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

[TRD_Ian]

^ come to canada, we are pretty sweet, and we have GT FOURS......that alone is good enough reason to peace lol

[Random_Stranger]

^ come to canada, we are pretty sweet, and we have GT FOURS......that alone is good enough reason to peace lol

Shoot! If you guys let me in!

I bet it is hard as hell for an American to get into Canada. But I would have no problem moving out there. I hate snow, but small price to pay in my eyes.


I wonder if I go gambling and not pay taxes on winnings, because I can have my SS card on me. Then when they IRS asks for money, I will send them a piece of paper that says "I OWE YOU". Hhhmmm..........

This post has been edited by Random_Stranger: Jan 29, 2009 - 2:15 PM