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20000 Job Cuts And 200000 With Pay Cuts

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Arnold Swarznegger lives up to tough guy image by signing the order that will save $100mn a month in an attempt to get the states $15bn deficit under control.

20000 public workers sacked.

200000 public workers given pay cuts.

California's property market has a long way to fall yet.

Will we see the same tough stance over here? Not likely, but we sure aren't going to see massive wage inflation as a solution to our own property crash.

(PS - no link. Just heard it on the World Service headlines)

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(PS - no link. Just heard it on the World Service headlines)

It was just on BBC News 24.

Only they say 22,000 sacked.

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Arnold Swarznegger lives up to tough guy image by signing the order that will save $100mn a month in an attempt to get the states $15bn deficit under control.

20000 public workers sacked.

200000 public workers given pay cuts.

California's property market has a long way to fall yet.

Will we see the same tough stance over here? Not likely, but we sure aren't going to see massive wage inflation as a solution to our own property crash.

(PS - no link. Just heard it on the World Service headlines)

If I understand correctly, the individual U.S. states are not allowed to go into deficit.

So (unfortunately) countries can go into worse debt. No control until financiers say no.

Reality hitting though, for the U.S. states and counties and municipalities.

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http://news.bbc.co.uk/1/hi/world/americas/7536486.stm

Governor Arnold Schwarzenegger of California has moved to end a budget crisis by sacking 22,000 state workers and ordering pay cuts for 200,000.

The most populous state in the US faces a budget deficit of more than $15bn (£7.6bn), and legislators are struggling to agree a spending plan.

The cuts, which will save $100m a month, are designed to put pressure on politicians to end the budget crisis.

But a leading official in the state challenged the decision to cut pay.

California has one of the largest economies in the world and it has no way to pay contractors for many of the services it provides.

Some 30 American states face budget deficits caused by rising costs and falling revenues in a slumping economy but California's is by far the largest.

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  • 395 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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