In this photo provided by his press office, California Gov. Arnold Schwarzenegger signs an order creating the Public Employee Post-Employment Benefits Commission in his hospital room in Santa Monica, Calif., on Dec. 28. (click here)
Has Ahnold been able to stimulate jobs and an economy in California?
NO.
Current California unemployment rate is 7.7% (click title for information).
Why?
Because the economic depression across the USA has anchored deeply into every state's economy and without state sponsored economic rehabilitation there WON'T BE A RECOVERY. The ONLY way out of this economic depression and I'm sorry but with some states reporting 10% unemployment rates, some registering over 5% in the month of September alone, this is a DEPRESSION with nearly every investment bank gone and consolidations and mergers eating up the infrastructure. This is an economic depression.
The INFRASTRUCTURE the Republicans are relying on to reduce taxes to stimulate growth and jobs DOES NOT EXIST. The USA, including California, has to rebuild its infrastruture. The economic policies of Schwarzenegger have failed and failed royally and he actually believes a temporary sales tax will turn the corner on his budget short falls. Whom exactly is going to pay that sales tax, visiting Europeans spending Euros.
We need a Democrat in the Executive Branch along with a Democratic House and Senate to take back the country and return economic viability to an American landscape that has all but disappeared !
California's single-family building permits drop 60% (click here)
Apartment demand lifts multifamily starts
By Inman News, Friday, March 28, 2008.
Single-family housing starts, as measured by building permits issued, plunged 59.8 percent in February compared to the same month last year, the California Building Industry Association trade group reported this week, and total housing starts dropped 27.9 percent.
CBIA reported 2,540 total single-family building permits issued in February, compared with 6,326 permits issued in February 2007, according to building-permit data supplied by the Construction Industry Research Board, a nonprofit research center.
Multifamily building-permit activity, meanwhile, rose 35.8 percent year-over-year in February, according to the report, with 4,315 multifamily permits in February 2008.
Single-family permit activity dropped 5 percent in February 2008 compared to the previous month, while monthly multifamily building-permit activity rose 112.2 percent compared to January.
The increase in multifamily construction was expected because of an increased demand for apartments, said Alan Nevin, CBIA chief economist, in a statement.
He also said that federal actions to increase the conforming loan limit and reduce the federal funds rate could "gradually induce activity in new-home production."
The Los Angeles metro area led in permit activity with 1,635 housing permits issued in February, followed by the Riverside area with 973 and the Anaheim area with 906, according to the report.
