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I hope none of you are waiting on cash from California, all you'll get is an IOU...

http://www.nytimes.com/2009/07/03/us/03 ... ml?_r=1&hp

An ever-widening budget gap joined with intractable political paralysis to deliver California its biggest fiscal blow in decades on Thursday, when the state’s controller began printing i.o.u.’s in lieu of cash to pay taxpayers, vendors and local governments.

Some of you that support all this spending being done by the Dems in Washington should pay attention. I don't rely on a check from the government to survive, but one hell of a lot of Obama-supporting deadbeats are going to have a surprise when they get play money in the mail because the Feds ran out of cash and couldn't borrow any more...

California under Pete Wilson did this before, even the paychecks were IOU's. Banks loved it, received 3% interest from the state. Didn't really impact the employees, or vendors, just ended up costing the state more.

California deserves everything it gets.

That's as good as money, sir. Those are IOUs.

I love how this had nothing to do with the president but it turned into a thread on Obama....

BlueLion wrote:California under Pete Wilson did this before, even the paychecks were IOU's. Banks loved it, received 3% interest from the state. Didn't really impact the employees, or vendors, just ended up costing the state more.

So you're spinning this into a moneymaking opportunity????

You really should be Obama's press secretary...

Boris wrote:

BlueLion wrote:California under Pete Wilson did this before, even the paychecks were IOU's. Banks loved it, received 3% interest from the state. Didn't really impact the employees, or vendors, just ended up costing the state more.

So you're spinning this into a moneymaking opportunity????

You really should be Obama's press secretary...

Is the position open?

DC should pay attention.

See, California and there give-away programs to every Tom, DIck, Harry, Juan, and Pedro in the State . . . . legally here or otherwise (generally otherwise I'll wager) will eventually bankrupt them . . . as it has. The number of teet suckers in California outnumbers the number of tax payers. Couple that with poor management, a dicked up legislature and this is the result.

There's not a snowballs chance in hell it can be done at the Federal Level. Pay attention DC.