Unemployment vs. State of California

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   MikeNVposted 15 years ago

   "Unemployment dropped to 9.5 percent — the lowest level since July 2009 — from 9.7 percent. But the reason for the decline was more than 650,000 people gave up on their job searches and left the labor force. People who are no longer looking for work aren't counted as unemployed."
   
   Great news unemployment is down?  Right.
   
   "SACRAMENTO, Calif. – Gov. Arnold Schwarzenegger on Thursday ordered about 200,000 state workers to be paid the federal minimum wage this month because the state Legislature has not passed a budget, but the state controller is refusing to comply."
   
   "The Republican governor has been frustrated by the Legislature's failure to close California's $19 billion budget deficit, even as the new fiscal year began Thursday."
   
   What you mean California can't print it's own money?  Most people are not aware that California has already borrowed $8 Billion from the Federal Government.  I don't know how you borrow billions from the Federal Government when they are $13 Trillion in the hole!
   
   Yesterday it was reported the Big Bad Mean Spirited GOP shot down a $33.9 Billion Unemployment Extension Bill.  That's oly $14.9 Billion more than would completely bail out the State of California!  That's a pretty significant chunk of cash!
   
   The Democrats blame the Republicans of course for "Blocking" the Bill. The problem:  There is NO FUNDING... the Democrats just want to borrow more, add to the deficit and hand out the Monopoly money. And while I'd like to see the unemployed get compensation while they look for work (Who wouldn't?  The Bankers got everything they asked for and more) at some point you can't just keep printing and borrowing money... or can you (Apparently Team Obama thinks that's how you "fix" everything).
   
   The Republicans asked the Democrats to dip into the Surplus in the Stimulus Bill that has not been spent.  Be they can't do that... they are going to spend that money in their own due time on the things they want to spend it on.
   
   So you have to ask yourself... can Government fix the economy?  Sadly we all know the answer to that question.

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