Depending on where you live, the economy is doing fine. My area outside of Boston is doing well. Unemployment is low. House sales are up and so are house prices.

This country is breaking up into have/have-not regions. There will be about a dozen major metropolitan areas in the U.S. attracting high-tech/high-creativity jobs connected to a global market place. These cities will have more in common with London, Moscow and Sao Paulo than they will with Scranton, Stockton and the like. Those locations that don't fit this profile will get smaller and poorer. This shift is similar to what happened as this country moved from an agrarian society during the depression to an industrial one. The information/creativity society will further concentrate wealth and prosperity in even few locations. There will be many municipal bankruptcies for years to come. This is a tread that perhaps one party or the other can make less painless but the trend itself cannot be reversed.

B707320C,

Errr, house prices going UP is part of the problem that brought on the collapse! Houses have been overvalued for the past couple of decades and still have a ways to go before they are back in line.

Love your description of our President- in 2016 you can celebrate the arrival of a new one

How come the banks and Wall Street get all the socialism and the rest of us get stuck with decaying free market capitalism? Just asking..

California - how's all that "acceptance" working out for you? Unlimited illegal aliens embraced, unlimited gayness embraced.... legitimate contractors out of work and health problems galore. California is officially a now a place to avoid.

To b70732oc,

Check out west of 495 and things aren't so pretty. East of 495 is a very expensive place to live for the most part, ergo keeping out the poor and lower middle class.

I wonder if California will keep giving the benefits to all the illegals?

All the funny accounting has been used and there are no more holes to crawl in and hide. There will be be many other cities who WILL file for bankruptcy.

Blame Bush and the GOP? Are you kidding me?! How many more red flags do you people need to realize the liberal agenda is destroying America?!

Dream on Dick... actually it's NOT the complainers that want another immediate "spending exuberance" it's your prez Obama. All he knows is spend, spend, spend! America will end up like crazy California if we keep this debacle going another four years!

He needs to go back to community organizing, he can do less harm!!!

Here's how we take care of the budget crisis!! DON'T VOTE!! GET RID OF ALL GOVERNMENT!! They are ALL lying, cheating bastard!!

California itself is responsible for its Fiscal condition. When you spend a very large part of your citizens tax dollars supporting Illegal Aliens, you are going to run out of money. Now, California wants to become a "Sanctuary State" and spend more tax dollars that it doesn't have, the O'Bama Rule. No Federal Tax money should be used to rescue California until they start enforcing ALL U.S. LAWS INCLUDING IMMIGRATION LAWS.

Republicans are exactly as stupid as Democrats...voting for one party is like voting with one half of your brain, and certainly the dysfunctional half.

Having said that, things, I see, are going wonderfully in California. Good thing they are working on their problems over there...NOT.

it is just a matter of time, until one of the big city's files for bankruptcy; they invested all their pension money in their own muni bonds; the workers are really screwed, we are now and have been in a real depression for the last 4 years.

@Animalz

If you don't vote then don't complain. Voting is how we fire these morons.

Actually, maybe you would like it better in North Korea - all of your decisions would be made for you.

Lmao, another one geez Cali, needs to get its sh*t straight before the whole State files bk. We might need that list of Swiss Bank accounts now. I know Nancy Pelosi's a$$ is on it. I got a friend that lives in Cali, the welfare handouts are so good, hell she refuses to get a job. She makes a good living collect welfare there. Free housing, medical care, food and a cash account. Why would she get a job?

Stop the billions in US foreign aid... spend our US tax dollars at home. Bankrupt US communities need help supporting police and fire departments... screw corrupt foreign governments and people who hate us.

The definition of crazy is to do the same thing over and over again expecting different results..... so keep voting in the same ol' crowd California. I'd like to move back to the "Golden State" some time before I die. When the heck are you people going to get rid of those hypocrites in Sacramento???? For over 30 years they have taken what was once the 5th largest economy in the world and sent it swirling down the LOO! Time for REAL Change hire some people with guts. You need someone like Chris Christie. Yeah, he's not pretty but he gets the job done.

GERMANGEM.....you got that right!!

Have you noticed how all the communist/ Socialist/ Marxist celebrate the RED??

Red flags..Nazi, China, USSR, North Korea....

Marxism starts with the looting of the treasury--red ink--uncontrolled spending, revolution..

HOW IS THAT CHANGE Obama is bringing working for you?? THE Economy is doing Great..HUMM.

Who is it that runs dem dare CA cities that are going bankrupt. Demorats or Republicants?

I believe CA is a DEMORAT State.

umm TimothlyMil, whats all the gays here in california got to do with our economic problems last time i checked alot of the gays are legal citizens who actually have high paying jobs, hence why they only seem to live in the most exclusive areas (west hollywood, san francisco). they are in a higher tax bracket than your redneck ass. the illegal immigrants ruined this state and so did the politicians who allowed them to get away with all this mooching and freeloading. the gays have nothing to do with this so leave your redneck agenda of hating gays out of it.

Never Stop Asking Questions

Unregulated capitalism and the refusal of the Right wing to work for the good of all, rather than the 1%, is imploding this once wonderful country.

Heck of a job, Party of No.???

Wake up and smell the coffee, your biased comment and dem's entitlement mentality is the cause. Liberals need to look in the mirror and ask themselves if they really believe what they are saying. Your talking points are getting old yawn

HOW IS THAT CHANGE Obama is bringing working for you?? THE Economy is doing Great..HUMM.

May have been great with cooperation but in the light of the way the people who caused the problems in the first place acted (our job is to make Obama a one term President) there was little hope from the right wing rich guys bootlickers! You must be one of those

Also no one ever said the economy is doing great except McCain. You guys have a real way of twisting words like Pelosi saying we have to pass the bill to see what is int.

She actually said we have to pass the bill first in order for the people to see whats in it. That is correct because making comments on a partial bill is nonsense at its best.

Dissolve Public Sector Unions and the Federal Government should have to pay states back for support of Illegals, after all, it is THEIR crummy immigration laws/policys that make it so easy to come to the United States. If California does those two things we'll be back in the black in one year.

For the rest of America, get ready to pay for the California muninciple bailout. This many ignorant, greedy, naive liberal voters must not be allowed to experience the reality of their own doing... the Obama administration will not allow it.

Shamrock - how can you still be friends with such a person? I would lose all respect and tell them so before dropping them.

THEIR crummy immigration laws/policys that make it so easy to come to the United States.

More nonsense. The reason illegals are here is because they can get jobs. Want to get rid of them then punish the people that hire tem But we cannot because the right wing lackeys will not permit that to happen. It is th fault of one party they are here and it is not the democrats I speak of.

Steve-2570999

@Animalz

If you don't vote then don't complain. Voting is how we fire these morons.

Actually, maybe you would like it better in North Korea - all of your decisions would be made for you

Steve, you dumb ass!! I do vote!! I sure as @!$%# didn't vote for Jerry Brown, who messed up CA. once before!! At least the North Koreans are lying to my face, not behind my back!!

If the top 2% paid 100% of their income in taxes, it would pay for 8 days of the federal budget. Oh I forgot, we haven't had a budget since Bush was the president. The string on the democratic bean counter must have broken.

It's only a matter of time until all the cities in CA declare bankruptcy. Pretty soon we'll have to rent the state to Mexico so they could save up money. The good thing is that Mexico won't have to enforce spanish as the official language.

The sad thing is that the same people who were handing out high cost retirement plans to teachers and city workers are the same people we have to trust to stop giving hand outs to Illegal’s who live in San Bernardino and trust they have the guts to tell teachers and city workers they're not getting what they were promised I'm glad to see this bankruptcy Now we can get teachers who want to teach and city workers who want to work maybe the 50 percent drop out rate in San Bernardino will be a thing of the of the past.

Entitlements have nothing to do with our present situation and thats a fact.???

I see the public sector has overspent and is filing for bankruptcy? That is a Fact!

I love watching the California cities going broke one by one. The progressives spent like drunken sailors for years and now the chickens have come home to roost.
Just too funny!

Obama is not the reaosn California is going bankrupt. Nice try, though. I left that state ten years ago and have never looked back. People trying to blame a president for that state's issues is hilarious.

Tyler (post 1.38)

You're a hypocrite!

On March 3, 2012, you while reading the article titled "Woman called 'slut' by Limbaugh is 'stunned, outraged'" I was shocked to see that you "banned" a few people for relatively mild comments in the discussion section while ignoring incredibly vile, hateful, and outrageous comments directed at Rush Limbaugh and Republicans.

Here are some examples what what YOU Tyler allowed or disallowed that day!

1. "Move to Cuba, if you believe that hogwash," resulted in Tyler issuing a month long suspension.

2. "The hypocrites are out in force." resulted in Tyler issuing a one week suspension

3. Calling Rush Limbaugh a "Fat Piggie," "Obese Junkie," "misogynist fat pig," "Fat clown" and "leader of the small dick society" resulted in NOTHING from Tyler.

Tyler, you ignore violations of the Code of Honor when they seem to support your own views, but hammer people for far less. Please tell us all, how many times have you suspended Feisty Redhead for her vile comments and insults to people. Your blatant political pandering is clear for those of us who have seen your antics for a few months now.

No one seems to remember when the ENRON was raping the California economy and the federal government sat back and did nothing.

Its why Texas has so much money now.

Like I said it before and I will say it again

Thanks Democrats for putting us in this fine mess..

They have the super majority in Sacramento the other side has absolutely no say 8)

This is what happens when ONE Party has control.

I mean how much more can you screw up are once great state 8( and the Gov wants to raise taxes come November LOLOLOL

When you have to spend 50K for community college you know deep down there is a problem 8(

Moonbeam is going to get a rude awakening when the citizens of this state are going to send a very loud and strong message @!$%# OFF.

San Diego and San Jose already told the Unions this message just a few weeks ago.

What? Another bankrupt California city? This has to be an error. No way this can happen in such an economically responsible state. Must be an erroneous report.

@steve-1962 Both San Bernadino County and San Joaquin County (City of Stockton area) are Republican controlled. But this really isn't a "party" issue, it's a demographic problem with the type of incomes, property value volitility, and industry.

http://en.wikipedia.org/wiki/San_Bernardino_County,_California#Politics

http://en.wikipedia.org/wiki/San_Joaquin_County,_California#Politics

See how well liberalism works in California? Cities going broke one after the other. Same with Europe. Jug-head wants this for all of America. Now you see why we need someone in that office that knows what needs to be done?

john, "Tyler, you ignore violations of the Code of Honor when they seem to support your own views, but hammer people for far less. Please tell us all, how many times have you suspended Feisty Redhead for her vile comments and insults to people. Your blatant political pandering is clear for those of us who have seen your antics for a few months now."

that's the way it is on this site. different rules for different fools.

You Libbies can keep blaming the GOP, but THE FACT is that states that have been run by Democrats the past 30 years are failing (CA, MI, NJ, NY) and states run by the Republicans are the most successful (TX, WY, OK.) BTW, souce is CNBC, a very liberal media outlet.

EvanC

Super Majority = Democraps

We all know who controls this state 8)

That's why those dumb @!$%#s are spending billions on high speed rail yet out of the same mouth they are willing to cut services and education.

Blame the republicans for California failing. I guess it is easier to blame then to admit you are wrong. I am so tired of the finger pointing. Democrats, you are in power and have the majority, either fix the mess or get the hell out of the way.

First the public was asked to fork over their hard earned dollars (and lives) for a phony war orchestrated by our government for the purpose of providingthe muscle to protect the private corporations' interests while they excavated natural resources.

Then the public was forced by our government to fund the largest bailout of private corporations the world has ever known, due to the cooperating relationship between our government and financial entities. (So much for the supposed workability of "capitalism". Under capitalism, failing companies are supposed to fail, not be bailed out by public monies).

Now that the federal government has stripped a majority of the wealth from the bodies of its citizens, the local governments are picking at the bones. The federal government was Johnny-on-the-spot helping their corporate friends, but you won't see them helping the people.

Our government has become such a corrupt cesspool. Maybe it is time to give up the citizenship and move. We are "too big to fail", but there's nobody to right the ship.

“Well, Doctor, what have we got—a Republic or a Monarchy?”

“A Republic, if you can keep it.”--Benjamin Franklin

S 1914, That's why we're not that close of friends anymore. Entitlements have everything to do with it. Texas, isn't doing as good as they like to think. We rank 26th in education and Property/sales tax is high. We got a lot of minimum wage jobs, and $10.00 an hour jobs, thats only $400.00 a week before taxes. We also hand out a lot of welfare here due to these low paying jobs. Cost of doing business here is high, everything is rising, except the wages.

Unbelievable that anyone with a single wit about them can blame anything that is going on in Cali on the republicans or GW . Cali has been a liberal spend free socialistic state for the better part of 20+ years, sending more money from foreign aid wouldn't solve anything as they would continue to overspend and we'd be right back here talking about it in a few years again.

What Cali needs to do is wake up and stop the giveaways to every breathing creature and start letting people earn what they have, stop encouraging imported labor, free school etc. The only way additional money should be sent to Cali is if the feds get to say how it is spent ( they aren't good at it but they are better than Cali's state and city governments

)

alwayzright

Entitlements have nothing to do with our present situation and thats a fact.???

I see the public sector has overspent and is filing for bankruptcy? That is a Fact!

Simple and to the point Alwayzright, and you hit the nail right on the head.

<voted up & thumbs up>

Obama 2012

Can anyone see the bigger picture and recognize what has taken place in our country? We are victims of the biggest Ponzi scheme the world has ever known.

The blame shouldn't be focused on one president, or one political party. Immigration and pensions need to be cleaned up, but they're not our biggest problem. Many are blaming fleas for a cancered dog.

You must ask yourself who is sitting on the bulk of the money to know who benefited from the Ponzi scheme. It's the banks, Wall Street, large corporations and the government officials who made the Ponzi scheme possible and who now work for those same corporations making millions of dollars.

Wake up!

alwayzright

Entitlements have nothing to do with our present situation and thats a fact.???,

You really shouldn't drink this early, it's not good for your health.

@Big Al-369306 There isn't a Super Majority in the state Senate or Assembly. They are close, but it's still just a Majority. The California Constitution has a requirement of a super majority for tax increases and budgets.

Entitlements have everything to do with the state of the economy; in 1964 ,before LBJ great society, the old age and survivors fund, was awash in money, it held mostly Treasury bonds; then came ssi, food stamps, housing allowance; then free medical care; all of it taken from the trust fund (remember LBJ, collapsing the fund and turning it over to the Federal Reserve to back new bonds); they broke the fund, they broke the bank, when the money got low, they raided the federal retirement fund, now broke, they raided the veterans retirement fund, now broke, they raided the Highway trust fund, now gone(it is now in the general budget, if they ever pass one), they raided the river and harbor trust(was paid for by shippers, now broke); in plain simple words, we are dead broke, and living on borrowed money, that can never be paid back.

Another democrat/union run city sucked dry. This excerpt is directly from the LA Times;

The city's fiscal crisis has been years in the making, triggered by the nation's crushing recession and exacerbated by escalating pension costs, lucrative labor agreements

More will follow.

EvanC

Everything that is voted on is won by the Dems all the other votes from the useless party do not count.

Stop trying to tell us that the Democrapolas are not in Charge because they are 8( I would blame the Republicans if they were the ones screwing things up.

We already pay some of the highest taxes in the Country and Gov Brown wants more and more...

The out of control Democrat legislature is constantly screwing up and the budget is a complete sham and once again 16 billion in the hole 8(

For these Cities the main reason they are broke is. Lost Tax revenue from Property taxes. To many houses were built and the jobs went away. Due to most of them being manufacturing jobs. Being offshored to China and India.

So what is Romney's plan to recoup the lost revenue that the fallen housing market created. Offshore more jobs. The problem with people today is they cant see past 2 feet. Everything in our economy is now linked. And it already went Global. No president can secure American Jobs. That is up to the consumer. But to vote in a President that wants to Give MORE tax breaks to Corporations that Offshore jobs is INSANE. Unless you already own a large chunk of that Corps stocks. And have offshore accounts for the profits.

As for the illegals part. If you believe they are the cause of all this. I have some California Swamp land to sell you. We are only the 8th largest economy IN THE WORLD. Due to cheap Farm labor. Yup I said it Mexican Illegal farm labor. I would rather have field workers Here in the USA. Spending some of that money back into the economy. Then to have to buy my produce from Places like South America.

Kumar (#1.52):

The theory that red States and economies based on oil production are better-off than the economies of old-line blue industrial States is a fairly easy assumption to make, considering record oil company profits, so that is really not news. Moreover, including Wyoming in that list is like including Rhode Island with California and Texas, since Wyoming's total economy is less than 1/500th the size of that of Texas. Imagine if just 1/4 of the unemployed people from California moved to Wyoming in search of jobs? There would be 50% unemployment overnight and Wyoming would instantly go to being the worst-off State in America too, as there would be no possible way for Wyoming or its cities and towns to provide that level of service demand and the State would be crushed in the process!

What's going to happen in Texas and Oklahoma when your oil supplies start running dry at the same time that it increasingly becomes too warm to live there on a year-round basis? Suppose we were to close down several of your big military bases like Kelly and Tinker too, or suppose that we were to enact harsh restrictive barriers to free trade, which would just kill Houston and your Mexican border cities too? Another reason that those States are doing well is that they spend so little on education and on social services, and I am not at all certain that fact is such a great thing to be proud of either! Doesn't Texas lead the nation in incarceration rate too? How much dough does the government of Texas have to provide every Winter in low-income energy assistance funding? Zero?

I'll agree with the 707 captain with his theory that some cities and regions are doing much better than others are, and that cities with substantial economies based on IT, global trade, import/export hubs and transportation services, high-tech, higher education, and medical tech are doing markedly better than are cities dependent on heavy manufacturing and military contracting or hosting military bases are, but that is really not new news either, as during Ronald Reagan's first term in office, import traffic through the Port of Los Angeles increased by 1500% while our older industrial cities around the southern Great Lakes region suffered through a long and terrible recession at the same time too, one that many didn't substantially recover from until defense spending cuts made for more spending on the civilian economy during Bill Clinton's Presidency.

The region that I live in, metro-Denver, is doing above-average economically too, though we have had a few weak spots too. We have a large high-tech presence here, several major universities, several large leading research hospitals, Denver is a foreign port, believe it or not, we have several airline hubs and all major pro sports teams, and the Denver-area is also a major warehousing and distribution hub too, on top of the spending that our local mountain vacation industry draws in too. Currently our own unemployment rate is running around 7% here, and some of the better-off suburbs have seen home prices rebound somewhat, and there has even been some recovery in new home construction in our suburbs too, though some lesser areas of the city that were hit harder to start with have had a more-difficult time recovering too. We have had to make some budget cuts and lay-off some government workers too, but our economy is improving too.

San Bernardino at one time hosted Norton AFB and March AFB was nearby, and both bases are now closed or held in reserve. Kaiser Steel in neighboring Fontana which at one time provided many middle class jobs closed in the 1980s too, and several large fires in the last decade have destroyed hundreds of mainly mid to upper-scale houses too. San Bernardino has also been beset by an increasingly lower-income minority population which has been hit hard by the recent recession and collapse in home and retirement account values (as the city's higher income residents have increasingly fled to better-off and more-modern neighboring cities like Riverside too). Even travel through San Bernardino to the mountain resorts above the city has fallen off too.

What has hit San Bernardino and Stockton are different in many respects, as Stockton is much-more of an agriculturally-based economy, and huge cuts in the local ag irrigation water supply wrought by the fish and bird-lover crowd have badly damaged the long-standing local ag economy there, but the outcome has been the same, as a collapse in local employment combined with a large number of commercial and residential vacancies has killed local tax collections and necessitated huge cuts in local government services, which ends-up at the same point as deferred maintenance anywhere else too. Stuff falls apart and isn't fixed, while response time greatly increases, as local police crack down hard on minor infractions over the revenue involved, and people who are able to get tired of it and leave, further driving-down home and commercial property values, while social service demand rises, and finally bankruptcy further kills any local suppliers left contracted to the city too. I think that it is important to note that Stockton is fairly conservative politically too.

The only way that America's urban industrial economies are going to come back is to either enact stiff trade barriers or to see overseas manufacturing or shipping costs rise substantially, and a collapse of the value of our Dollar could also greatly affect the import/export balance of trade too, though a collapse of the value of our Dollar would also cause many other negative economic effects that would drive far more individuals, corporations, and governments into bankruptcy too. Out of control budget deficits and a lack of corresponding economic growth will most-certainly drive down the value of the Dollar too, though making massive cuts in governmental spending will also just as certainly drive large areas of the country into bankruptcy too, while our infrastructure falls to pieces too.

Is that the kind of outcome that you conservatives want, one where America's infrastructure is badly damaged and one where our workforce becomes increasingly poorly-educated and non-competitive, one where our industries, cities, and States are driven into the ground, and the economic future of the lion's share of Americans is greatly reduced, just so that people like Romney and the Koch brothers can live lives of palatial grandeur hiding their wealth offshore from US taxes?

Anyone who thinks that Romney and the conservatives hold a better economic future for the masses needs to study the current situation on the ground in Lagos, Nigeria, a rapidly-growing economy to be sure, but also one where there are virtually no environmental protections, and also an economy where a very small percentage of the population live lives of palatial grandeur behind high guarded walls while fully half of the population enjoy a life-expectancy in the low 40s and an infant mortality rate 10 times what inner-city Detroit's is, living in huge violent ghettos where running drinkable water, electricity, sewage treatment, employment, medical services, police and fire protection, and access to any more than a barely-livable amount of food are things that those residents can only dream about today.

Is that the kind of life that most of us want just so that Romney and his buddies can get really rich? Is extreme unregulated wealth addiction in an economy of limited size good for everyone involved? We already know quite well what the outcome will be, as there are plenty of examples, so why does anyone among the bottom 90% of us think that this time will be different?

For a long time before the information/creativity era, many city's were spending at levels that were o.k. when they first formed. But then many city's started loosing their wealthier residents (not necessarily all rich, but the majority were very well off). The city's all ignored this loss of tax base. Housing value declined and newer residents moved into these city's and these city's still expected to provide the old standard of services. But these city's never stopped to notice that their tax bases had disappeared. This is what has happened with San Bernardino and Stockton. They still think they are going to have 1950's services with 2012 populations. And Mono Lakes seems to have a different problem, it's tax base still seems to be there, I do not have a model for Mono Lakes.

To the misguided liberals, you need a new story. George Bush had nothing to do with the liberal cesspool that is California. Out here we have had decades of liberal control of our state government. We are drowning in debt, and overrun with illegals. The further south you go in our state the more it looks like Mexico, from the billboards to the classrooms.

Hate conservatives all you like, but the fact is that the states that elected Republican governors are recovering at twice the rate of states electing democrat governors. There are answers, but the liberals are too busy focusing on whose feelings we are hurting, rather than whose lives we are destroying through misguided liberal ideology.

When will people finally wise up and realize we need a revolution! What I mean by that is we need radical change and we need to use our voices and stop being so complacent that we allow for this type of stuff to happen. We have allowed unions to run this country into the ground. We have allowed democrats to turn our country into a helpless welfare country where we have decided that it is best to continually ask for handouts rather than become independent and self-sufficient. Stop allowing these people to tell you that you need them to exist. We need change and that change begins with people getting off their butts and making a difference for our kids. Stop asking for the hand outs and start by working hard and giving back. Get rid of the unions and get rid of Jerry Brown, Obama, and the likes that make people dependent on their programs and views. Enough already! We have to make this a better place for our kids. Right now, we have allowed these people to ruin our country and load our kids with no hope and unbelievable debt. Enough already!

I wonder how things would be if we took all the bonus monies that wall st has stolen from our economy over the last few years, that would amount to well over 75 billion dollars !! It may not fix everything but would be a move in the right direction !!!

So true MisterWonderful have you had a chance to take a trip down to Santa Ana 8) great place 8p

@Steve. Dude. You have to be joking. Really? Your not Joking? Not even a little?

Do you realize that California is the Bluest of Blue. The Crown Jewel, the King of Blue States. There isnt a single spec of that state, that isnt. With all the policies, and politicians cattering to minorities and illegals, all the corruption the state has in it, this is not a surpise one bit to me. The most populated state, that also has the highest tax rate in the country still cant pay its bills. Can you guess why? This state is the perfect example of what happens when Democrates are allowed to get away with every siingle policy they want. The amount of wealth that resides in California, the so called 1%, have been taxed to death, and yet the states still broke. Like i said. Im not suprised one bit. You are what you eat. A giant fat bloated black hole for money, where money is bleeding from every orraface.

How is this the GOP's fault or W's? Last time I checked Cali is run by democrats, very liberal democrats. So please explain to me how this is anyones fault but that of the democrats? These people have a spending problem and Nasty Piglosi is at the front of it. By the way, did anyone catch any articles about Nasty Nancy making big chunks of money off of foreign investments? You know the thing that the left is attacking Romney about.

Mammoth Lakes is probably failing because of the downturn in tourism. Even though the rich will continue to enjoy the part that is a ski resort, many other ski resorts exist to choose from.

Another California city bites the dust !!!

Wait a minute....the solution to California's problems is to make the entire State a "Sanctuary State".

Gotta love the Liberal vision.

Get ready for more to follow California. This is what happens when liberals run a state. I live in IL (Chicago) so I know how this works.

Johnm-1308966....."I wonder how things would be if we took all the bonus monies that wall st has stolen from our economy over the last few years, that would amount to well over 75 billion dollars !! It may not fix everything but would be a move in the right direction !!!"

LOL.....and the TAX INCREASES proposed by Mr. Obama on the RICH equates to about $ 78B which would fund the Government for EIGHT AND 1/2 DAYS. Yep, that is going "in the right direction" to meet his PROMISE of reducing the deficit in HALF during his first two years in office.

And that is Mr. Obama's current campaign rhetoric.....BAIN.....OUTSOURCING JOBS.....and.....CLASS WARFARE again since he cannot campaign on his FAILED Domestic and International policies nor HIS ECONOMY....."Give it (economy) to me" after being in office for nearly THREE YEARS.

Liberals can't live with the truth. To many comments just parroting but no facts .

S 1914, That's why we're not that close of friends anymore. Entitlements have everything to do with it. Texas, isn't doing as good as they like to think. We rank 26th in education and Property/sales tax is high. We got a lot of minimum wage jobs, and $10.00 an hour jobs, thats only $400.00 a week before taxes. We also hand out a lot of welfare here due to these low paying jobs. Cost of doing business here is high, everything is rising, except the wages.

The unemployment rate in Texas is 6.9 % lower than the National Average. Texas rank 26 in education due to the high level of Latino population mostly illegals, the majority of them come from rural areas from Mexico it means illiterates, no habla Ingles not even write or read in spanish.

Liberals can't live with the truth. To many comments just parroting but no facts .

S 1914, That's why we're not that close of friends anymore. Entitlements have everything to do with it. Texas, isn't doing as good as they like to think. We rank 26th in education and Property/sales tax is high. We got a lot of minimum wage jobs, and $10.00 an hour jobs, thats only $400.00 a week before taxes. We also hand out a lot of welfare here due to these low paying jobs. Cost of doing business here is high, everything is rising, except the wages.

The unemployment rate in Texas is 6.9 % lower than the National Average. Texas rank 26 in education due to the high level of Latino population mostly illegals, the majority of them come from rural areas from Mexico it means illiterates, no habla Ingles not even write or read in Spanish.

By the way , the unemployment under the Democrat Governor of California is .....10.8% WHERE ARE THE JOBS MRS. SPEAKER POLOSI , WHERE ARE THE JOBS IN YOUR STATE

It should not be to hard for Polosi to answer and tell where all the minimum wage jobs are. If I read #1.79 correctly, I can not see why anyone should be proud about a lot of minimum wage jobs and the related drop in education ranks. Realistically, may be we should all prepare for this - but why be proud of it?

Nancy Pelosi's tax return for 2011 states that she made five millions dollars. Now, I know the congress are paid fairly well, but five million seems a tad more than her salary. If you look at Nancy's politics they are left of liberal, she is all for entitlements, giveaways and believes that food stamps are GOOD for the economy. I doubt seriously that she believes half of what she preaches. Her braindead constituents on the other hand are all over her, witness her 25 years in office (term limits anyone?) and she panders to them so that she can have the power base that allows for her insider trading, said insider trading making her a very, very RICH woman. She is not unique, but she is a perfect example of how liberals will vote and they will vote in such a consistent manner as to quarantee bankruptcies.

Interesting so many blame California for embracing illegal aliens when in 1994 they voted in proposition 187 which required parents to prove they were legal to enter children in schools, denied emergency room treatment for those who couldn't prove legal status or pay except life threatening care and required police to check legal status of those stopped for any legal reason. It was ruled unconstitutional by the supreme court. California then attempted to sue the federal government for costs to provide services to illegal aliens that the fed required them to provide but it was rejected. I guess the right wingers would rather rant and point than research the truth.

The problem is governments spend perceived revenue, they don't think about the effects high Unemployment has on their incoming revenue, it's just poor planning, this is what happens when a piece of paper is thought to be more valuable than a persons actual ability. If you have to attend school all those extra years for a degree, that scares me, why because to me that means you have a learning disability and require someone to hold your hand because you're not capable of learning on your own.

The eighth largest economy in the world and yet broke. I've visited California and I'v changed my view about it. It has such beautiful scenery, fertile soil, ocean vistas and has no reason to be in the "state" it is now. You can blame GOP, TEA party and the media all you want but clearly the "Great Liberal Experiment" has fallen short in a big way.... something has to change... It is my opinion that the "change" must start at the Top... And I do pray for those in California in economic hardship now and hope they make the changes necessary in the local counties and change the "old guard".... This is just a shame.

Flame: Much of the blame for this bankruptcy, and the earlier ones as well, is due to the passage of Proposition 13 in the 1980s. Limiting property taxes, however well intentioned, has made it impossible for cities to expand their tax base. The idea was to limit government by limiting tax revenue, but it has worked out that way. Coupled with an imploded economy and tumbling housing values, this is the result. It has nothing to do with the "great Liberal Experiment" you cite; it has everything to do with the conservative's desire to choke government and the inability of the federal government, state government and local government to adapt to a changing environment. No level of government should be in this predicament, but entrenched power will not allow for needed change.

Kraig - Correct,and when faced with little income, there must be little expenditure. Time to put the city admins directly in the line of fire and hold them legally responsible for their mismanagement (civil and even criminally responsible - fraud).

Flame is right. Proposition 13 may have constrained how much money the government could raise through property taxes, but the reason so many California towns are now facing bankruptcy is that the officials in those towns refused to rein in spending even knowing that they were severely contrained in their ability to raise money. Failed liberal policies are absolutely to blame for most of the financial mess in California. Do you have any idea how much California's taxpayers are paying to support the children of illegals alone? The endless pandering to unions certainly didn't help either. And I have seen a ton of articles in the last few years about the ridiculous number of corrupt officials in many California towns and the outrageous salaries and perks they were paying themselves and their cronies. If I was a taxpayer in CA, I'd be doing everything I could to get the h*ll out of there. It would be interesting to see what they would do when there was no one left but illegals, welfare recipients, politicians and the Hollywood a$$hats.

COMMON THREAD: OVERPAID CITY WORKERS. They never slowed down, or did too little too late. Plus when city monies from the county and state are reduced because of having to provide free education and health care to MILLIONS of illegal aliens (That's true, public education and Medicaid, look it up, 1st and 2nd biggest budget items of all 50 states) things don't work well.

LIBERAL GIVEAWAYS = BANKRUPTCY

California has a spending problem. It's a very liberal state, however, there is blame in both parties.

No one is willing to make the hard choices, and Proposition 13 isn't the lynch-pin that started this.
I remember when Prop. 13 passed, and a lot of older homeowners were able to keep their homes.

If Proposition 13 wasn't ever done, we in California would still be in this mess.

Politicians have an insatiable desire to spend, spend, spend, when times are good, and spend, spend, spend, when times are bad. They have no concept that other peoples money will eventually run out. Then their solution is to raise taxes.

The only problem with California is Californians...........other than that it's a beautiful state.

gtouch - You are wrong, all of the citizens of Mexico illegally residing in California are a huge problem.

The problem includes the 2/3 majority rule to raise taxes combined with an electorate that passes all kinds of crazy propositions without any money to pay for them. They know taxes won't get raised to pay for them and yet are surprise they've run out of money? Also, the rule hampers the legislature from taking any steps when a crisis such as the 2008 recession hits as a small minority can hold everyone hostage.

The City of San Bernadino can travel to Bankrupcy Court on the new multimillion dollar high speed train just approved by the Democrats in CA.

But at least we are going to get high speed rail!

tant, don't hold your breath.

Accurately stated, comon-864012. With the types of administrators in Cal Trans, we sure do not want to worry about anyone holding their breath for some 20 years.

Twenty years? Try fifty and then no guarantee it will happen. Hmmm. Seems there are cities in Alabama that are broke because they invested millions (which always grows to billions) in wastewater facility boondoggles. If you look closely at politicans, you will discover that much of what they do is directly related to how much money they get paid by developers, builders, and other's with a 'special' interest in getting their projects covered by tax monies.

Were F'd and it's only going to get worse

Yep. We used to have the gigantic Bethlehem Steel Corp here. It built half of New York City, a couple thousand ships and guns that helped win WWII, and at one time provided a good living for 35,000 people. It's gone, of course. We can now buy all the steel we want from Korea. So you might ask "What's there now that The Steel is gone?" A casino. Sort of symbolic, ain't it.

jake2247--There will be a lot of posts about this but, you have already said the basic thing. If we don't make, design or invent anything then we go like Europe--same future and it isn't far away. We keep falling farther and farther behind in global economic competition.

In January-at 15.22 trillion in national debt we have surpassed 100% of the GDP.

Obama said, ..."cut the deficit we inherited by half by the end of my first term in office". We have taken on 7 trillion in debt instead.

The number of jobs that are being added do not keep up population growth. Biden said, 4/10, that the economy would be adding 250,000-500,000 jobs each month. Last month we added 80,000. In May we added 69,000.

In 2010 large American companies increased the number of workers in the U.S. by 0.1% and by 1.5% in foreign countries. Companies are not just looking for low labor costs and taxes but for areas of rapid economic growth.

The first thing the Government needs to do is reign in spending but I haven't read/heard either one talk about that-- all either candidate seems ultimately concerned with is getting elected.

Grishnak..............the only places where cuts in spending can make a difference is in entitlements and military spending. Any candidate who says they will cut Medicare, Medicaide, Social Security, will be immediately defeated, same is true for a candidate who says he will cut Federal pensions and benefits. Result is that while every candidate knows we must cut spending, no one on either side is willing to actually say what they will cut. Everyone wants someone elses piece of the pie to be smaller. Old people will tell you how they paid into the system so they are entitled to their medicare and social security, Federal workers will tell you that they worked like slaves for sub minimum wages so they could retire like kings after 20 years, military will play on your patriotic side and make you feel guilty for cutting a penny out of their billion dollar weapons programs designed to fight last centurys battles. Every candidate knows if they tell the truth, they get defeated, so they keep on playing the game of blaming the other guy. If a candidate says that we are spending too much, ask them to be specific, which program will get cut, how many dollars will get cut, will the cut be permanent, and how many government people will be permanently laid off as the results of the cuts. ANy cut that does not reduce government head count is pretty much a fairy tale.

Nobody wants to tell the Emperor that he is naked, his "New Coat" does not exist.

MM-584706- All true. No cuts can be made without enraging some group. The only answer is jobs?--- just not solar panel manufacture.

It's funny. People talk about cutting the military budget, especially for weapons projects. and I'm not saying that they're wrong. We need to have across the board cuts in spending. But what a lot of people fail to realize is that when you stop purchasing aircraft, tanks and ships for the military, Boeing, Lockheed-Martin, General Dynamics and a host of other defense contractors have to cut payroll.

The government dollars flow out of Washington and into the coffers of major corporation who hire Americans to build implements of war. You shut off the spigot in DC and a BUNCH of people all over the country lose their jobs.

I'm not saying its not necessary, I'm just reminding people that military spending IS a jobs program and when you turn it off, middle-class Americans will be laid off. It's a fact and that result needs to be planned for.

And today in Washington a vote will be held in the House to repeal the ACA, with no hope of passing the Senate or being signed by the President. Maybe someday they will get back to that promise of the 2010 election - something about job creation, wasn't it?

John in NW - and Obamacare is one of the biggest job killers of all....The law imposes costly new requirements on businesses, which remain uncertain of what their costs will be down the road, leaving them to postpone hiring decisions. In fact, one survey showed that 33 percent of small business owners said Obamacare was either their greatest or second-greatest obstacle to new hiring.

Grilledcheese:

I am a small business owner and you want to know what a real problem is? Paying for healthcare, part of which is the expense of paying for uninsured claims. Other than the uncertainty of whether the bill will be implemented because of these absurd repeal attempts, please explain the effect on hiring that this bill has. While your claim sounds good, there is little basis behind it.

California needs Gov Scott Walker's business plan.

America needs Gov Scott Walker's business plan!!!

I guess the voters showed those whining (union) protesters in Wisconsin.

The good, middle class jobs are gone for good. Don't even waste your time dreaming they are coming back. Obama has run our economy into the ground more than Bush did (which is saying a lot). We owe over $15 trillion. Soon just the interest along on that debt will consume about 25% of what we take in as taxes. We are doomed. Even the economists of the professional left know this (but can not actually tell it to the people).

How many cities in Wisconsin are filing for Bankruptcy? don't recall hearing of any, after Gov. Scott Walker reigned in the public sector unions.

Californias' problems began with things like proposition 13 ( thanks Ronnie) and then there were all those other tax cuts. Well, here are your results. But no, lets blame it all on the illegals. It's their fault that we have wanted everything to be there but no one wants to pay for it. With the wealth that exists in Santa Barbera this is shameful.

John-2006106 How many cities in Wisconsin are filing for Bankruptcy? don't recall hearing of any, after Gov. Scott Walker reigned in the public sector unions.

In neighboring Minnesota Gov. Mark Dayton has not reigned in any public sector unions either, and no city in Minnesota has gone bankrupt.

Besides, wasn't Arnold "the baby maker" at the helm during the 8 years of Bush.

The answer is; how much are we to become a Libertarian Economy before someone asks the Cayman Islands to invest in its own Navy to protect Romney's financial interests.

Arnold Swarzgegger is one of them sitting in the Ivory Tower!! Arnold claim to be the fixer, all he did was screw his nanny, and banrupt Ca.. Right Wingers always talk that moral talk, but inside, they be shady, real shady.

The liberals alone are to blame for California's woes.

@ Jesse G...Do you forget that this is America which was founded on the right of all to INVEST in time, money and risk - to name a few - in the hopes of getting wealthy? If you have the cojones or really the ambition you have the opportunity to join those in their towers...LOL you are probably one of the OWS crowd who prefers to condemn the wealthy (who, I would add CREATE jobs unlike the idiot in office currently). Then, after taking a risk if you are successful you could give your profits to the government to reduce the deficit...or the poor to pay their expenses or better yet to fund the OWS group - with which you would have very little in common with at that point. OPPS, I forgot you are to lazy to work let alone invest money that might be yours. Unhappy here?? Leave for a Socialist country of your choice and let me know how YOU like their austerity program!

I can't help but notice, however, that those ivory towers are fiscally sound, and the Wall Street firms are in the black.

You can blame whoever you want for the recession, but it's the city's job to keep their budget in order. It's not supposed to be an impossible trial to spend only as much as you take in, and blaming rich people elsewhere is not helpful. We need actual government reform if we're going to keep our cities financially stable; nothing you do to bankers is going to help it.

It really, isn't nuclear physics, is it?

And frankly, even if it was, we kind of got nuclear science down decades ago; what's taking government so long?

Arnold Swarzgegger is one of them sitting in the Ivory Tower!! Arnold claim to be the fixer, all he did was screw his nanny, and banrupt Ca.. Right Wingers always talk that moral talk, but inside, they be shady, real shady.

PULEEZE!....Arnold was no Republican. He only had an R beside his name. He couldn't make any changes with the Dems controlling the state. HE then caved and became one of them.....Arnold is NO conservative!

It turns out there is not enough money in the universe to satisfy the pension increases of the last 20 years. Not just here but all over the western world. One has only to look at Greece, Italy, Spain and really any European country to see where this all ended up. Even Germany which actually still makes stuff has a big long term problem here and an even bigger one if it is to keep bailing out the weaker EU governments.

It is time to force pensions to fit the ACTUAL CURRENT BALANCES of pension funds rather than trying to fit the pension funds to the current contracts.

I predict many California cities are toast by years end.

Wow, how can this be? King Obama said in his Socialist Manifesto that the US economy is "headed in the right direction" That is a QUOTE from his highness.

The "right" direction is into the ditch? Oh, sorry, I forgot. Liberal Policy #1 - blame it ALL on GWB. Sorry, I forgot about that. Hey, wait a minute. If it is ALL GWB's fault, then WHY is the King trying to continue some of GWB's programs???? Oh, sorry, forgot again. It is an ELECTION year and the King will do ANYTHING to stay on his throne.

Wow, his highness is making his lack of a birth certificate look like pennies compared to his latest outrages against the US population. What next? Martial law if he fails to win the election??

MIKE... Politicians used to tax and spend , now Obama spends, putting off the cost (HIGH TAXES) until years later.

Obama care was given the OK from the Court as it is a tax....the BIGGEST TAX in World History!!!

Pelosci (CALIFORNIA) still has not read the 2000 pages!! WHO WROTE IT? NOT Congress.

Obama says the Economy is GREAT and Unemployment is at all time LOWS!! The MESSIAH has spoken!

I very much doubt that the illegal alien issue is a significant burden on the public purse, though if you have a study that says otherwise, I would be happy to read it.

The pensions, though... that's the killer. There's only so much you pay people who aren't actually working, but no one seems to want to acknowledge this harsh (but obvious) reality.

Switching public pension plans from defined-benefit (which has almost completely fallen out of favor with the private sector) to defined-contribution plans would save enormous amounts of money and go a long way toward making pension systems sustainable... yet recent headlines suggest there's no public support for pension reform here in Cali. *Sigh* God forbid people actually have to manage their own lives...

Actually SF I read an article showing the illegals cost the states a bundle. You might google it.
Still, I'm with you on the gold plated pension plans. The private sector gave up on those years ago because they knew they could not afford them if they wanted to stay in business. Those who didn't make this decision went the way of GM. The public sector generally lacks people with the ability to visualize just how costly pension plans are. Now the chickens are coming home to roost. At least it couldn't happen to a better state than California.

Mike- the domino effect is starting to happen in other states as well and it's only just begun.

Mark- isn't it interesting that our current administration is in denial about the costs of illegals they seem to support being in our country

Is it getting worse before it gets better? Maybe we've only seen the beginnings? Who knows.

SF

Here are two articles from the L.A. Times you should read.

A report released this week by Supervisor Michael D. Antonovich from the Department of Public Social Services shows that in November 2010, parents who reside in the U.S. illegally collected $53 million in welfare benefits for their native-born children in Los Angeles County, up nearly 3 million from the same period in 2009.

The figures, including $22 million from CalWORKs and $31 million in food stamps, comprises approximately 22 percent of all welfare benefits in Los Angeles County.

Projections based on the monthly figures in 2010 show the total cost for the year will exceed $600 million, up from 2009 when the total sum of $570 million for CalWORKs and food assistance.

“When you add this to $550 million for public safety and nearly $500 million for healthcare, the total cost for illegal immigrants to County taxpayers exceeds $1.6 billion dollars a year – not including the hundreds of millions of dollars for education,” said Antonovich.

http://losangeles.cbslocal.com/2011/01/20/report-la-county-welfare-benefits-for-illegals-top-600m/

There were 2.8 million illegal immigrants living in California in 2006, the last year for which there are relatively good figures, according to the nonpartisan Public Policy Institute of California. That represented about 8% of the state's population and roughly a quarter of the nation's illegal immigrants. About 90% of California's illegal immigrants were from Latin America; 65% from Mexico.

There are roughly 19,000 illegal immigrants in state prisons, representing 11% of all inmates. That's costing $970 million during the current fiscal year. The feds kick in a measly $111 million, leaving the state with an $859 million tab.

Schools are the toughest to calculate. Administrators don't ask kids about citizenship status. Anyway, many children of illegal immigrants were born in this country and automatically became U.S. citizens.

If you figure that the children of illegal immigrants attending K-12 schools approximates the proportion of illegal immigrants in the population, the bill currently comes to roughly $4 billion. Most is state money; some local property taxes.

Illegal immigrants aren't entitled to welfare, called CalWORKs. But their citizen children are. Roughly 190,000 kids are receiving welfare checks that pass through their parents. The cost: about $500 million, according to the nonpartisan Legislative Analyst's Office.

http://articles.latimes.com/2009/feb/02/local/me-cap2

Well, I can't really argue with that.

I'm personally a big fan of (legal) immigration and sympathetic to illegals as well, but there's probably something that could be done to cut the levels of government assistance going to that segment of population without simply cutting them off entirely or deporting them. But I don't know; the supreme court already decided that states have only limited power to deal with immigration on their own, and there isn't much political will to solve the "problem" here in Cali. Education-wise, I don't care one bit; there's always value in educating the people that live in this country, whether or not they're citizens. Higher education levels mean more businesses and less crime in the long run. The prison system is a different story.

saxon, show where entitlements broke the U.S. in 1964; or in 1974; or in 1984? Why do you not state what is different now? Just write it, what changed in the last 30 years?

People should google prop 187. California isn't spending billions to provide services to illegals because they want to but because the conservative supreme court in 1994 said they had to.

A bank shill great.

It's less an issue of personal responsibility and more an issue of government responsibility. Governments who put their supporters before the bottom line enjoy a curious twist of incentives; they keep getting re-elected even as the situation gets progressively worse.

People whine constantly about "the bottom line" coming before people. There's a REASON for that. It's because you cannot run any organization, from a corporation to a government or even a lemonade stand, for very long while constantly putting out more than you're taking in. It's a cruel but entirely necessary fact.

Because it's home to 209k of your fellow Americans.

and how many foreign criminals is it home to? If the city welcomed them then they got what they deserved.

Wow, this sure looks like violation of SOME policy somewhere - right my fellow comrades? I mean, this person actually states an opinion!! Oh my!! No one gets to do THAT except King Obama, Princess Hillary, and Crown Prince Barney Frank. They are the "only " opinions that count - right???

Let us all sing the Socilaist Manifesto Song of Community and Togetherness and Equality in Everything (except money - I get to have more than you) as we pray to King Obama and meditate on good ideas and positive thinking as we combat global warming and the GOP monster of truthfulness (icky), less gov't (how is that even possible - really??) and conservative values (yucky yuck yuck!)

Perfectly said!! When things get tough most people turn to prayer. I have seen it time and time again while serving in the military and from I those who are incarcerated and facing life or the death penalty. Normally the mainstream media and the liberal local yocals would have come out of the woodwork and been all over the prayer statement. Where are you now? I would be praying too. At least those involved in this debacle were smart enough to turn to someone who could help them. This is the outcome of the most liberal state in the country, illegals and unions that keep demanding more and more and unfortunately there are many who can't see this. To me it is pretty clear the country can't afford the liberal agenda anymore. If Obama is re-elected you get what you deserve. I for one have worked hard, saved some money and invested well, I will be okay no matter what happens; will you? Remember the government produces nothing, they just redistribute what others have to those who don't. I would be more than happy to pay more in taxes, delay Social Security payments for a few years if I were confident those extra dollars would pay down the debt, but I think we all see that the spending won't stop until the well runs dry and there is no other solution.

good ol

Liberals in California had a Republican Governor....not a "Liberal" one. And you left one other thing God can't FIX...that's a black heart...like the Rep/Teas. As long as the "Conservative" scream cut, cut cut..But lets NOT make big business pay a Fair share (think gas subsidies/ corporate welfare) Oh and the Irony of the thing is they put forth a candidate, who Won't release his tax returns, Brags about his "Stuff" (wife's couple of Cadillac"s, Garages with elevators, Foreign accounts to Hide from Tax's, Huge houses, oh and my favorite..."I feel your pain, I am Unemployed too" What an empty suit.

I saw a Great bumper sticker today that says it all. "I'll BELIEVE corporations are People too When Texas Executes One"

Yeah, we did have a Republican governer; for one term. So what? The budget was a mess when he took over and he didn't make it substantially worse before he left. And you must not be very familiar with my state if you think we're just not taxing enough or give corporations free reign. California comes LAST of all 50 states when it comes to ease of doing business. You can hate on private enterprise all you want, prays, but my fellow San Franciscans will outdo you.

Also, I was under the impression that a "black heart" WAS actually something that God could fix. Not totally 100% sure, I'm not religious, but I'm pretty sure that was the whole point of finding faith.

Seems to me that we could use a black heart or two among all the bleeding ones around here. Compassion is no good for making a budget.

SF Account

We have enough Black Hearts what with Banks, Corp. And greedy politician's on Both sides. Yea I was a Proud member of the GOP for over 30 years...right up until they started to cannibalize/eat on there own party. You know with the Supreme Court ruling on Super Pac's the big guys Can and Will rule this country. FYI as a small bussiness owner I don't "hate" private enterprise. I have family & friends in your state, and know they also have issues...but we all need to Buck-Up. (business included)

praysalot....(#9.3)..."I saw a Great bumper sticker today that says it all. "I'll BELIEVE corporations are People too When Texas Executes One"

I too saw a great bumper sticker today :

It was a picture of [ P.Obama---- DOES THIS ASS MAKE MY BUMPER LOOK BIG ??]

By the way...If Corporations did not have the "Personhood" designation....they would have the legal status of a rock.....Try suing a rock the next time you spill a steaming hot cup of Dunkin' Donuts coffee in your lap.....or your child gets harmed in a faulty car-seat or crib.

That is most likely the problem, faith in a non-existent omnipotent being. Faith comes out when all is not well and when all is well. Give credit where it belongs. Sorry assed narrow minded bigots that are the American Taliban. NO RIGHT TURN, EVER.

"We have enough Black Hearts what with Banks, Corp. And greedy politician's on Both sides."

As I noted above, despite repeated crises and new legislation, those "black hearts" seem to be running their banks and corps (why do you capitalize them?) a fair sight better than the bankrupt cities. Human compassion has to come after basic management of resources, because a government that can't meet its basic obligations can't do anything else, including looking after the poor or punishing the guilty or protecting citizens from capitalism or whatever you happen to believe that the government should be focusing on. So despite your distaste for corporations, banks, and so on, they're obviously doing something right, and these cities are even more obviously doing something wrong. We can worry about "black hearts" after we have a "black cash flow statement".

SF accountant you disparage the same compassion that you expect everyone to have for the illegals. And the pension plans that you damn are now being earned in many cases now, by documented non-citizens.

That is a neat trick, that is 'speaking out of both sides of your mouth'!

Companies must understand, if they want to receive any type of tax break or have access to the largest group of consumers on the planet, they must keep their factories, office buildings and jobs here in the states.

Or they can get a big tax break by just moving out of our country completely, taking jobs with them. Until we lower our corporate tax rate, companies will leave our country. Pay for it by eliminating corporate tax loopholes. Obummer actually wisely suggested this 6 months ago, about 3 years after blasting McCain for suggesting the same thing.

AMEN. And to further aid those companies that remain in this country to produce their products. High tariffs should be placed on any products produced in other countries. Hopefully this would encourage the American citizen to purchase US Made products. As for the main issue of municipalities going broke. Budget means what is available to spend. When things are tight luxury items are not purchased. And where monies are being spent one has to review if that can be reduced. Welfare being one of those. Yes there are some that really need the help. But there are many who could fend for themselves. Just to lazy and looking for a parent type to support them.

searay High tariffs sound like a good idea to protect american products but there are two problems with it:

1. While high tariffs costs are passed on to the consumer, local manufactors historically have inflated their prizes to just below the imports (historical fact)

2. Unless American products are produced at the same quality as those imported, they will pay the extra for the quality

The answer is to negotiate for countries like China to lower their tariffs. The administration just got around to filing a complaint to the WTO about Chinese tariffs on cars. An effective government would be able to negotiate to so that China would not let their largest customer go down the tubes.

Corporate tax rates are a problem, too. Making things makes money. Designing them and selling them is an expense. Companies can minimize their taxes by balancing the manufacturing profit with the overhead expenses in high tax countries, and make money in low tax countries. At a lower tax rate, they could manufacture more in the US (jobs) to cover the overhead, still paying little tax. Unfortunately, this administration is more focused on taking money than trying to optimize revenue.

A third problem is spending. Read the July 2012 Economic Report from the Richmond Federal Reserve. Have rolaids or a good stiff drink available, you will need it.

I fail to see how protectionism and/or nationalism will help fix municipal finances. Can someone explain that to me?

Good ol DOG

How was the economy BEFORE the Republicans got in? What was the Tax rate when Reagan was in? Clinton? Now think real hard....when what was the Turning Point???? Wait foe it....wait for it...It was when BUSH & Co. took all the good that had been done before him and GAVE welfare to all the JOB creater's. (How's That Working for US?)

It Took Bush and Co. * years to train wreck this country (with help from the banks) & you think it will FIX its self in 4 or 5 years? Keep drinking that TEA. Until the party of "NO" gets real and starts helping this country, Nothing Can Change.

More excuses, fact remains Obama knew what he was getting into, did he not? He was the one who promised a debit reduction to fix the economy after he knew these things. No doubt previous administrations added to the current crisis but Obama knew what he was getting into. His policies have not only failed to fix the economy but it has made matters worse. He knew what the unemployment rate was and he has spent trillions yet again he has been unable to stimulate job growth. He knew what he was getting into when he made these promises and more and he has been unable to turn things around. He stated himself that if he didn’t fix things it would be a one term proposition and he hasn’t. It is time for him to go and give someone else a chance to improve a bad situation. If that happens to be Romney and four years later things have not improved I will advocate removing him as well. Romney knows what he is getting into and I don’t want excuses from him either. Bottom line, these guys are well aware of what they are facing and I am tired of the excuses. They know beforehand what they are facing, period!

Well put Mark. What happens if the Dems decide to get in the way of Romney? Maybe shot down every bill that is proposed, squash a vital jobs bill maybe go about the country's business of making sure vital services for women are not funded. How about wasting the valuable time in congress by voting on such important bills as when to call a person a person. How would you like it if on day one of the Romney administration, all the dems swore to make his a one term presidency, or sign a pact with a known taliban sympathizer married to a Palestinian politician tool, to do all in their power to thwart all of Romneys efforts. Regardless of what you think or have been told the Republican party has been in the way of progress and needs to be OUTLAWED and DESTROYED for its obvious disreguard for the PEOPLE OF AMERICA. The Republicans are a party of traitors.

Really diggin' the schadenfreude this morning, ain't ya?

Windancer ---Save and cut down on waste--part of our problem is consumers are holding back on spending because of the job insecurity and worsening economic perception. We can't not buy things and expect the businesses we have left to thrive and hire employees. We have to spend-- just more carefully.

We Americans are not addicted to cheap foreign items--that's where some of the better stuff comes from now--wait you are talking about Wal-Mart and similar--yes, they have a lot of crap.

Hay
don’t forget about Boxer, Feinstein.. oh and Mr. Brown and all those coastal
dwelling Hollywood leftist liberals, this wacko sanctuary state is driving away
jobs faster than you can say: “outsource”
they can’t leave fast enough,their greatest hope is at this point is to
overturn prop 13 that has kept the property tax's locked in, once that happens the
shipping of the retired on a fixed income out of the state will be the new
cottage industry! So in in this lengthy article you don’t hear any mention of
what the concessions of the public Unions, of course they are going to blow off
and bone some private company’s out of millions but what about these monstrous
pensions?

Wow, how can this be? King Obama said in his Socialist Manifesto that the US economy is "headed in the right direction" That is a QUOTE from his highness.

The "right" direction is into the ditch? Oh, sorry, I forgot. Liberal Policy #1 - blame it ALL on GWB. Sorry, I forgot about that. Hey, wait a minute. If it is ALL GWB's fault, then WHY is the King trying to continue some of GWB's programs???? Oh, sorry, forgot again. It is an ELECTION year and the King will do ANYTHING to stay on his throne.

Wow, his highness is making his lack of a birth certificate look like pennies compared to his latest outrages against the US population. What next? Martial law if he fails to win the election??

RWING: You and others can blame this or previous presidents, parties, conservatives, liberals, etc., but unfortunately that is both an ignorant and immature outlook to solve any problem. One would think that after 24 years of blaming someone, watching this country get worse by the day we would come to the conclusion that these are our problems wheather we helped create them or not.

Instead of the tired old blame game, lets hear your solutions or do you have any? Please remember that any solution must be achieved under the umbrella of politics today since we don't have a benevolent dicatator.

I'm listening.

Time for the unions to feel some of the pain.
We've all got to do it.

And every republican and democrat in office now should get walking papers. Boots to all of them. With term limits

When the city goes bankrupt, there is usually not one single cause. They should look at what they are getting for their money with the public service employees, as well as see what they are spending in unnecessary support.

The answer is very close to the same in every case.

If you look you will see, that 99% of all the cities taking bankruptcy there are and have been for some time democratic controlled.

The method of choice for dem leftys has been to buy votes with the handout social programs, as well as an unholy alliance, that allows public union to grow more yearly, in return for support at the ballot box.

like every other quasi socialist/socialist government, inevitably they spend all of the other people's money and reality comes knocking, handout, demanding payback.

That is what is occuring, now.

Our responsibility as conservatives is to make sure that the federal government does not bail them put .

They brought this on to themselves, they can now pay for it, or do without.

You are right on mittens! The same thing is spreading all over the country, tho --- not just California, e.g. long lines at the post office on payday -- clammoring to send money south of our border!

Richard Ramirez, the Night Stalker, 13 murders during night time burglaries involving rape, sodomy, child molestation and Satanism, Randy Kraft, the Angel of Darkness, over 60 murdersof young men involving mickey finns, torture and sodomy, Lawrence "Pliers" Bittaker, murdered 10 teenage girls and recorded their pleas and screams while he went at them with pliers and icepicks, avid Carpenter, waylaid young women and couples on mountain trails above SF, murdering 10 during rapes and sodomies and on and on. On death row in California for approtely 30 years. What is the state of California waiting for.

leftsux, that is the nature of the death penalty. If they were lifers with no parole, California would pay a similar amount to keep them in jail, but would not have to pay all the lawyers for the infinitely many appeals, or have to maintain a separate "death row" facility.

LA county alone, spent 600 million dollars on social services for the criminal aliens.

Who would you say is a candidate for first large city to bankrupt?

3 out 5 illegal immigrant children will be a burden on the state or the county
in one way shape or form and at 12000 a year to educate them...that thinking of
cheap labor is a farce...you are paying 20 bucks a bag for those oranges it
just right now the States and counties are just subsidizing it!

The other reason for business to leave California is their unnecessarily harsh regulations.

where is 8%? WTF? it cant be 8% someones throwing bad #'s it's more like 10% things are horrible!

God, Mittens your such an idiot!! There has been a "Time Clock" on welfare since the mid 80's. Read the actual law before you post!!

In reality, California's time limits are meaningless. The only real time limits are federal time limits. In fact, the U.S. Department of Health and Human Services levied a $7 million penalty on California in 1999 because the state failed to move 75 percent of its two-parent welfare families into the workforce under the time line specified by federal law. However, California has managed to undermine federal time limits by failing to implement any strong penalties. The California penalty system can be used to exceed the federal time limit.

There are limits but California doesn't usually follow them.

They didn't follow their budget limits, so why should time limits be an issue? California doesn't see them as laws, they're more suggestions really.

somebody please come up with something original ..I am so tired of Bush being blamed ..get real and get over it.. no one wants to remember when Bush was president Congress was controlled by the Democrats ...ugh