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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Terry Maloney who wrote (407723)	7/6/2010 10:42:54 PM
From: Real Man	Read Replies (1) \| Respond to of 436258

Probably not, and we all know how budget deficits appear when bubbles collapse, especially twin bubbles. Can't claim it all on "stimulus" - Bush's tax cuts, Obama's spending. Sagging capital gains revenue vs growing government spending is usually the only cause. California is not at war and does not have the Army, and neither does Nevada or Florida. Thank God. -g- Nevertheless, these three States are broke, along with the rest of them. Bush just enacted tax cuts to revive the Zombie economy, which only functioned well for a while due to the housing bubble. However, budget deficit soared prior to that due to sagging tax revenue from capital gains. You can toy with the numbers and get what you want if you really want to prove something? In particular, it's rather peculiar there is no budget deficit without the items they claim to be "wrong" That is my prime suspect, credibility wise. It has to be non-zero if they have any credibility whatsoever.