Gov. Arnold Schwarzenegger has proposed $4.4 billion in tax increases and billions more in spending cuts to close California's worsening budget deficit, declaring: "We must stop the bleeding."
Schwarzenegger on Thursday called for a special session of the state Legislature to address a deficit that has grown to $11.2 billion just six weeks after he signed the budget for the current fiscal year.
There you go kids, New York City and California first out the gate with tax hike proposals. More soon to follow, no doubt.
I don't know where the hell they think people are going to get the money, nobody is going to have a frickin' job. The Big Three car company CEOs are in Washington tonight begging Nancy Pelosi for money. If they go under, it will be some pretty serious shit. Not only will Big Three employees be out on the bricks, so will all the guys who work for the hundreds and HUNDREDS of little companies who make stuff for the Big Three. That's a lot of guys.
Washington may actually have to cut its spending. By which I mean not reduce the rate of spending increase, but actually spend -less- money. Watch what the government unions do. ~:D