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Location: Georgia, on the Florida line, right above Tallahassee
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I saw an article where California is asking for TARP funds to use as a short term loan so that they can sell their long term debt. I was thinking, "That is AWESOME." and wondering if I could do that, too. First, I'd quit my job. Then I'd max the credit cards, taking me to about 25K in debt or so. Then I'd spend all my money in the bank, and have like $1.45 left for some sammiches for the week.
Then I'd look for someone to give me a short term loan until I could find someone to buy my long term debt.
The federal government should use the Troubled Asset Relief Program to buy the notes of any state that defaults, California Treasurer Bill Lockyer said in a letter to Treasury Secretary Timothy Geithner yesterday that was released by his office. A guarantee would make it easier for states to purchase the bond insurance policies they need to attract investors.
“If we cannot obtain our usual short-term cash flow borrowings there could be devastating impacts on the ability of the state or other governments to provide essential services to their citizens,” Lockyer said. “Such a scenario could also cause major disruption to financial markets.”
Ya know what else might be bad? Pouring money down a big money pit, with lots of people on the sides of the pit with big shovels and picks and backhoes, making the pit ever bigger so it can suck up more delicious money. How about "We got a plan to fix this." instead of "Need lots of money and we have no clue except need more money Kplzthx more money."
California could be so great. Talk to Californians. They'll tell you how great it is. At the same time, it was great because IT WASN'T REAL. It was an ILLUSION. Now, U.S. taxpayers are being asked to prolong the illusion.
It's not much different than my own personal delusion. Now, Gimme some money. I'm on my last sammich.
New york came very close in the past. First thing to happen is massive layoffs and spending cuts.Programs go unfunded where cuts can't be agreed on.
Near my own town of Garnerville in New York, the state began a building project to replace one of the Palisades Parkway bridges. Five months into construction the company doing the work stopped, packed up and left. That was two years ago. I don't ever see a return to prosperity in the foreseeable future. New York used to be home to many corporate level office positions as well as manufacturing jobs. What happened to the good old days?
New York used to be home to many corporate level office positions as well as manufacturing jobs. What happened to the good old days?
Quote:
Originally Posted by wheelsup
NY taxes are incredibly high and people and corporations left. I have a lot of ex-NY'ers where I live in NC.
Exactly! CA is doing much the same, driving taxes higher and higher for individuals and corporations. States need to realize that they can't tax themselves into prosperity.
Exactly! CA is doing much the same, driving taxes higher and higher for individuals and corporations. States need to realize that they can't tax themselves into prosperity.
Agree, thats why businesses move out of high tax states like NY, MN, CA and move to more business friendly areas like TX or NC.
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