That might not seem like a lot but we are not a huge office, between structural engineers, drafters and administrative staff we've only got 42 employees. All of these people are friends and all of them will be hurt by this.
This to me is just another signal along the road to depression. Not to get all maudlin on you but this is not good. Our office was booming merely two years ago and hiring like crazy. We had to get a bigger office to accomodate everyone and sadly, we could now probably move back to our old space. Ce la vie.
But the hard part is that I had been secretly hoping I would be one of those people. I'm the accountant for the office and I tend to know when things are going badly, I usually know first about revenue etc. and I just didn't see this one coming.
Orange County's housing market is hurting badly and we were part of the huge boom that took place in the early 2000's. My husband I bought our first house in 2006 when we could finally "afford" one, but could we? Having seen our first home lose 25% of it's value in two years has not been easy but we still have a roof over our head.
But also having been diagnosed with a chronic and potentially disabling condition has not helped circumstances much. Granted, I still work and I still feel capable of keeping on but I confess to selfishly hating what I do and wanting to move on in so many ways.
And I keep saying to anyone who will hear me, this will get worse before it gets better. Our State legislature can't find a way to compromise and fix our budget shortfalls but calling billions in lacking funds a "shortfall" seems ridiculous in of itself.
California's unemployment will get worse and now that Republicans are focusing on cutting services rather than raising taxes seems to be the backwards way of dealing with this crisis. But hey, they're Republicans, they can't help being backwards.
On Monday, California's top fiscal officers attempted to deliver a similar jolt to state legislators who have yet to address a $28-billion projected budget gap.
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"As unpalatable as tax increases or further program cuts may appear, neither is as toxic to the state's fiscal heath as doing nothing," said state Controller John Chiang
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"I think some of my colleagues on both sides of the aisle are living in denial, frankly," Assembly Speaker Karen Bass (D-Los Angeles) said before the session.
LA Times
In denial indeed, I think many are in denial about this never-ending house of cards that is going to fold any second now. It's just not going to get better any time soon and the inability of our Republican legislators to free themselves from the ideological corner is mind boggling.
California is lucky to have a majority leader who is in touch with reality and I'm glad she's not backing down but speaking truth to power and since California is ruled by the 2/3's law, that truth is that the power lies with just a handful of Republicans.
STATEMENT OF SPEAKER BASS ON GOVERNOR’S WEDNESDAY PRESS CONFERENCE
SACRAMENTO - Assembly Speaker Karen Bass made the following statement after the Governor’s press conference Wednesday:
"Gimmicks aren’t going to keep transportation projects moving, let schools stay open or provide public safety. The fact remains Democrats are the only ones who have been serious about compromising to find a budget solution. We have stepped up to the plate and support both the deep cuts and new revenues it will take to help close the budget deficit. It is past time for Governor Schwarzenegger to break the logjam created by his own party and produce Republican votes for a package of cuts and revenues. The 2/3 vote requirement means Democrats can’t do it alone. With 51 Democrats we only need three Republican votes in the Assembly. But we need real leadership from Governor Schwarzenegger to convince even a few of his Republican colleagues to compromise. Other Republican governors have done that in time of emergency. This governor has to deliver as well."
Speaker Bass' Website
The reality-based world right now is not pretty and my reality is sitting here in my office with the names of six coworkers who will be finding out any minute now that they are being let go. I don't take my job for granted and I told my boss just that and that I knew I was just as vulnerable as anyone else even though I've been here almost eight years, this is going to cut deep, the next year will determine much for our future as a Country.
Right now it seems this boat has so many leaks in it we just don't have enough plugs and were squabbling about what to seal up first. Ultimately the most important part of this equation is us. But we haven't seen our bail out yet, have we?
And fine, I know there will be many who will say that those who took loans they couldn't afford are to blame, but right now, this hole is going to be so deep that everyone is going to get sucked into it.
Stop with the finger pointing, even those who did exactly what they should have done will be struggling (I met just such a person last night who lives in MY COMMUNITY) and I'm so tired of the whining by those who live their perfectly frugal life. We all sink no matter how good you might perceive yourself, we are Democrats and we believe that we all suffer when one of us suffers, that we all go down when a majority of us falters.
This can no longer be about me against you or what you did right and what I did wrong. Everyone who needs help should get it and those who are in a position to do so should do it, now.
More than any administration official, Mrs. Bair has called publicly for using billions of taxpayer dollars to finance the modification of loans threatened by default. But her advocacy has contributed to a battle that is pitting White House and Treasury officials against the F.D.I.C. and lawmakers in Congress. The discord has influenced programs that have so far proved insufficient to stem a tide of foreclosures that Moody’s Economy.com expects will affect 10 million homeowners over the next five years. And it is drawing personal conflicts and animosities into the policy-making process.
White House and Treasury officials argue that Mrs. Bair’s high-profile campaigning is meant to promote herself while making them look heartless. As a result, they have begun excluding Mrs. Bair from some discussions, though she remains active in conversations where the F.D.I.C.’s support is needed, like the Citigroup rescue.
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"I’ve heard the stories of people who are suffering and can stay in their homes if there is just a small adjustment to their loans," said Mrs. Bair, a Republican who was appointed to her post by President Bush two years ago. "There are some people in the Republican Party who resent the idea of helping others," she added. "But the market is broken right now, and unless we intervene, these people and the economy won’t be helped."
New York Times
This kind of bullshit must stop and even if Mrs. Bair is being self-serving at this point, I don't care! Demand that help be made available now not in January, demand that the current administration face the fact that change has to happen sooner than later and that their continued infighting helps no one.
Hope Now is of no help at all from what I've read and the mortgage companies have to stop helping just those who are far behind because soon many more will be struggling to catch up. Hope now should mean help now.
So does anyone else feel like not enough is being done to help home owners? And by the way, I didn't really expect this to digress into the rant it has but so be it.