Post by The Big Dog on Jan 16, 2009 14:16:29 GMT -5
As goes California, in the words of the old saw, so goes the nation.
On display we see how really bad things can get with decades of single party rule in the legislative and the latest in a series of compliant / complicit governors in the state house.
The only real difference between our situation here in California and what the Congress has set us up for is that the federal government can paper over it's faults by printing currency. At the center is a fetid, stinking mass of both short and long term debt, stacked like manure on top of a shrinking foundation known as the tax base. Eventually there will be no amount of currency that can cover the pile and that will make what is going on now look like a church picnic.
Wake up America... you are soon going to be treated to seeing the richest and most populated state in the union fall on it's fiscal face in an almost irrecoverable paroxsym of economic extremis. If the voters of this state had a collective pair of balls, and an ounce of brains, they would have put an end to it long ago.
This is your future as long as you continue to let socialists have their ways with your money. It is true and it is coming no less than if it was written on the wind itself.
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Wyatt Buchanan, Chronicle Staff Writer
Thursday, January 15, 2009
The San Francisco Chronicle
California's state cash-flow crisis will almost certainly delay tax refunds and other payments as soon as next month, while the world's seventh-largest economy teeters on the edge a "cash abyss" by the summer, according to a report released Wednesday.
The nonpartisan Legislative Analyst's Office reported that without action by lawmakers, the state will be $500 million short of cash to pay bills by Feb. 1, which would grow to $4 billion by March. Even a solution today may not prevent the state from delaying payments or issuing IOUs.[/quote]
On display we see how really bad things can get with decades of single party rule in the legislative and the latest in a series of compliant / complicit governors in the state house.
The only real difference between our situation here in California and what the Congress has set us up for is that the federal government can paper over it's faults by printing currency. At the center is a fetid, stinking mass of both short and long term debt, stacked like manure on top of a shrinking foundation known as the tax base. Eventually there will be no amount of currency that can cover the pile and that will make what is going on now look like a church picnic.
Wake up America... you are soon going to be treated to seeing the richest and most populated state in the union fall on it's fiscal face in an almost irrecoverable paroxsym of economic extremis. If the voters of this state had a collective pair of balls, and an ounce of brains, they would have put an end to it long ago.
This is your future as long as you continue to let socialists have their ways with your money. It is true and it is coming no less than if it was written on the wind itself.
[/url]
Wyatt Buchanan, Chronicle Staff Writer
Thursday, January 15, 2009
The San Francisco Chronicle
California's state cash-flow crisis will almost certainly delay tax refunds and other payments as soon as next month, while the world's seventh-largest economy teeters on the edge a "cash abyss" by the summer, according to a report released Wednesday.
The nonpartisan Legislative Analyst's Office reported that without action by lawmakers, the state will be $500 million short of cash to pay bills by Feb. 1, which would grow to $4 billion by March. Even a solution today may not prevent the state from delaying payments or issuing IOUs.[/quote]
