Waterpup  

Nice Job Arnold, thought you were supposed to be the “Governator” and pull us out of the mess that Gray Davis left us in. Sorry but the reality of it is you are no better than he was. Just so you know that takes a lot for me to say because I hated Gray Davis. Now you suck just as bad, now we top the list ONCE AGAIN as one of the states that cannot pay their own way. Don’t blame the economy on this one, this has been a long time coming.

States That Can’t Pay for Themselves

by Prashant Gopal
Wednesday, October 8, 2008provided by

The Golden State, which recently scrambled to fill a $15 billion budget gap, still may not be able to meet its payroll without help.

California is going to Washington, D.C., to ask for $7 billion to cover its budget shortfall. Otherwise it won’t be able to pay for its teachers, cops, firemen, and other essential services. Unfortunately, California won’t be alone. A number of other states are experiencing a huge dive in tax revenue and could be going cap in hand to Uncle Sam alarmingly soon. How bad could it get? The potential cost for all the 31 states facing both major and minor shortfalls could be as much as $53.4 billion.

The data is based on a study by the Center on Budget and Policy Priorities released at the end of September and shows the states that have seen the biggest shortfalls in tax revenue in their fiscal 2009 budgets.

California
Budget gap (as a % of the total budget): 22%
Gap: $22.2 billion

Wikipedia: Public Domain

California Governor Arnold Schwarzenegger warned this week that the state might need to borrow $7 billion from the federal government, if credit markets don’t ease, to pay for salaries and other operating costs. The state, which has been battered by falling home prices and foreclosures, enacted a budget that imposed cuts to the state’s health insurance program for the poor and other social service programs.