Dec 05 2008
California, out of money
I need a bit of help here in understanding how does a state go broke and what happens to the state when it does go broke?
What happens to all of the people who are on aide and the elderly, this is not making a lot of sense to me, even though we should not be surprised at all about this news, we have the highest rents and everything else ,however the wages do not cover much.
Everyone is helping the homeowner’s what about the regular people who pay rent? What are we doing for them? I do not hear anyone saying come to the 4th floor and we can help you pay your rent or buy some food for your family.
There is no getting ahead and it is not getting any better, the homeless rate is growing in our state and who is to blame? The people still go to work each day, however they just do not make enough to pay rent and buy food so they have to make a choice and do what is best for their children and in the long run no one wins.
Many people are reading this and saying or thinking to themselves, they can do better if they worked or if they did not drink and do drugs, it amazes me how no one wants to take responsibility for the way our State has been run to the ground and the regular normal every day 2 and 4 job working people are looked over, however the people who signed loans knowing they could not afford the homes are getting help and the pity party.
Give me a break people!
Not everyone that is a homeowner that is behind on paying their mortgage is behind due to being ripped by the real estate agent, I find it hard to believe that everyone was so fast in signing paperwork that they did not read it over before signing it, yes there are some valid cases out there and I feel for them, however, I refuse to feel sorry for people who just were greedy and worked with the bank to get them in to the homes they are in that they KNEW they could not afford.
So tell me what is next? I also need to know how do cities file bankruptcy? How does it get to that point.
Here is some more food for thought,
It was announced that the state funded program for the free and reduced lunch has no money to pay the schools, they are broke… So who is going to provide food for the children going to school? I mean it is really not healthy food nor does the meal cost that much to provide with what they are feeding these school children,
Left over food from the fast food restaurants and a half of an orange is not a nutritional lunch.
more food for thought,
All of the money they say the state lottery gives to the schools of California? Where is the money? On the Big Spin that comes on every Saturday night they announce how much they give to the schools, can we get some accountability here, someone is not telling the truth and the children are suffering due to it.
So we will wait and see what happens to California since in February of 2009 we will have no money to run the state.
Anyone have a job for me and can pay me 14.00 an hour and give me 40 hours a week with weekends off? if so please post a comment and let me know where to send my resume.
Wow! that helped a lot, we need to all be able to let it out, please do send me your offers if you do have a job opening, I am not afraid to ask cause people I NEED A JOB.
It is an awful broad stroke for you to blame all of these people for getting into mortgages they could not afford. Many like in our case were a two parent family that both had very good jobs. We did the things were supposed to do, we had a cash reserve of 6 months built up. We both had short & long term disability. However that did not protect us when I was injured at work.
It has been two surgeries and three years later and I am still unable to work. While yes I am receiving WC benefits they are only 60% of my former pay. I would love to be able to go back to work but with the injury that I have they may never be possible. How do you plan for something like that? To add insult to injury my office that I worked in when I was injured shut down so I lost all of my benefits on top of everything else.
We were not living beyond our means and we did not live “high on the hog”. We were responsible people who always tried to do what was right. We got into a ARM with our first mortgage. We were approved for about 200K and in our area that would be a very nice home. However just because the bank told us we could borrow that much it didnt mean we could afford. Knowing this we went for a more modest house in the 130K range. The ARM was a way lower interest rate so we bought into it. We had the mortgage guy telling us the whole time not to worry in 6 months we would be able to refinance for a fixed rate. Well needless to say that didnt happen because of this injury and we got sucked into another ARM to avoid our mortgage payments going up by 450.00 in one shot.
Not everyone who got into this mess did so by trying to live beyond their means. Circumstances change for people all of the time, loss of job, loss of health insurance, downsizing etc. Even if you are well prepared for a financial emergency as we were, having the cash reserve and short term disability and long term disability no one truly expects to
be in the situation that we are currently in. It is exceeding hard to make my mortgage payments but we do the best that we can.
We pay the mortgage and we pay the utilities and food. Everything else gets paid as we can. So you may want to think about the reasons people are ending up this situation. Your judgement is rather harsh.
Stephanie,
Sorry to hear about your injury, I am also an injured worker so I can understand what your are going through , however that was not the jest of the article and I hope that you have read more then that part.
The article is about how everyone needs help not just people with mortgages, if we are going to help one type then we should help ALL.
I will keep you in our family prayers
Once again there is more to this article then a mortgage.
Judgement? Expressing how one feels is not judging people and that is a whole other posting and since you have never lived in my shoes or my families you do not know the meaning of the word “JUDGEMENT”.
Regardless, Thank you for your comments I enjoy reading all of them and it is good to know their are people out their with blood running through their body! I wish you well!
What about the state going broke in 2009, the cities going bankrupt?
Can I get some feelings on that Please?