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When the Bill Comes Due

By Brian C. Ledbetter · Friday, October 3. 2008 13:06
California, as I had mentioned a long while back, is completely insolvent. The State government out there spends billions of dollars more than it brings in every single year, resulting in an ever-increasing load of debt that is heaped upon every citizen there now, and every citizen born there for centuries to come.

Enter our current credit "crisis," in which people high and low are suddenly surprised to learn that they can no longer get credit as they once did. Alas, we now discover that California, being one of the largest debt-consumers in the nation, is no longer able to tap the bond markets quite as heavily as it once did.

So what does California think the appropriate solution for its self-inflicted financial problems is?

If you guessed "Ask Washington, D.C. for a bailout," give yourself a big fat pat on the back.

And then prepare open up your wallet.

Seriously, folks, it's stuff like this that makes me wish we had a Federal law prohibiting any exit from California. With as many of Them as we have here in Fairfax County, it's no wonder we can't go through a single election without "voting" ourselves another $60 million into debt.

See-Also:

Michelle Malkin, who loves bailouts just as much as I love Californians.
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Here is what a handful of random people think about this article. But first, the fine print:
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captainfish on 2008-10-08 21:38 #1
*Am so glad that the federal bailout helped the economy. I feel so much better now. Andrew Rice running for Sen Inhofe's seat here in Oklahoma is running ads blaming him for the mortgage and financial mess. He ends the ad by asking if we are feeling better now.

Heck, even the stock market did not like what came out of congress. 90% of America did not like what came out of congress.

The remaining 10% were the banks and members of AIG who got their massages and golf outings paid for by the taxpayers.

And, as can be seen by Wed Oct 8, the rest of the global economy reacted positively as well.... NOT!!!

And even the media are screaming like banshees over the mess following the passage of the bill. They are whining about the 2,000 point drop int he stock market. Anybody even think to ask that maybe this "correction" was a necessary correction?!?!!?

Hey, our gas prices are now back down to $2.69 a gallon....... down to near normal price levels now. I got no problem. I do feel better and nothing has been done yet as those federal dollars that were so desperately needed right then and right now, have not entered the market yet.
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