CA stops Tax Refunds, New Home Sales Drop, Koadk cuts 4,500 jobs

[WONDAWOMAN]

I think California needs A NEW GOVERNOR!!!

I think California needs A NEW GOVERNOR!!!

I think California needs A NEW GOVERNOR!!!

[WONDAWOMAN]

Well, one thing that did happen this week... good or not good depending on how you look at it, a woman in Bellflower GAVE BIRTH TO 8 CHILDREN IN ONE DAY! Seems they are all healthy- probleM IS, SHE ALREADY HAS 6 CHILDREN, IS A SINGLE PARENT- NO DAD IN THE PICTURE..and she lives @ home w/ her parents. Y would you go thru fertilization when you already have a LITTER of children & no husband? Nosy news says their home is in foreclosure. 14 KIDS 41 WOMAN & NO FATHER! NO WELFARE MAN! JUST SILLINESS!

[blackbirdmarlin]

some body said CA should beeeeee soooollllld to china .... better ask mexacal first LOL

[1n914]

California is bankrupt. They have no choice but to start laying off personnel. The can start with the least necessary workers first and then work their way up the list to police and firemen. I'm from Illinois and our state is tens of billions in debt. We'll be in the same situation that California is in in a year or two. Our state income tax rate is flat at just 3 per cent. I don't expect that to last much longer.

[blackbirdmarlin]

sorry i dont type well and if i go to fast you can what happens good luck

[blackbirdmarlin]

i never said that ..... illegals was the only was CA only prob. this state should not hahe to hold that kind of waste .. sur .. ohter why are we wasting our money one on all of these free loader cops that seem to have nothing better to do than cover each others but. somthing has to go. so why dont you and your town take some of these illegals and pay for all there needs.and let me add aswell that the there more of them hear along with over paid jack off cops than there are people in your state

[blackbirdmarlin]

as much as i hate to open this can of worms i will because tou ask . i live in the state of CA and the first thing they should force border patro and these OVER PAID cops to do there job and start running ALOT of these ellegals out we are spending dillions on medical . as well as there meds. and crime.but that will not happen because they want things to break down or why else would they have run such a loose game? i dont blame the illegals . but they could spred hustle sorry ....

[DEMCAD]

It's just the illegals. Quite frankly, California has a large number of entitlements and now it can not afford to pay for them all.

[eplfootiefan]

You might think that is a shame but how can 4m people affect USA/UK/EU,well Ireland uses the Euro,there is serious talk about ROI going to the IMF for financial aid,the Euro encompassing GER/FRA/ITA/SPAIN,if R.O.Igoes down the Euro could collapse,and every economy in it would be crushed,this is why it is illegal for a country to leave the EURO.

IF THE SHIT REALLY HIT THE FAN AT LEAST THE UK/US CAN PRINT MONEY AS LAST RESORT,THE EZ COUNTRIES DO NOT HAVE THAT POWER,OR THE POWER OF IN-RATES.

[eplfootiefan]

DEMCAD,with so many Americans related,or having ties ti Republic of Ireland,you should consider doing a vid about this,Ireland is in a terrible mess its bubble was 3 times bigger than the UK bubble.

A few days ago the Irish PM admitted the Irish GDP will shrink 10%,shrinking from 2008-2010,it has to be siad normally he has been to optimistic in his forcasts.

IRELAND COULD BE THE NEW ICELAND.

[shatteek]

I love the question of they day. Leaves me thinking and wanting to come back for more. All the best...

[deaneden79]

That's such a good question....and I have no idea! I just moved to Nevada from Sacramento to finish school here, and I feel so lucky (although they're now cutting Univ. of Nevada's budget by 49%...sigh). I think the ripple effect is going to go off like crazy. Sad too...I miss California, but I sure as heck ain't moving back there with all that stuff going on. Thanks for all the updates though!

[scalesofjustice0]

Here what they should do...California should deport illegal immigrants from the prisons...back to their country into that prison system...use the money that it cost to house these illegals to pay people their taxes...It cost $30,000 plus to house an inmate...send these fucking illegal immigrants to prison in their country...Shit...It will create jobs in the prison system in whatever country these illegals are from...It will create a bigger police, doctor, nurse, etc. force.

[scalesofjustice0]

keep posting infromatin because the news paper and media around the world will not talk about this depression... We know that there is still more not talked aobut...for instance...how bad it's really going to get...Job loss is just not going to stop...I noticed alot of California plates here in chicago, il. That means this city will not only be getting legal citizens but illegal wet-backs as well...I moving out of chicago this summer, to a suburb where illegals are targeted by ice.

[darakong]

Crap, I am from California and over here we're so broke...

... keep the video coming; you are my newman.

[jehnubis]

The State of California is screwed! States are going to have to get creative to make money. One creative way to raise money is "lottery ticket sales." Offer maybe a 100 million dollar jackpot, that never resets when someone wins. The catch is, you cant get all the money at once. It is paid to you throughout a 60 year period etc. Creative stuff like that. States could maybe generate an average of 1 billion dollars a month, from this alone.

[Bassmarko]

The government needs to cut programs, services by about 20%. Californian has been borrowing billions every year to meet budget obligations. We have the highest taxes and unprecedented tax revenue yet we still cant balance the budget. People are leaving the state in droves along with businesses reducing the tax base. At this point there is no way to tax our way out of this crisis. Remember government jobs produce nothing and are paid for by our taxes.

[jehnubis]

Don't forget about those Crowd Riots in France Dem! 1 million people! Maybe next video eh

[DEMCAD]

If the private company screws up, who will be responsible?

[DEMCAD]

If you did that, you would end up with hundreds of thousands of unemployed people.

[REALNEWSTRUTH2009]

GLAD I GOT MY TAXES BACK

[tyronebiggums3]

CA witholding tax refunds is unlawful. That money is not theirs. It is a criminal act.

What should CA do? The answer is not pretty.

- Stop or reduce welfare programs by 75%

- Reduce government staff by 25%

- Reduce infrastructure projects by 25%

[tyronebiggums3]

Check out that gold and silver action today. I talked myself out of another order earlier this week. The market and economy is insane. And the republicans all voting 'no' had me stumped. I wish I knew how this is going to end: just inflation, rampant inflation, hyper-inflation, bond/dollar collapse???

[eplfootiefan]

I think the US could lose a milliom jobs this month.

California should cut spending and balance the books,you cannot preach prudence to the populous,and then have government doing the exact opposite.

[centervilletn]

that is the number ive been thinking too...seems the big number of layoff have come at the end of the month to keep them off january's U.I. Claims...planned/coordinated with DOL i expect...you cannot claim for 2 weeks..so that should put this past week in febs numbers...

[eplfootiefan]

The problem is how is the US going to sort out the housing problem if the jobs keep on being lost.

UK is not used to this,we have not had a recession since 1991,we are now officially in recession,USA will be tomorrow,we had 1.5% contraction in last Quarter following a 0.5% contraction in previous quarter.

expect usa gdp announced tomorrow to show contraction of about 6%

Eventually i think the Banks bad assets are going to have to be taken onto the Governments balance sheet.

[chutubeme]

also in washington state they are trying to make school 4 days a weej

[centervilletn]

should create a boom in the daycare business

[1ShaolinStyle]

Hey Decad, just thought I would let you know I just heard the US postal service is considering to deliver mail 5 days a week instead of 6 to deal with there expected 6 Billion dollar loss for this year. That statement came from the post master general. That news came from Demacracy Now.

[centervilletn]

rumor is the post office is planning on letting 40,000 employees go..early retirement and layoffs...this year...

[cowboycarl04]

I'm not a fan of violence, but I must steal George Carlin's idea and run with it:

kill one banker each week on TV and then you'll see this economy shape up pretty quickly!

Carlin's idea was to kill bankers instead of jailing the drug addicts, because drug users are not as afraid to die as bankers.

I think if we executed 1 of these Madoff's each week, we would at least have the cat out of the bag on the issue.

And political views aside, these bankers earned their executions...

[X340N3]

Does the state of California collect income tax?

[timelesstruths]

they should sell themself to canada instead of the chinesse

take care

[yeahSHEROCKS]

DEMCAD, that was a great update. This is what I would do to get the country back on track: Instead of using all that money for bailouts, I would use it to propose the American people to start a "self-sufficient" kind of life. Give all those families that agree a 1 acre piece of government land with a modest house, (utilities will be off-the-grid, water from a well, heat from wood) to suit the size of that family. The catch would be: plant and raise your animals for food. Training provided.

[CaligalinLibrary]

Let the potheads out of prison. That would help some.

[TheRedPriestofVenice]

1) I'd release all prisoners who are in for drug related charges.

2) drop all pending legal actions and investigations for drug related offenses.

3) cut all frivolous state expenditures such as funding for arts, cultural projects and recreation.

4) cut salaries of all state employees making over 70K per year and cut all non-essential state jobs.

Arnold should also refuse his salary since he ran a recall of Grey Davis & trashed him for not fixing the budget.

[aquapurity]

cut taxes. period. it's taxpayer money. when Ron Paul ran he was famous for pointing out that if we just abolished income taxes the bloated federal government would have to operate on a revenue equivalent to the year 2000. way to go democrats... let's spend ourselves into oblivion. let's grow the federal government unceasingly so that you can enforce your ideals rather than defending liberty. please give me more handouts and take care of me forever thanks.

[hermbilliamherm18]

Tough question I'm not sure I have an answer for that. I will say that it's ironic that the government can bail out the rich, but the average taxpayers are left out to dry. I am not for any kind of bailout though! I think that the bailouts are just a drop in the water compared to what the unregulated federal reserve is doing. Thanks for the post!

[centervilletn]

oh yeah and discontinue all air polution standards for the durration of the depression

[centervilletn]

how would i deal with this crisis-as far as "state and federal services are involved"

only fund Roads, social security retirement, passports and military. Sell 90% of government held realestate...discontinue all federal issueance of licenses to drill oil or mine. give that regulation power back to the states.hell back to the communities where the activities are taking place..that would be a good start...

[machinenation]

Ireland gets some Subway jobs?? Weyhey - let's eat our way out of a recession over here.

I think everyone in the Western World is going to have to downsize themselves now - we've been living off Asian work for too long and now they won't continue to pay forever.

Downsize everything.  Give welfare which covers the basics, promote education. Trust people. People need to unspoil themselves but this will take time.

We need a bit of nature to go back to.

[centervilletn]

california is involved in things government has no business being involved in...and now WE are going to have to pay for CALIFORNIAS services...isnt that taxation without representation? REVOLT that should be the cry..get out your pitchforks and torches..dont forget your rope

[doobsta]

California should be sold to china for 1.9Trillion. I mean, the US did borrow to build up a huge military, go to war and give banker bailouts have huge wiild parties on everyone elses dime ect ect...

I know it wont happen but why not pay some of that cash back?

Maybe china would even slowdown some of the police state issues americans are facing today.

If america continues like this china will be the model of a free country to aspire to...

sad....

[1989kirby]

cut services. but add some police

[vdveindhoven]

it's raining, it's raining

i would make more people service workers for the goverment and use the tax as a part of the salary, and cut some public spending

only focus on the people and try to sure them for living/healtcare and safety

no money ok, everyone the same pain

we MUST work together (and maybe with other leaders)

trailer/big tent is stil human and decent way of living

[davincij15]

cutting back is a hard thing to do. Consider yourself doing it. You live in a house and pay $3000 a month, you can move to a small home and pay $1500 for rent but that will reduce your standard of living. If you say so what, just do it, consider your self downsizing to a tent or trailer out side. You can do it but would you want to, and how would you feel?

The same goes for a state or city.

[Guiatuss]

Lil things: no cell phones for city workers; 0 bonuses..Unfortnately, using ppl like Citi & others, we know that cities never cut to bare necessities; they continue spending as if fed bail coming.

[gow75]

i know your late but they just annouced another 10k jobs as of thursday more to come.

[ShionShinRa]

Oh BTW great video, I love what you have to say. Keep up the great work. =D

[ShionShinRa]

Back when Bill Clinton was president, our economy was good. BUT NOT BECAUSE of Bill Clinton.

Bill Gates was the one to save our economy during the 90's

We just need another technology boom. The government is always inventing things. I'm sure they have something they can profit off of, which will open new jobs and a better way of life for us, like the Internet and computers did back in the 90's up into the new millennium.

[Guiatuss]

Cali cities should have 4 day wks for many offices, including all schools. No city vehicles for nonessentials. Important: Encourage entrepernuers to start businesses; ie Silicon Valley

[Guiatuss]

Citizens should be in the street to demand overhaul ASAP! If apathy is rule of day, gov't wins. All gov't have huge pork waste; will mean jobs, but time to downsize. Default on tax cuts to companies..

[elgringote3]

Subway to create 7000 jobs! What do you want on your sub?

[sailfished]

The sooner that the people come to grips with the fact that the party is over the sooner they can make the hard choices that are inevitable, what is the option? there are stages of grief that are predictable when dealing with loss. To delay the acceptance will only prolong the agony . God bless ,good luck, peace.

[keepinthfaithlastday]

we knew this was coming, now we watch the dominos fall one by one. the start of birthing pains. i dont know what Cali should do honestly. they designed the system 2 crash. just pray people wake up

[SafeArmsReview]

819 billion wow - the next bailout right around the corner will be about 900 billion. the bailout for the banks is expected to be about 4 trillion.

all this is doing is pouring gas on the fire.

[EarmarkAudiology]

So sad...people paid taxes all year...overpaid and now can't get back their money? So shitty. You better pay your taxes on time or the government hounds you.

[sthrnynk]

Some of the smaller companies are not hiring when someone retires. The small company that I work for lost one employee two months ago, is about to lose another, and is not hiring to replace them.

[UTubeConspiracy]

The Govermments should cut down in spending and size. Not going to pay TAX refunds. Next people will refuse to pay their taxes for fear of not getting a refund.