"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest [the U.S.] become bankrupt. People must again learn to work, instead of living on public assistance." -- Cicero, 55 BC and the brackets should actually read "Rome."
"There are two ways to conquer and enslave a nation. One is by the sword, the other is by debt." -- John Adams
This is truly an American tragedy
California Governor Arnold Schwarzenegger said a make-shift tent city for the homeless that sprang up in the capital city of Sacramento will be shut down and its residents allowed to stay at the state fairgrounds.
Schwarzenegger said he ordered the state facility known as Cal-Expo to be used for three months to serve the 125 tent city residents, some of them displaced by the economic recession. The encampment may be shut down within a month, said Sacramento Mayor Kevin Johnson. The move comes after the Sacramento City Council last night agreed to spend $880,000 to expand homeless programs.
“Together with the local government and volunteers, we are taking a first step to ensure the people living in tent city have a safe place to stay, with fresh water, healthy conditions and access to the services they need,” Schwarzenegger said in a statement. “And I am committed to working with Mayor Johnson to find a permanent solution for those living in tent city.”
California, home to one of every eight Americans, has been particularly hard hit by the housing market collapse after many residents turned to exotic mortgages to afford homes. The tent city, which has long existed along the banks of the America River, gained national attention last month when some of its recently homeless residents were featured on the Oprah Winfrey Show.
The state has one of the highest rates of foreclosure, according to RealtyTrac Inc., an Irvine, California-based seller of real estate data. California home prices dropped 41 percent last month from a year earlier, more than double the U.S. decline, as surging foreclosures drove down values, the state Association of Realtors said today.
The state’s unemployment rate rose to 10.5 percent in February, as construction, financial and manufacturing companies eliminated jobs, leaving the most-populous U.S. state with one of the nation’s worst job markets.
The shelter at Cal-Exp currently houses about 150 people. It will be expanded by another 50 beds, and will include facilities for families with children.
This is shameful.
This is the direct result of American irresponsible monetary policy. This is not a result of corporate greed - it is a result of many decades of easy credit - and allowing people to use their homes as ATM machines. It is the result of the housing bubble and dot com bubble and every other bubble created by the Federal Reserve and Fannie Mae and Freddie Mac and every other useless government agency that failed to do its job (or shouldn't have been established in the first place).
It is a result of California creating an entitlement state and paying for services for people who do not pay into the system, all on the backs of hard working taxpayers. It is a result of so many restrictions on business that it chased good business out of the state, and even out of the country. It is a result of high taxation and destruction of wealth.
This is what Americans can look forward to if we continue along the path we have been traveling. This is what will cause an uprising of the people - and it is the face of Hope and Change also known as Socialist policy and dependency on government. It is leading us to a very dark and scary place.
That people have no jobs and no homes and are made to sleep in tents is a testament NOT to California's failing to provide for its people, but for its failure to let people provide for themselves.
Can all of our State and Federal legislators all please take a close look!!! California is reaping what it has sown. Stop the insanity and create the environment that will allow business to thrive and put people back to work, not just in California, but across the country!
We don't need bailouts.
We don't need handouts.
We don't need social programs and dependency.
We don't need more regulations and unenforceable laws.
We need business, we need jobs, and we need honest investment.
We need private business, not government jobs paid for by increased tax dollars.
Don't you get it?
Or has Atlas Shrugged?
Who is John Galt?