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Gov. Arnold Schwarzenegger on California's Budget Crisis

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Kelly C Hitchcock Avatar
Kelly C Hitchcock
Posts: 32
Posted: 01.26.11, 02:27 PM
The single most powerful message a politician can deliver is, "You deserve something for nothing". As long as our political leaders care more about getting re-elected than they care about the country, they will continue to spend.
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Vasil Avatar
Vasil
Posts: 46
Posted: 07.02.09, 01:36 PM
We might be skeptical on whether the rainy fund will work, but let's also give a credit to Gov. Schwarzenegger for trying to balance out both Republican and Democrat interests. He is right that in order to subsequently fix the budget legislator need to both cut spending and increase taxes. Federal government is already spending a lot and the rainy fund idea on the state level is not such a bad one.
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tsmitheugene503 Avatar
tsmitheugene503
Posts: 23
Posted: 07.02.09, 12:14 PM
What was up with those two people who crashed the conference, that was the most entertaining part I agree with @phiscal, you nailed it on the head, "it took the following administration just a few years to squander it all on tax cuts for the rich and other foolish endeavors." Exactly. The rainy day fund will not work because they don't know how to properly handle their finances.
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phiscal Avatar
phiscal
Posts: 78
Posted: 06.04.09, 03:41 PM
Ool,
I agree, I don't think the rainy day fund at the government level will work. Government will break through any barriers and loot any balance in the rainy day funds. Look at the Social Security and Medicare trust funds. There is no money in them.

Oh hey, just a reminder on the Clinton budget surpluses. He couldn't/wouldn't have done it without Newt. Personally I think both parties are poor financial managers.
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Ool Avatar
Ool
Posts: 2
Posted: 05.22.09, 02:52 PM
I’m not sure this whole rainy day fund idea will work.

After all, the Democrats had accumulated a surplus for the entire nation a decade ago, and it took the following administration just a few years to squander it all on tax cuts for the rich and other foolish endeavors.

So introducing budged-balancing measures alone might sound good but be psychologically unfeasible in the long run…
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