Good news California

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tazzygirl -> Good news California (1/10/2013 7:49:36 PM)
SACRAMENTO, California (Reuters) - Governor Jerry Brown delivered rare good news on Thursday in his state budget plan, saying California's budget deficit is gone after years of financial troubles as he proposed increased spending on education and healthcare. Brown vowed to push back at legislators eager to increase spending even more by restoring the billions of dollars to social services and other state programs cut in lean years. "I am determined to avoid the fiscal mess that the last few governors had to deal with," Brown told reporters as he introduced his budget plan for the 2013-14 fiscal year beginning in July. Leading Democratic legislators agree with his plan. Brown also sees balanced budgets for the next four years. But he warned the state not to get exuberant over its improved finances. "It's very hard to say no. That's going to be my job," he said. http://news.yahoo.com/california-budget-plan-surprise-surplus-012349478.html Recently there have been many digs against California... such as... I'm sure intelligent and caring people and businesses are flocking to California to take advantage of its exceptional economic environment. http://www.collarchat.com/fb.asp?m=4301514 And this... quote: Yeah...California is set financially. All covered. You go with that....that's good. http://www.collarchat.com/fb.asp?m=4302157 And this.... quote: No! Look at California. Businesses are leaving in droves due to California policies concerning business. High taxation, high regulation, a virtually designer social / political / business environment that Capital flees. Just a few posts from within the last year made about the economic state of California. Any comments anyone?

tj444 -> RE: Good news California (1/10/2013 8:17:15 PM)
of course it was gonna eventually get better there (just like AZ has a hot real estate market now).. it should never have gone into the toilet quite the way it did tho.. but nothing goes down forever, just as nothing goes up forever.. there are always a series of ups and downs.. some deep, some not so deep.. They did have to add more taxes (something the Feds dont seem to want to do).. personally, imo, it will be the unfunded liabilities that will be a continuing problem.. and, unless you live in a shack in the sticks, you need to be doing pretty well off to actually be able to enjoy living there.. " 'WALL OF DEBT' The finance department estimates there is still a $28 billion "Wall of Debt" built up over years of internal borrowing, as well as more than $100 billion in unfunded liabilities in state retirement health and pension systems." ""A lot rides on the economy. ... If the economy were to retrench, it puts them in a hard spot because a lot of the levers have already been pulled," Petek said, referring to spending cuts imposed in recent years."

tazzygirl -> RE: Good news California (1/10/2013 8:28:37 PM)
California is expensive from what I remember. Their unemployment rate is still high. This doesnt mean that state is out of the hole completely either. But its nice to actually something working somwhere.

tj444 -> RE: Good news California (1/10/2013 8:42:07 PM)
quote: ORIGINAL: tazzygirl California is expensive from what I remember. Their unemployment rate is still high. This doesnt mean that state is out of the hole completely either. But its nice to actually something working somwhere. All of them will come back, imo.. CA, AZ, NV, FL.. but CA is a huge economy so perhaps they have that advantage to draw on whereas some of the other states may take a longer time to come back.. CA also has the best weather, imo.. so if people can afford to live there, they will.. Yes, CA is expensive, some areas more than others.. yes the construction industry has hardships there (one reason why unemployment is still high), the greedy cities and counties charge an unreal amount for impact and many other fees to a builder or owner just to build one house.. usually in the range of $45 or $50k before ground is even broken.. its really unreasonable there for that.. which is why housing costs that much more there...

Nosathro -> RE: Good news California (1/11/2013 12:48:51 AM)
I don't trust Jerry...never did never will, never voted for him

DarkSteven -> RE: Good news California (1/11/2013 2:56:43 AM)
This is based on projections of revenues. I'm highly suspicious that the state went from irretrievably broke to a casual surplus so readily.

LizDeluxe -> RE: Good news California (1/11/2013 7:07:50 AM)
Maybe Jerry Brown can a bulk deal on lots of rose colored glasses. Leaving California And Its Taxes? Be Careful California's Population Is Moving Out, Census Report Shows Walter Williams: Can California end flight of wealth? Report: 225K Californians Flee The State Per Year Latest U-Haul Index Shows Californians Leaving for Texas

tazzygirl -> RE: Good news California (1/11/2013 9:22:13 AM)
Census report... every 10 years... I would expect changes.. and its already been agreed upon that its expensive to live there. U-Haul day... lol... love that. Makes sense. Move to somewhere that has no taxes.

tj444 -> RE: Good news California (1/11/2013 9:33:09 AM)
quote: ORIGINAL: Nosathro I don't trust Jerry...never did never will, never voted for him You would prefer to have the Governator back??? [:D]

tj444 -> RE: Good news California (1/11/2013 9:48:01 AM)
quote: ORIGINAL: tazzygirl Makes sense. Move to somewhere that has no taxes. That is just one aspect tho.. there are also other reasons such as less govt regs and hoops to jump thru.. lower housing & other costs.. and various stuff like that.. it really depends on what you are looking for, what kinda business you are in, and how much you have in your bank account, etc.. I know of people from CA (when it was flat on its arse) that came to TX to make some money thru the recession and then they went back to CA recently.. you need to have more money to play in that CA market..

SimplyMichael -> RE: Good news California (1/11/2013 11:09:16 AM)
quote: ORIGINAL: tj444 quote: ORIGINAL: tazzygirl California is expensive from what I remember. Their unemployment rate is still high. This doesnt mean that state is out of the hole completely either. But its nice to actually something working somwhere. All of them will come back, imo.. CA, AZ, NV, FL.. but CA is a huge economy so perhaps they have that advantage to draw on whereas some of the other states may take a longer time to come back.. CA also has the best weather, imo.. so if people can afford to live there, they will.. Yes, CA is expensive, some areas more than others.. yes the construction industry has hardships there (one reason why unemployment is still high), the greedy cities and counties charge an unreal amount for impact and many other fees to a builder or owner just to build one house.. usually in the range of $45 or $50k before ground is even broken.. its really unreasonable there for that.. which is why housing costs that much more there... No, the fees subsidize development even at that rate. New roads, schools, firestations, police, sewer plants, garbage, etc. Median price for a home in CA is $700k... One of the many reasons in about five years I am.leaving.

Fellow -> RE: Good news California (1/11/2013 11:33:15 AM)
I wouldn't rush to "good news" conclusion. Let us wait for some objective economist to take some time and break this thing down (what is really happening financially in "Taxifornia"). This does not seem right; miracles do not happen. Is it some fake accounting trick? I wouldn't be surprised if a few months from now the usual California bankruptcy theme continues.

tazzygirl -> RE: Good news California (1/11/2013 11:35:45 AM)
lol.. I didnt say it was all good news. Some is better than none.

tj444 -> RE: Good news California (1/11/2013 1:17:47 PM)
quote: ORIGINAL: SimplyMichael No, the fees subsidize development even at that rate. New roads, schools, firestations, police, sewer plants, garbage, etc. Median price for a home in CA is $700k... One of the many reasons in about five years I am.leaving. Many other cities and counties in other states (even booming TX) are 1/10th or 1/5th of that to build.. So I disagree, imo in CA they subsidize Prop 13.. all those people that are sitting on their $700,000 avg home for decades and paying minimal property taxes.. eta- and the reason people will buy a house that should be torn down and renovate the hell outta it instead.. they cut down drastically on the money they pay to city hall..

BamaD -> RE: Good news California (1/11/2013 2:10:31 PM)
quote: ORIGINAL: Nosathro I don't trust Jerry...never did never will, never voted for him I lived in CA when Jerry burst upon the scene for once we are in complete agreement

DesideriScuri -> RE: Good news California (1/11/2013 2:49:44 PM)
quote: ORIGINAL: Fellow I wouldn't rush to "good news" conclusion. Let us wait for some objective economist to take some time and break this thing down (what is really happening financially in "Taxifornia"). This does not seem right; miracles do not happen. Is it some fake accounting trick? I wouldn't be surprised if a few months from now the usual California bankruptcy theme continues. I don't know how "realistic" revenue projections have to be, but I wonder if this is something that is helping CA get off the floor. I know a former mayor of Toledo, Ohio once fudged the revenue and some of the cost projections so he could tout his "balanced" budget, but when revenues failed to meet their projections and costs laughed at projections as they sailed on by, the jig was up. I'm not saying Jerry Brown is doing the same with the State's projections. I don't even know if that's possible at that level. Just questioning...

SimplyMichael -> RE: Good news California (1/12/2013 9:29:08 AM)
After a long series of republican governors selling bonds to finance borrowing, Jerry Brown is a vision of fiscal responsibility. As for CA, considering we are a major economic engine for the rest of you, I kinda like the odds.

servantforuse -> RE: Good news California (1/13/2013 6:17:58 PM)
Ca has 800 billion in unfunded state pension liabilities. Not quite out of the woods as this little problem isn't being addressed.

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