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Comments about ‘Stockton, Calif., to file for bankruptcy protection after talks with creditors fail’

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Published: Wednesday, June 27 2012 11:30 a.m. MDT

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Rifleman
Salt Lake City, Utah

Where Stockton goes today the State of California must surely follow. That liberal state is over $40 billion in debt and will spend $16 billion more this fiscal year. What liberals refuse to understand is that when you borrow money you have to pay it back ..... with interest.

My sympathies go to the vendors and service provides that Stockton owes money to. Maybe Stockton could ask Obama to get Utah taxpayers to bail them out.

Shawnm750
West Jordan, UT

Yeah, California is a mess! I can only imagine how many other cities in that state are near the same point as Stockton is. California is looking more and more like Spain every year. Pretty soon there'll be a land grab with California become annexes of Oregon, Nevada and Arizona...

don17
Temecula, CA

To Rifleman:

We tend to agree on most points. But, I would like to make a couple clarifications. California owes over 400 billion not 40 billion so I assume this was just a typo. The 16 billion number(raised from 9 billion a month ago) will rise again by November's election as sales tax receipts will fall short again this quarter. The estimated shortfall by November will be 20 billion!

If that number sounds familiar it is the same number as last year. The State Assembly put a plan together again with smoke and mirrors so they could get paid! But, did nothing to fix the real problems.
1. 40 percent increase in state employees with no growth in population to warrant it.
2. 4 Billion for the High Speed rail debackle. That 4 billion will increase to 40 billion just as the plan started at 40 billion and is now at 219 billion. Obama and Brown want this though it is clear it will never make money.
3. California's proposed rise in Income Tax from 9.5 percent(making over 46k)to upwards of 13.3% will drive thousands of more employers and high income earners out!

Rifleman
Salt Lake City, Utah

Re: don17 Temecula, CA
"We tend to agree on most points. But, I would like to make a couple clarifications."

I didn't realize it was that much. I do know that California voters recalled Gov. Gray Davis because of his mishandling of their finances but apparently have a short memory. Too bad they didn't follow Wisconsin's lead and put a leash on the public employee unions.

Mountanman
Hayden, ID

Wisconsin’s economic successes versus California’s economic problems! Are you liberals learning ANYTHING yet? Probably not!

Hutterite
American Fork, UT

The biggest problem in stockton and so many other governments is pensions. Governments somehow could take workers contributions and spend them, simply assuming there would be more and more workers in the future to pay for obligations at that time. Actual pension funding never existed. It's behaviour that would get most people in the private sector arrested. Now they have to renege on commitments made to retired workers and that's not good, either. I don't know what the resolution is going to be.

Rifleman
Salt Lake City, Utah

Re: Hutterite American Fork, UT
"I don't know what the resolution is going to be."

The Republican Governor of Wisconsin, Scott Walker, has the idea. He put a leash on public employees and told their unions that the free ride on the gravy train was over.

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