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Americans either can no longer take the risk of California bonds,or even 4% interest doesn't make up for the risk taken. Or maybe government has maxed out Americans able to buy junk bonds.
"Californias bond sales this year paid for projects from roads to stem cell research, and included $8.8 billion of short- term securities due next year that closed temporary gaps in the states tax collections. The sales came as its credit rating, now the lowest among U.S. states, was cut because of budget deficits resulting from the recession.
We are running out of tricks, Lockyer told a committee of the state Assembly at a hearing in Sacramento. Shortly we are going to have to go international to sell California bonds. I dont know how expensive that is going to be.
At least Lockyer admits the selling of our bonds have been done by trickery.
California is being forced to go to other nations, at even higher rates to keep our out of control government going.
Time to stop digging, admit we are bankrupt, kill the sweetheart deals with unions and act like adults.
Angry yet?
More...
"Californias bond sales this year paid for projects from roads to stem cell research, and included $8.8 billion of short- term securities due next year that closed temporary gaps in the states tax collections. The sales came as its credit rating, now the lowest among U.S. states, was cut because of budget deficits resulting from the recession.
We are running out of tricks, Lockyer told a committee of the state Assembly at a hearing in Sacramento. Shortly we are going to have to go international to sell California bonds. I dont know how expensive that is going to be.
At least Lockyer admits the selling of our bonds have been done by trickery.
California is being forced to go to other nations, at even higher rates to keep our out of control government going.
Time to stop digging, admit we are bankrupt, kill the sweetheart deals with unions and act like adults.
Angry yet?
More...