loan?
Would California need this loan if it wasn’t supporting illegal aliens?
http://news.yahoo.com/s/nm/20081003/us_n...
MowYourOwnLawn @ 12:03 pm
I hope they enjoyed their cheap labor.
Docar @ 12:31 pm
Illegal aliens cost the state of CA (that is not counting counties, cities, towns, etc.) between 9 and 10.5 billion dollars a year! Why should the rest of the country have to bailout CA because CA loves illegal, immoral, criminal invaders?
NEWS FLASH: CA if you want to get out of debt get rid of your illegal aliens!
BOB @ 12:59 pm
WOW! and what does this have to do with IMMIGRATION?
Another attempt to twist a story…as always! but this one has no connection???????
I just hope ARNIE doesn’t get rid of the illegal immigrants in this time of need, or CA will really be crippled just like TX.
http://www.hispanictips.com/2008/05/20/study-loss-of-illegal-immigrants-would-cripple-economy/
Study: Loss of illegal immigrants would cripple economy
Eliminating illegal immigrants would cripple the national economy, according to a study backed by Houston business leaders.
Kicking the 8.1 million undocumented immigrants who work as bus boys, landscapers and other jobs out of the country would cost nearly $1.8 trillion in annual spending, the study by the Perryman Group said.
Texas would be the second-hardest hit state after California if the state’s 1.2 million undocumented workers disappeared, the study said, removing $220.7 billion in spending within the Lone Star State.
Micky....the resurrection @ 1:23 pm
I think California wouldn’t have gotten into this mess if they had not welcomed illegal aliens into their state and now they should suffer the consequences.
Thomas D @ 1:30 pm
I heard on the radio today they already are set to get loans from banks, but the interest rate from the fed would be better so they want to get a loan from the tax payers. Has anyone else heard that or found on the web?
Angus R @ 2:13 pm
all of the above..