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Post by 101ABN on Mar 9, 2010 6:50:06 GMT -8
"California passed a gas tax last week to help make up for its nearly $20 billion budget gap, the latest in a series of measures to right the state's teetering economy. The country of Greece is in even worse shape, with accumulated debt higher than 110 percent of GDP, set to reach 125 percent this year. Can a state declare bankruptcy? Can a country?" No and no. www.slate.com/id/2246915/ |
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Post by dustdevil28 on Mar 9, 2010 14:39:05 GMT -8
Haven't they been so broke that they are issuing IOU's to state workers?
I mean, that is pathetic especially in a state like California where it does have such a high tax income from high earners.
Moral of the lessen, no amount of wealth can last through the implimentation of a nanny state.
-BB
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Post by 101ABN on Mar 9, 2010 21:25:41 GMT -8
"Haven't they been so broke that they are issuing IOU's to state workers?"
They did that after the last budget expired and before they were able to pass a new one. By law, they couldn't spend without a budget
"Moral of the lessen, no amount of wealth can last through the implimentation of a nanny state."
Or survive the stupidity of a profligate legislature.
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exorcist
Full Member
watch CNN, how can 1,000,000 crickets be wrong?
Posts: 76
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Post by exorcist on Apr 1, 2010 19:49:12 GMT -8
They are worse than bankrupt, they are so far in debt that they may never see daylight again.
I wonder if we can sell Hawaii to China to pay off the debt?
Those fools are even worse.
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Post by 101ABN on Apr 1, 2010 20:43:55 GMT -8
Maybe we can sell them San Francisco.
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