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Do you think California is operating with revenues from taxes and fees?
Nope, it is using transfers of funds from Trust Funds (mostly illegal) and the borrowing of $18 billion--which must be paid back, but can't.
"The State started the fiscal year with an $11.9 billion cash deficit, which rose to $18.6 billion on May 31, 2010. Those deficits are being covered with a combination of $12 billion of internal borrowing from special funds and $6.0 billion in external borrowing."
This is from a State Controllers press release, NOT a news story.
Why haven’t the Times, the Bee (any variety), the Chronicle or other fringe newspaper made this into a big story?
California is paying its bills with stolen and/or borrowed money! Who says we are not bankrupt? Who says the Governor and those running the State are honest?
This is why California will be in a Great Depression for a generation, we the people do not demand honesty from our elected officials--and we continue to buy newspapers that censor the news and are propaganda outlets for the elites, the unions and the special interests. Found this press release on the Internet--not the media.
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Nope, it is using transfers of funds from Trust Funds (mostly illegal) and the borrowing of $18 billion--which must be paid back, but can't.
"The State started the fiscal year with an $11.9 billion cash deficit, which rose to $18.6 billion on May 31, 2010. Those deficits are being covered with a combination of $12 billion of internal borrowing from special funds and $6.0 billion in external borrowing."
This is from a State Controllers press release, NOT a news story.
Why haven’t the Times, the Bee (any variety), the Chronicle or other fringe newspaper made this into a big story?
California is paying its bills with stolen and/or borrowed money! Who says we are not bankrupt? Who says the Governor and those running the State are honest?
This is why California will be in a Great Depression for a generation, we the people do not demand honesty from our elected officials--and we continue to buy newspapers that censor the news and are propaganda outlets for the elites, the unions and the special interests. Found this press release on the Internet--not the media.
More...