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Thread: California goes broke, halts $3.5 billion in payments

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    California goes broke, halts $3.5 billion in payments

    It is official. California is broke, and cannot meet its obligations. It's deficit is now 35% greater than the money it takes in.

    California is also dumb. Why don't they just print up a bunch of counterfeit money to make ends meet? That's what the Federal government does.

    Article is here.
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    Re: California goes broke, halts $3.5 billion in payments

    First state in the country to go down, I wonder which one is next. Im going to put my money on mine.
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    Re: California goes broke, halts $3.5 billion in payments

    Services and payments will resume once state legislators come to an agreement on the budget.
    Oh, let's overlook that, so we can rave about how California is BROKE!!!

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    Re: California goes broke, halts $3.5 billion in payments

    Wow, you mean the government can't afford to pay for all those "liberal" social services?

    I'm just.... astounded, I tell you! Amazed! I never woulda thunk it.

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    Re: California goes broke, halts $3.5 billion in payments

    It's probably a bit more than that, but certainly those programs were not of any help. The whole of our governments, State and Federal, have been running themselves improperly and inappropriately for some time. But there was only a vocal few speaking out about the real problems. The rest, on all sides, were sitting there bitching out of one side of their mouth with their hands stretched out for whatever they could get from the government. Suckling it, becoming dependent upon it. Republocrats sold out and their constituency happily followed. This is the America the lazy made, those whom didn't want to do anything for themselves. They authorized government growth, the allowed it to make program after program, spend more money, take more power. In the end...we sorta deserve this. This is what happens when we don't do our duty as freemen, when we don't act to keep this Republic.
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    Re: California goes broke, halts $3.5 billion in payments

    Quote Originally Posted by rivrrat View Post
    Wow, you mean the government can't afford to pay for all those "liberal" social services?

    I'm just.... astounded, I tell you! Amazed! I never woulda thunk it.
    And you know what the answer will be? It will be to raise taxes, and when the economy starts rolling again, they'll get a surplus or something close to it, and they'll say "Hey, lets provide even more social services for things we couldn't get to before" and then they'll go broke again in the next down turn, and the answer will be to "raise taxes".....wash,rinse,repeat. Government is like an anaconda. It slowly squeezes you to death.
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    Re: California goes broke, halts $3.5 billion in payments

    The state has also put a hire freeze on many state jobs and is taking up to 30 days to pay tax refunds, if at all. There is talk of refunds being turned into a credit instead.

    FYI: California has the 8th largest GDP in the world and $700 billion more then the second highest state in the US (Texas).
    "Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
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    Re: California goes broke, halts $3.5 billion in payments

    Texas already has a problem with illegal aliens. Does this mean we're going to have a flood of legal aliens (because people from Kalifornistan are weird and alien)?

    I mean, why don't these guys just cut spending? Is it that hard?
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    Re: California goes broke, halts $3.5 billion in payments

    Quote Originally Posted by Keorythe View Post
    Texas already has a problem with illegal aliens. Does this mean we're going to have a flood of legal aliens (because people from Kalifornistan are weird and alien)?

    I mean, why don't these guys just cut spending? Is it that hard?
    There is the million dollar question. It seems to me to be a Catch-22. In order for those guys to cut spending, they first must get elected. To get elected they have to suck up to the people who are voting. It's a spiraling nosedive combination.

    It might be a good time for them to start taxing pot.

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    Re: California goes broke, halts $3.5 billion in payments

    Quote Originally Posted by danarhea View Post
    It is official. California is broke, and cannot meet its obligations. It's deficit is now 35% greater than the money it takes in.

    California is also dumb. Why don't they just print up a bunch of counterfeit money to make ends meet? That's what the Federal government does.

    Article is here.
    Arnold won't agree to a budget with a bunch of wasteful spending programs so they can't reach a budget. I say "Good for him!!!!"

    I would rather wait a while to get my tax return from the state than to just have them settle on some wasteful budget.

    I am sure the food stampies won't like this though.

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