could cut California's credit rating

⊙ newspaper reporter Zhuzhou Liang
dilemma
still room
informed sources for California's crisis, the U.S. government recently held a series of high-level meeting. Geithner,polo ralph lauren discount, Romer, director of the White House Council of Economic Advisers, White House National Economic Council, Lawrence Summers, who believes that California can rely on their strength of support for some time, it should solve their own budget rather than by the federal government assistance.


rating agency Standard & Poor's warned on Monday, could cut California's credit rating, which further seek bond financing for the state to bring a greater challenge. S & P said the California budget in 2010 if not for large-scale adjustment, may not be able to repay debt.


now it has come to California for the most Schwarzenegger's solution for more than 240 one hundred million U.S. dollars budget deficit plan, the California Assembly this week failed to reach consensus, which also makes money available in California may soon fall into the embarrassing situation.
declined to rescue
California Financial Officer Lockyer has warned that if California's economy collapse, do not say the world, at least to shake the U.S. financial markets.

the federal government, now in a dilemma. If you do not aid in California, may lead to a wider range of confusion; if opened this head,Christian Louboutin pas cher, afraid of other states to follow suit, giving a heavy burden on the federal government.



compared to the troubled California, United States, the financial position of many other states is not much better. According to statistics of professional organizations, in 2010 and 2011 fiscal year, 50 states face budget deficits in 47, the cumulative deficit of up to $ 350 billion.







However, taking into account the special status in California, the federal government does not seem to put words die. To answer questions before Congress, when asked to determine whether the California rule out the possibility of rescue, Geithner said that in order to solve the chaos,polo ralph lauren, we may have to take some unusual behavior,doudoune moncler pas cher, as we have previously adopted the same measures . total U.S. economic output of about 13%. Statistics show that if, as a separate economic entity,chaussure louboutin, the California economy into the world rankings and even the top ten.


Lufkin from California Congressman Glenn said that this is not just a matter of California, is something the United States. Research analyst Thornburg that allowed California bankruptcy, California and the U.S. economy for the stakes too high.
Auditor General John Chiang, California recently warned that, if not immediately find a solution that does not take 50 days, California would have wound up. Governor Arnold Schwarzenegger last week said that, after June 15, every day of delay would endanger the solvency of the state government and public sector functioning.
a reporter asked whether, on the financial crisis in California to provide emergency assistance. Gibbs gently gives a negative answer: the impact of California's revenue dropped significantly, the state unemployment is increasing,louboutin, but also lingering housing crisis. In the past year, the California government revenues decreased by 27%, fell to the level of the late 1990s. California currently has more than 24 billion U.S. dollars budget deficit, which limits the government's efforts through the issuance of bond financing, making the financial crisis is getting worse.
in which most of the deficit through tax increases or spending cuts to be resolved, but there will still be a large part in some form of final pay by the federal government.
accounted for 13% of the total U.S. economy the largest U.S. state of California is facing a bankruptcy situation. On Tuesday, the White House openly rejected the financial crisis of the state government to provide emergency assistance, and said California needs to solve its own problems right now. If you can not find a new way, a huge $ 24 billion budget deficit facing California government may have to declare bankruptcy within the next couple of months.
Standard & Poor's in California nearly $ 67 billion of bonds on negative credit watch list, saying the state's structural budget deficit may lead to severe liquidity gap,polo ralph lauren pas cher, or forced to issue debt securities instead of in arrears Cash debt. Standard & Poor's warned that if the Government does not solve the problem in California will probably bring the state's rating to A below.
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Dunhuang of Gansu province in Northwest China, located on the ancient Silk Road, was known for the Mogao Grottoes, China's first World Heritage site, as well as its beautiful scenery.
But over-exploitation of water resources has already caused environmental deterioration, Minister of Water Resources Chen Lei told a conference on water utilization and ecological protection in Dunhuang on Saturday.
The environmental damage includes massive shrinkage of natural wetlands and forests, as well as desertification.
For instance, the water level in the Crescent Moon Lake, a crescent-shaped lake and famous scenic spot, has dropped to 1 meter compared with 8 meters in the 1960s, according to ministry data.
The forests of Dunhuang have shrunk by 40 percent, meadows by 62 percent and wetlands by 68 percent over the past six decades, official statistics show. The oases now only cover 4.5 percent of the city's area of more than 30,000 square kilometers, which is five times as large as Shanghai, according to local official figures.
"Increasing population and massive land reclamation have consumed too much water in previous decades," Chen said. "Water has become a bottleneck to the sustainable development of the city."
Desertification is also threatening the 1,000-year-old Buddhist frescoes in the Mogao Grottoes, he warned.
To save the historic city from drying up, the State Council, or China's cabinet, approved a 10-year plan in June for preserving the oasis. Implementation of the plan started in July.
The plan, costing more than 4.7 billion yuan ($730 million), includes building channels to bring water in from outside sources, promoting water conservation technologies and methods, rationing water use and planting more trees and wetland plants.
Ma Jun, director of the Institute of Public and Environmental Affairs, a non-government organization based in Beijing, said on Sunday that setting up a water conservation system was urgently needed to prevent the city from disappearing into the desert.
"As the local economy currently relies on the water-consuming agriculture sector, the plan highlights water-saving irrigation," Ma said.
"But water pollution, triggered by growing industrial development, should also be taken into consideration in the future, since pollution is another way to waste clean water," he said.

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