Everyone knows how upside down the State Government is in California. They had a huge budget deficit and had problems getting their new plan of taxes and spending cuts to cover the huge revenue shortfall. No one takes notice that jobs which create tax revenues are departing the state at a much higher rate than any job "creation" that is may or may not be happening as a result of federal "stimulus". The state unemployment rate is tied with Oregon for the 4th worst in the Nation (at 12.2% for August the last month for which statistics are available).
Then we have this story out of the Golden State: "Los Angeles, Are You Ready for Some NFL Football?"
Gov. Arnold Schwarzenegger said he's going to sign an environmental exemption bill that will clear the way for construction of the LA Stadium.
State senators approved the bill, which would nullify a lawsuit over the project's environmental impact report by citizens in neighboring Walnut, Schwarzenegger is expected to sign the bill in support of the stadium because its impact on the local economy and its ability to generate jobs.
There will be more than 6,700 new jobs created because of the stadium, causing an addition $21 million in new tax revenue and $762 million in new economic activity, according to an LA Stadium spokesperson.
You ever wonder how stupid these people are. I sure do!
This same legislature denied the Oil and Gas industry the opportunity to go after existing oil and gas deposits both on and off shore. I am talking about oil well taps that are already in place and the very same senate that is approving the wholesale ignoring of environmental rules and regulations for a Football Stadium claims that any 'new' oil or gas recovery will unduly harm the environment.
The hypocrisy is so deep here it is not even funny. Good high value jobs created by the oil and gas industry are far more permanent than the construction jobs for a football stadium.
On top of this, the city has no one to put in this stadium, they have to go out and move a team here from elsewhere. Not that really makes sense, especially if you poach a team from one of the other California cities.
How rich would that be?
BT: Jimmy T sends.
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