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Schwarzenegger: Feds Should Give States Bailout Too
November 16, 2008 9:00 AM
In an exclusive interview with This Week, California Gov. Arnold Schwarzenegger told me he thinks the federal government should give deficit-laden states like California $5 billion a year for the next three years.
"I propose that we should get help from the federal government if we can again, also like the car manufacturers, prove that we have our fiscal house in order and that we can solve our problems ourselves but give us in this emergency kind of a situation or this crisis some addition money," Schwarzenegger said.
Schwarzenegger has called California legislators back to hammer out a solution to the state's runaway deficit of nearly $28 billion.
The Republican governor has proposed tax increases and spending cuts, but argues Washington should help too.
"Washington is collecting from California so much money," Schwarzenegger said on This Week.
"When we are in a state of emergency like this I think that Washington can give some of this money to the state... We're not talking about a lot of money but maybe $5-billion dollars a year for the next three years until we get out of this economic crunch that we're in."
--George Stephanopoulos
November 16, 2008 in This Week with George Stephanopoulos | Permalink | Share | User Comments (22)
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Capitalism is the declared domain of the GOP. but Capitalism is a form of natural selection. When winter comes, humans build shelters - not waiting to see who will survive the winter. ..........
http://thefiresidepost.com/2008/11/16/the-utility-of-socialism/
Posted by: Ohg Rea Tone | Nov 16, 2008 10:51:25 AM
Great interview/kudos to George and Arnold for real straight talk! - if this bleedingheart middle-aged liberal housewife loved it, the GOP would be wise to see Arnold's view of the future as a way out of the wilderness - thank you for such a direct conversation about our real issues.
Posted by: abql | Nov 16, 2008 11:24:57 AM
Where does Arnold think the Federal government is going to get the money to bail out everyone?
Posted by: ellsbells930 | Nov 16, 2008 1:58:42 PM
where is it going to end. every one has there hand out for a piece of the pie. the only ones that will end up with nothing are the tax payers. who do i contact to get a piece!!!!!! idon't expect a response.
Posted by: mike battalio | Nov 16, 2008 2:17:41 PM
hmmm
Posted by: cranium | Nov 16, 2008 5:18:25 PM
everyone in california needs to run. run for their lives. the fire is burning objects, sooner they will burn. ask jesus to help. talk to him. or come to the state of utah. your welcome there.
Posted by: cranium | Nov 16, 2008 5:20:32 PM
We need to stop all the bailouts NOW - if a company or government can't function on a budget then they shouldn't get help from others, they should cut costs until they can pay for what they have. Building should be functional not fancy, workers need to work hard and not expect so much, just be glad to have a job. We worked hard all our lives, only bought what we could afford, and it is time others and govenment do the same.
Posted by: pbatrs | Nov 16, 2008 8:52:04 PM
Oh Geez, No more bail outs. Especially for spend spend spend liberal states.....the housing bubble was no surprise especially to California. Stop spending so much........you can start by getting rid of overpaid burecrates and all those illegals soaking up medical and welfare money by the billions. Grow up California.
Posted by: chattyway | Nov 17, 2008 2:25:36 AM
Arnold has done such a great job with California! Look at the mess they're in. But of course, he has the answers. Maybe he should stay outta the gym and try to exercise his brain.
Posted by: scott | Nov 17, 2008 5:40:58 AM
Come on! I've always like Arnold, but he's way off base with this. Calif. and many other states have NOT reigned in their spending plus, they want the federal government to bail them out because it is cheaper then their traditional refinancing plans. Increasing taxes is not always the answer to the problem - sometimes getting tough and cutting spending has to come first even if that means finding more creative ways to cut spending in schools, law enforcement, etc. Other, more fiscally conservative states are doing it - Calif. should be forced to be more creative too.
Posted by: Thyme Again | Nov 17, 2008 12:33:49 PM
He was well known as an actor, but he didn't really become a *STAR* until the Terminator pictures. Since Hollywood loves a sequel, let him repeat that role one more time:
"Terminator 3: The Budget Wars"
"Watch the horror as the Governator slashes budgets and tightens program eligibility standards! See illegals and welfare cheats writhe in agony! Delight in the vicious battles between the Governator and the Liberal Machine! The finale is such a shocker that it will not be revealed until the very end!"
Hey, it could happen.
Posted by: Walker Evans | Nov 17, 2008 1:11:15 PM
Arnold, one of the first to buy a HumVee...this shouldn't surprise anyone.
Posted by: Hege! | Nov 17, 2008 2:05:47 PM
Who is going to pay ALL this money back that the States whats the Federal Government to fork over?? can we all say TAXPAYERS. Is he off his rocker, maybe if the states would stick to a budget and control their spending then they would not be in this mess. I as a taxpayer get tired of bailing out everyone, pretty sooon the ship is going to sink because of all the crap in the boat. Most americans have to stick to a budget, you do not see us asking for a bailout as if we would recieve one...lol....pffft
Posted by: TonyNCindy | Nov 17, 2008 2:06:00 PM
The governator only has his job because Californians were mad over the huge budget deficit Gray Davis racked up. Schwarzenegger promised to rein in spending and fight the unions to reduce the deficit. Instead, his propositions lost and he became another tax and spend socialist.
There's no way California should get bailout money. There's plenty of cuts that could be made. Their in the whole because the socialists in Sacramento care more about doling out money to the poor illegal aliens than they do helping the businesses of California. Companies and jobs are fleeing the state.
Posted by: julian | Nov 18, 2008 2:21:41 AM
arnold and the state legislature have not implemented spending cuts. no one should receive any bail out monies without strict oversight on how monies are to be spent. in california, wondering if the legislature has cut back their salaries, per diem, cars, etc. are state workers being laid off, are salaries being cut, bonuses eliminated, travel curtailed, are cut backs taking place in all departments? the nation is burning and all elected officials are doing is playing their fiddle.
Posted by: Lawrence | Nov 18, 2008 4:23:04 AM
arnold and the state legislature have not implemented spending cuts. no one should receive any bail out monies without strict oversight on how monies are to be spent. in california, wondering if the legislature has cut back their salaries, per diem, cars, etc. are state workers being laid off, are salaries being cut, bonuses eliminated, travel curtailed, are cut backs taking place in all departments? the nation is burning and all elected officials are doing is playing their fiddle.
Posted by: Lawrence | Nov 18, 2008 4:23:05 AM
do you notice the cities that need bailouts..SF NYC Detroit etc...ALL HARDCORE DEMOCRATIC cities... all bloodsuckers, lazy welfare mentality....
Posted by: Jimbo | Nov 18, 2008 6:51:01 PM
Just 5 billionover three years. Hey its not much money. Right. Arnold was never a republican, but merely another money sucking liberal. CA and their liberal government spent themselves into the mess they are in. Now they have to live with the consiquences of "feeling" instead of thinking. Can you say cut entitlement programs. i can, they probably can't
Posted by: skleepit | Nov 28, 2008 12:02:16 PM
Do you know how unbelievably tired I am of doing the right thing, only to end up having to pay for other peoples fiscal irresponsibility?
When I went to school, (even with my Vet benefits) I would have a choice every semester of either paying tuition or having my lights turned off. I paid tuition and lived with not having lights, refrigeration, of air conditioning during Texas summers until I got my loan check.
I now make around $80K a year, because I fought for that degree and I've busted my tail in the workplace. I could have purchased a nice, large, brand new house, but instead decided to live within my means and bought a $115K cottage. My credit card balances are paid off monthly and my car is paid off. I have a credit score in the 800s because I don't by what I can't afford.
It seems like me and people like me who have taken their responsibilities seriously are now going to be required to take on the load of the others who didn't and it makes me sick. If you don't believe we are all going to pay for it one way or another (higher taxes, higher inflation, etc.), think again.
I'm fed up with it, this idea that my dime should be used to save you. If your state wasn't fiscally responsible, screw your state. You took out a high risk mortgage so you could live the high life in a house you couldn't afford? Screw you. You leveraged your business with high risk securities? Screw you. If you were a bank, you should have told the feds where to stick their CRA in the mid-90s. You're getting what you asked for. High risk, high reward, high consequences...now live with them. If you got laid off...hey, I'm behind you. If you were just living beyond your means? Forget about it, you can take your consequences.
Me and a lot of others lived their lives right, not thinking that we were entitled to anything or that things just grew on trees. The idea that we are now being asked to perpetuate the concept of "I'm entitled because I take up space" is ridiculous. That goes for states too.
Posted by: Mike in SA | Nov 30, 2008 12:26:08 PM
Well said Mike. Here in Texas we welcome all Californians to come here and take a job away from an illegal alien.
After you drive one to the border!
Posted by: Tom | Dec 2, 2008 12:33:45 PM
if you have half a brain you're already outraged by the article you just read, do yourself a favor and don't read these comments!!!!
Posted by: Christa | Dec 12, 2008 3:07:02 PM
NO BAILOUT FOR DECADENT CALIFORNIA!
STATE EMPLOYEES CAN RETIRE UNDER 50 AND THEN COLLECT FULL PENSION, I.E. 100% OF THEIR WORKING SALARY!
Posted by: Joe Smith | Feb 15, 2009 12:27:12 PM
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