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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (84431)	10/29/2010 3:37:24 PM
From: manalagi	Read Replies (2) \| Respond to of 149317

I am a lifelong Republican. Even George W and Laura Bush sent an autographed picture personally addressed to me and my wife. Nevertheless, we have sent our absentee ballots giving our votes to Jerry and Barbara. They got our votes as anti Whitman and Fiorina. We definitely don't want the last two ladies messing our beautiful states and are taking chances with the candidates from the other party. Now, that tell you something about the two former CEO's. Look, the economy is recovering, the 401K's/403B's are appreciating, what is there to complain except our involvement in Afghanistan?

To: Jim McMannis who wrote (84431)	10/29/2010 3:53:18 PM
From: tejek	Respond to of 149317

I'll explode in anger if FLA doesn't implode.

To: Jim McMannis who wrote (84431)	10/29/2010 5:12:57 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 149317

"will Obama bail out California?" Of course not. We don't need it. Maybe he'll bail out Texas, tho. That'll make me explode in anger, fer sure. Budget Problems Deep in the Heart of Texas dallasnews.com. (Texas) Legislature likely to cut deep to meet possible $25 billion budget gap AUSTIN – Texas faces a budget crisis of truly daunting proportions, with lawmakers likely to cut sacrosanct programs such as education for the first time in memory and to lay off hundreds if not thousands of state workers and public university employees. Texas' GOP leaders, their eyes on the Nov. 2 election, have played down the problem's size, even as the hole in the next two-year cycle has grown in recent weeks to as much as $24 billion to $25 billion. That's about 25 percent of current spending. The gap is now proportionately larger than the deficit California recently closed with cuts and fee increases, its fourth dose of budget misery since September 2008. = I talked before about "Net Export Math" and government budgets, especially state & local. Just as oil exporting countries, showing falling production, generally have a net export decline rate that is in excess of their production decline rate, the pattern that we will tend to see is that the rate of decline in government aid and services to citizens will exceed the rate of decline in government revenue. Take Texas as example, and let's assume two year projected spending of $100 billion versus projected revenue of $75 billion. For the sake of argument, let's assume that $50 billion in spending is non-discretionary and can't be cut. Under this scenario, a 25% reduction in revenue would result in a 50% reduction in discretionary spending (primarily aid and services to citizens). westexas (Jeff Brown of Peak Exports fame) on October 25, 2010 - 9:30am theoildrum.com