States face a cumulative budget gap of $127.4 billion as 46 prepare for the start of their fiscal year on July 1, according to a report this month by the National Governors Association and the National Association of State Budget Officers. They will have to fill that hole largely on their own, as aid from the federal government under programs including President Barack Obama’s $787 billion stimulus package starts to wind down.
State and local cutbacks may trim growth by about a quarter percentage point in 2010 and 2011 after shaving it by 0.02 point in 2010, said Mark Zandi, chief economist at Moody’s Analytics Inc. He also sees the governments lopping payrolls by 200,000 during the next year after reducing them by 190,000 in the 12 months through May.
The budget cutting that is dead ahead will be a significant impediment to economic growth later this year into 2011,” he said in an interview.
More Here..
SUNDAY NIGHT LATEST ON OIL SPILL:
Here's the newest Veritas Special Report (with James Fox). Recorded just an hour ago...
1. BP is now spraying dispersants at night and on top of populated areas.
2. BP is using Wackenhut as their security company to harass/threaten the media.
Non!
ReplyDeleteEsta shill! Esta shill!
Oboomer say RECOVERY
CNBC say RECOVERY
Geither say where the warm bo -- er RE-COVERY
Lack of tax revenues
Can be explained
Somehow
Maybe by not connecting it to anything
Tax revenue vacuum
Nobody know why
We're recovering
Dammit
Pinche gueros
STOP THE LIES
TIVO THE REVOLUTION
Cabrones
BWDIII with a plan OUT yo
Is this Wackernut going to start running photographers off the road and sniper them from afar?
ReplyDeleteBP cares far more about their PR than they do about stopping the gusher or helping any of the victims.
ReplyDeleteReminds of AT&T in the late 80s. Their service was horrible, but 3/4 of their budget went to PR/advertising convincing people (successfully) that they were the greatest thing since sliced bread.
Hiring private thugs is par for the course for these criminals. Just like the Blackwater thugs used in Irag.
ReplyDeleteThese chemicals smell like corrosive battery acid? They are pouring this stuff along the coastlines to try and keep the oil from rising to the surface?
ReplyDeleteGoldman Sachs sold off 44% of their BP shares right before the platform explosion (accident my ass).
The criminals have been very busy.
The purpose of these chemicals is to try and HIDE the oil. Not collect it or doing anything about it. It is making the oil much more toxic.
ReplyDeleteMy guess is they are deliberately building themselves a gigantic cesspool of oil and toxics to release on the area via HAARP.
This is going to be big, big, big. An attack disguised as an accident.
I don't understand why the doom and gloom all the time. Look at the markets, they're booming. People are making big bucks left right and centre. How can this place still say there's going to be a depression when things are looking so good??
ReplyDeleteOh please 2:46 shill. Do you think anyone believes that nonsense? You are just making a fool of yourself. You should be kicked out of the shill program.
ReplyDelete3:30 ? Why? It's a legit question. Look at the markets! They're going up. Companies are reporting record profits. I don't understand why you all think there's a depression coming with the markets rising. Explain please.
ReplyDeleteAnyway, i still want to see the full birth certificate.
ReplyDeleteLike father like son?
I used to to suspect that the father of the Big O was was G W Bush BUSH 1
That the big O was Bush 111
He is just as stupid a puppet as BUSH 11
Now i supect it was Dick Cheney of the darkside
Americans will never be permitted to know .
As there are no differences between the parties party in power do the same thing protecting the criminal enterprise that is America .
Thats Democracy and American Freedom of choice and speech .
Bush 111 anyway whatever you vote for.
The wars for Empire and the bailouts for the corporations proceed.
Obama is free to say whatever he likes .
Americans are Free to believe it .
Their is not much money for the states as that would be cutting into the bailout money and the wars for Militasrism.
So stuff the states and their socialist claims Bush 111 reigns O.K.like father like son?
I was on the Veritas and it has Nazi on it. EA that site looks a little wack. You might want to do more due diligence before you offer what they have to say as gospel. And who the hell is James Fox. You google him and nothing. Does documentaries my ass. They just have no credibility. So it hurt the message even if there is some validity
ReplyDelete3:34 - There's many reasons we expect another depression. There's also a long list of economists who are predicting it, with charts to back up their assertions. The world's richest men are still buying gold while they advise others not to. The fundamentals of the economy haven't changed, the necessary corrections haven't occurred yet due to stimulus that we can't afford. The national debt is so high it will likely never be paid off, and our biggest buyers of our debt are threatening to cut us off, and have already decreased their purchases. That's for starters.
ReplyDeleteDT: Thanks for answering without abuse. I've been watching this for some time, and couldn't understand why, with all the bad news, the markets kept on creeping up.
ReplyDeleteIf what you say is true, then what's keeping the markets up? Is it false ?
I'm just confused as to what's going on, as this has been going on for so long now and nothings crashed anywhere near what people predicted.
I've got myself prepared though if anything should go haywire.
3:24 The market dropped 1000 in less than thirty days in May. Markets always go up and down. Presently it loses more than it gains. I know you are just trying to push some buttons and have some fun, but you really do need to mature up a little. You will find no help in a disaster with your childish behavior unless of course you are an innocent by being mentally deficient.
ReplyDeleteBush retired in the middle of no where TX. in a very energy efficient home with his Secret Service detail. His wife wanted to live in the big city, but George overruled her and took her to a secluded ranch. The ranch is next to an Airforce base which can get him to safety if needs be. George is no fool. He knew where everything is headed.
ReplyDeleteif you tell a lie long enough people will believe it
ReplyDelete"adolph hitler"
any more questions about market?
BP is spraying dispersants over populated areas? Come again? Populated areas out in the ocean? Give me a break!
ReplyDelete246 everything is looking so good, stock market went up 20 points after dropping hundreds of points, actually 14000 no making lower lows in the high 9's, homelessness increasing, joblessness at depression highs, cities collapsing, real estate at all time lows, savings at all time lows, two unwinnable wars going with about 3 and ww3 to come, millions in jail, failed war on poverty, failed war on drugs, failed war on terror, the top 2% own 70% of all wealth, the bottom 98% fight for the scraps, but hey the stock market that no one is in except for like 7% of the pop is doing ok, so that means all is well, you are a moron for sure a shill and a bad one at that, the kind of loser that really does live in his mommy's basement, GET A LIFE LOSER!
ReplyDelete5:12 The Stock Market is easily manipulated and people need to look at other indicators like:
ReplyDelete- how much sales tax states are collecting
- states cannot pay for unemployment
- inflation rate is higher look at packaging that is 20% less product for same price
- number of people on food stamps
- number of bankruptcies
- number of foreclosures
- number of jobs being lost or created
- number of bank closures multiplied by 10 or so to cover their branch offices
The stock market crash you are thinking about could happen over time or could happen in minutes. But the DEBT problem worldwide will probably not go away anytime soon. Best tp prepare and be safe rather than sorry.
Why would anybody expect to hear the truth from the government or wall street? They have their entire futures wrapped up in this system, if it goes down, so do they. They feed just enough negative news to keep some form of legitimacy, but if they really pushed the real numbers out, the "confidence factor" would vanish, and the steep downward trend would accelerate. Along with that, most American's don't want to face the pain and tough choices to get our economy healthy again, they want "theirs" and they want it now. The average voter in America is swooned by the best media blitz and most professional lies, we all know it, it's one big facade of crap, and it will go down the toilet like everything else in 2-3 years.
ReplyDeleteCompanies are posting profits because they have cut back as far as they believe they can, but millions are unemployed as a result. Spending is up a little bit, partly because many people have extra money because they can't pay their mortgage anymore, so they don't even try since it will probably be foreclosed on anyway.
ReplyDeleteMost of the good news you hear, there is bad news hidden in it. I've seen the same report on multiple sites with totally different headlines, both positive and negative. You can say stocks rallied today, but if they fell even more yesterday and will fall again tomorrow, it's not such good news. And usually when next month's statistic comes out, the last month's, which was portrayed as positive, will be adjusted to be more accurate, and that's usually a downward adjustment.
Then you have tax increases due to Obamacare, and a proposed Value Added Tax and many other types of taxes. They will be passed or go into effect soon.
That's just what I can remember at the moment.
Hey 6:20, I think Bush is really retiring in Paraguay, if I am remembering correctly.
ReplyDeletePerhaps he intends to privatize the water there or something.
Once the feds and corps. seize the damaged coastline by eminent domain, it will be hard to leave the U.S. in a strategic sense.
ReplyDeleteGo North, young men.
The Dutch offered to help us early on and someone said that even Iran offered to help us.
ReplyDeleteObama shoulda taken it when offered.
Hey 2:11 that's quite interesting.
ReplyDelete