Community | December 25, 2009 | 5 comments

Schwarzenegger Seeks Obama's Help for Deficit Relief

Image
bushama
Dec. 24 (Bloomberg) -- California Governor Arnold Schwarzenegger, anticipating a $21 billion state budget deficit, plans to ask President Barack Obama to ease mandates and minimums on social programs to save as much as $8 billion.

The Republican governor plans to seek the relief, according to a California official who asked not to be identified because details haven’t been resolved. Instead of seeking one-time stimulus money or a bailout, the most-populous U.S. state wants the federal government to reduce mandates and waive rules stipulating expenditures on programs such as indigent health care, the official said.

California is among states most affected by the economic recession. It has the lowest credit rating and recorded the nation’s second-highest rate of home foreclosures, trailing only Nevada. Unemployment peaked at 12.5 percent in October amid the loss of 687,700 jobs from the year before, when the jobless figure was 8 percent. Wealth declined as the stock market lost 40 percent of its value in 2008.

More at Link:
http://www.bloomberg.com/apps/news?pid=20601103&sid=aKc0QT2U7Gc0
  1. groups:
    Community
  2. tags:
    California,  Schwarzenegger,  Broke
  3.     
    |

5 comments // Schwarzenegger Seeks Obama's Help for Deficit Relief

  • jayrye
  • DeliaTheArtist
    • 0
      DeliaTheArtist  

    • DAMN IT social programs and things like that are always the first to get the axe. We're going through similar things in NY. I really don't think that "easing the mandates on social programs" is the most ethical or even most effective way for a state to relieve some of it's debt.

      It seems like there are two minds of the marijuana issue: Those that think it's just potheads who want to get high and those that see how truly beneficial marijuana and hemp can be. California is probably in the best position to experiment with recreational marijuana tax and things like that, they should go for it. Arnold isn't coming back anyway; LEGALIZE! Make that money! Save your state, make the activists happy and inspire other states to do the same!

    • 2 years ago
  • bailey78
  • idealist
    • 0
      idealist  

    • legalize weed Arnold, and you will legalize a huge profit margins. maby obama could make this happen before 2010 votes roll through.

    • 2 years ago
  • jayrye
more from Community:
from the community

top videos