Originally posted by arrowhead
Quote: | Originally posted by squid
Yea, well, of course. Especially as that Austrian colaterol damage guy made CA bespeciallyankcrupt.
I just learned that all companies working for the Gov. are getting no cash at all. Instead a paper which states that they will be paid later Kind of a
Goverment debt paper.
But what if Arnie can't get no money to pay the debt????.
California you got it better OF COURSE |
Well, let me help out all the people here with the short-term memory problems. First of all, California is no longer issuing the paper. That was a
short-term problem because the legislature could not pass a workable budget. By the way, are you aware that the "paper" bore interest at 3%? That is
three times the current interest rate on CD's.
Now as for the Governator, perhaps the senility factor here has caused a number of viejos here to forget that the financial problems in California
started with a Democratic governor named Grey Davis. In fact, Grey Davis was so incompetent that the People of the State of California kicked him out
of office before his term was up and put in the Governator. But before we could kick out Davis, he managed to screw up the finances. He signed onerous
contracts with unions, like the prison guards and others, that locked in the state to unbearable and unwarranted expenses for years into the future.
He bloated the state's payroll, and basically spent like a drunken sailor on leave, thereby hocking the entire future of the state for a few quick
jollies. Kind of like what the anointed one in Washington is doing to the rest of the country.
Well, you know what they say, "as California goes, so goes the nation." |