http://www.nytimes.com/2009/07/03/us/03calif.html?_r=1&hp
LOS ANGELES — 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.
Apparently there's a fed law that says that states can't go bankrupt. So this should get more fun. Interesting that a state can print its own money, although probably this is technically not money.
I also read that if certain 'state' parks close, the fed gets the land back.
Showing posts with label California FAIL. Show all posts
Showing posts with label California FAIL. Show all posts
16 January 2009
California controller to suspend tax refunds, welfare checks
John Chiang announces that his office will suspend $3.7 billion in payments owed to Californians starting Feb. 1, as a result of the state's cash crisis. Student grants are also affected.
Reporting from Sacramento -- State Controller John Chiang announced today that his office would suspend tax refunds, welfare checks, student grants and other payments owed to Californians starting Feb. 1, as a result of the state's cash crisis.
Chiang said he had no choice but to stop making some $3.7 billion in payments in the absence of action by the governor and lawmakers to close the state's nearly $42-billion budget deficit. More than half of those payments are tax refunds.
Chiang said he had no choice but to stop making some $3.7 billion in payments in the absence of action by the governor and lawmakers to close the state's nearly $42-billion budget deficit. More than half of those payments are tax refunds.
"I take this action with great reluctance," Chiang said at a news conference in his office. But he said that without action to close the deficit, "there is no way to make it through February unscathed."
The payments to be frozen include nearly $2 billion in tax refunds; $300 million in cash grants for needy families and the aged, blind and disabled; and $13 million in grants for college students.
http://www.latimes.com/news/local/la-me-budget17-2009jan17,0,4472460.story?track=rss
07 January 2009
California FAIL
The dickswinging, potsmoking, kennedy-plooking governor plans to issue IOUs instead of actual checks:
http://www.latimes.com/news/local/la-me-tax-refunds7-2008jan07,0,7471181.story
Epic FAIL. I suggest that citizens issue same IOUs to the government, for jury duty, etc.
Epic.
(Not that dickswinging or potsmoking are bad, its just that Arnold is a hypocrite. How much coke do you think his wife insufflated?)
The dickswinging, potsmoking, kennedy-plooking governor plans to issue IOUs instead of actual checks:
http://www.latimes.com/news/local/la-me-tax-refunds7-2008jan07,0,7471181.story
Epic FAIL. I suggest that citizens issue same IOUs to the government, for jury duty, etc.
Epic.
(Not that dickswinging or potsmoking are bad, its just that Arnold is a hypocrite. How much coke do you think his wife insufflated?)
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