Congratulations California, you have a loan! (Sacramento: houses, salary, taxes)

[evilnewbie]

And you are all paying for the IOU's at a 3.75% interest rate... that's a LOT better than my savings interest rate and CD's....

California's small business vendors fight for their cash - Jul. 12, 2009

Please call your senators and representatives and thank them for the new loan they made for you... after all, its their responsibility to do the budget..

[EscapeCalifornia]

Everyone getting IOUs from the state should start paying their state taxes when them.

[nicet4]

Originally Posted by EscapeCalifornia

Everyone getting IOUs from the state should start paying their state taxes when them.

I think what the state needs to do is set up more better sactuary cities, establish gay/lesbian task forces and spend $50 million on studies to protect the endangered Sacramento River one eyed gnat.

Glad I don't live there because this is going to be fun to watch.

[Quatermass]

Originally Posted by nicet4

Glad I don't live there because this is going to be fun to watch.

There's nothing "fun" about watching the largest state in the Union collapse, nor does it portend anything good for the national economy.

[jc76]

Where does all this money come from? My uncle just visited the DC capital house and also the place where they make the money. He said at one of the workers stations there was s ign up that read "How do you think I feel, I just watched my life's salary pass in front of me in 3 minutes." Or something to that effect. So, where does all that state IOU money come from? DC? Pardon my ignorance on the topic I just don't understand it all.

[Happy Cells]

it WILL be fun to watch California collapse....because THEY DID IT TO THEMSELVES..... The only thing more entertaining will be watching them blame everyone else for it....

[EscapeCalifornia]

Originally Posted by jc76

Where does all this money come from? My uncle just visited the DC capital house and also the place where they make the money. He said at one of the workers stations there was s ign up that read "How do you think I feel, I just watched my life's salary pass in front of me in 3 minutes." Or something to that effect. So, where does all that state IOU money come from? DC? Pardon my ignorance on the topic I just don't understand it all.

An IOU is not currency. It's a promise to pay later.

[EscapeCalifornia]

Originally Posted by Quatermass

There's nothing "fun" about watching the largest state in the Union collapse, nor does it portend anything good for the national economy.

Hopefully the rest of the country can watch this mess and get their own houses in order before they become the next California.

[Curmudgeon]

Originally Posted by nicet4

I think what the state needs to do is set up more better sactuary cities, establish gay/lesbian task forces and spend $50 million on studies to protect the endangered Sacramento River one eyed gnat.

Glad I don't live there because this is going to be fun to watch.

We're moving out shortly and I'll watch because it will be interesting and some of the politics will be entertaining but with six children and seven grandchildren still here it will not be fun!

[Quatermass]

Originally Posted by EscapeCalifornia

Hopefully the rest of the country can watch this mess and get their own houses in order before they become the next California.

New York already seems well on its way to becoming the next California. Meanwhile, California seems determined to become the next Michigan.

CA's failure ought to serve as an object lesson to dysfunctional states throughout the country, but for many of them it may already be too late.