To: RetiredNow who wrote (544237 ) 1/16/2010 1:22:03 PM From: longnshort Respond to of 1574809 Global Warming "Solutions" put a knife in California's economy. Watch and learn as the state self destructs... Bad things come in three's It's shaping up as a bad season in Sacramento. A legislative committee this week killed a badly needed bill to overturn the Draconian AB32 – the 2006 Global Warming Solutions Act – with its onerous costs and regulations that will punish nearly every sector of California's economy, certainly aggravating already dire conditions. Another committee voted to impose yet another tax, a 12.5-percent levy on extracting oil and natural gas that will drive up fuel costs and discourage energy production while at least 12.3 percent of Californians are out of work. To cap the trifecta of woes, state Legislative Analyst Mac Taylor said California has virtually no chance of getting $6.9 billion from Washington, D.C. Not that a bailout is a good idea, but Gov. Arnold Schwarzenegger is banking on it to partially fill a $19.9 billion budget deficit over the next 18 months. Can things get worse? It's only January. California already is one of the most regulated and heavily taxed states. For years the governor and Legislature have played fast and loose with finances, moving money from where it was intended to be spent to shore up deficiencies elsewhere. The Legislative Analyst's Office repeatedly complained about the governor's optimistic revenue and savings projections. This year, Mr. Taylor said it's "very unlikely" Washington will rescue California. Meanwhile, full costs of implementing the Global Warming Solutions Act are yet to be felt as bureaucrats draft regulations that will devastatingly burden businesses and consumers, according to a Sacramento State University study. The study estimated $52 billion annual costs to consumers would result in $149 billion of lost output, and $63 billion costs to small businesses would result in $182 billion of lost output. Those hardest-hit, the study said, will be professional services, manufacturing, arts, entertainment and recreation sectors. That translates to about 1.1 million jobs in small businesses... Rest of the editorial at..ocregister.com