California Fails, 1st time since Great Depression Options

[playr158]

California is now $42 billion in the hole and the end comes Jan. 31st....that is the last day the state will be issuing checks for tax refunds and most services

Instead you will get a piece of paper from a bankrupt state that says the state owes you money and will pay you sometime in the future.

http://www.worldnetdaily.com/?pageId=87175

"Federal law requires that many school and healthcare programs – a total of about $6.6 billion in California – must be paid, the Los Angeles Times reports, so Chiang has announced an expected payment freeze on $3.7 billion worth of the state's bills, most of it refunds owed to taxpayers.

But even with the freeze beginning next week, the Times reports, California will still fall $346 million short for the month of February, forcing Chiang to consider something only done once since the Great Depression: issuing IOUs. "


to the liberals!

This post has been edited by playr158: Jan 28, 2009 - 10:10 AM

[Random_Stranger]

I hate CA Life, but the messed up thing is, WE PAY A GRIP IN TAXES AS IT IS!!!!! When gas prices went up, who paid out the arse? We did, NY, and FL. While all the other states were chillin' at a buck and some change. This is bull!!! Now we are playing with friggin Monopoly money. Once school is done, I am leaving. Screw this place.

[richee3]

I hate CA Life, but the messed up thing is, WE PAY A GRIP IN TAXES AS IT IS!!!!! When gas prices went up, who paid out the arse? We did, NY, and FL. While all the other states were chillin' at a buck and some change. This is bull!!! Now we are playing with friggin Monopoly money. Once school is done, I am leaving. Screw this place.

Haha Illinois had it pretty bad too. We sat are $4 something for a long time up until recently. I could go across state lines to Kentucky and it would be $2 something... But hey, on the plus side, Illinois will not be issuing IOU's, even after Blagojevich has taken everything.