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The California Political News and Views has said for weeks that California will run out of money on March 1, 2010. Now the State Controller admits that is a fact.
"State Controller John Chiang issued a stern warning Friday about California's cash reserves, telling legislative leaders and Gov. Arnold Schwarzenegger they must act on nearly $9 billion in budget cuts the governor is seeking by March or the state will run out of cash to pay its bills. “We can do that, quickly, by ending the union monopoly running the State, repealing the job and revenue killer AB 32 and by selling off the properties and businesses owned by the government.
The State is going to "borrow" money from YOU. "To that end, Chiang is calling for an additional $2 billion in cash-flow "solutions." Looking at previous cash crunches, that could mean some payments, like income tax refunds, would be delayed for a few weeks to keep the cushion intact."
If you refused to pay your bills you would go to jail, government gets to keep your money interest free. Corruption that is legal.
More...
"State Controller John Chiang issued a stern warning Friday about California's cash reserves, telling legislative leaders and Gov. Arnold Schwarzenegger they must act on nearly $9 billion in budget cuts the governor is seeking by March or the state will run out of cash to pay its bills. “We can do that, quickly, by ending the union monopoly running the State, repealing the job and revenue killer AB 32 and by selling off the properties and businesses owned by the government.
The State is going to "borrow" money from YOU. "To that end, Chiang is calling for an additional $2 billion in cash-flow "solutions." Looking at previous cash crunches, that could mean some payments, like income tax refunds, would be delayed for a few weeks to keep the cushion intact."
If you refused to pay your bills you would go to jail, government gets to keep your money interest free. Corruption that is legal.
More...