[BRussell]

This is an evil, evil state. I request my fellow gunboards members will join me in praying for the quick demise of this evil state government.

---------------------------------------------------
California may be out of cash in February
Reuters on Yahoo ^ | 12/5/08 | Jim Christie

Posted on Friday, December 05, 2008

SAN FRANCISCO (Reuters) – California is on track to run out of cash in February or March and faces a $15 billion cash shortage by the end of its fiscal year in June unless officials plug an $11.2 billion budget gap, according to the state's budget director.

Additionally, if Gov. Arnold Schwarzenegger and lawmakers fail to close the current fiscal year's budget shortfall soon, California, the most populous U.S. state, may in March delay payments to its vendors or hand them notes promising payment, according to a December 1 letter to top lawmakers from the director of the Department of Finance, Michael Genest.

A copy of the letter was obtained on Friday by Reuters.

"Specifically, it now appears certain that available cash reserves from all sources will fall below the cash cushion target of $2.5 billion in February and that the state will begin delaying payments or paying in registered warrants in March," Genest said in his letter.

"To reduce this threat, the administration is also proposing legislation to increase internal borrowable cash resources," Genest added. "However, even with this cash solution the state will not be able to pay all of its bills in the absence of quick action on the budgetary solutions."

The last time California, the world's eighth biggest economy and the largest issuer of U.S. public debt, issued payment promises to vendors was in the early 1990s.

 

[Bingo]

PLEASE- When praying ask that NJ soon follows.....

 

[BRussell]

PLEASE- When praying ask that NJ soon follows.....

Yes, I will pray for their failure also.

Come on guys, we need their collapse.

This is a come-to-Jesus moment if I ever saw one.

;->

 

[Petrov]

Well I think the capital gains tax should be raised to cover the shortfall

 

[GhostCat]

CHINA will bail yall out......CHINA is waiting in the wings ready to buy this whole country......bye bye California.....bye bye America!!!!

 

[cpw]

Obama will save them -- with our money

 

[Bingo]

Obama will save them -- with our money

Our change.... ????

 

[cpw]

Our change.... ????

No - he will probably keep the change also.

 

[thebohunk]

I can't wait, without California, Democrats will never win another presidential election ever!

I'd actually prefer if mother nature came and reclaimed the entire state for the Pacific Ocean, instead of the state just going broke, that's anti-climatic.

 

[rickyracer2]

California is just reaping their just rewards of a liberal government that has overspent its limit in the name of social programs. Unfortunately we now have a president who takes over on Jan 1 that has the same social spending values coupled with even bigger gov. expansion goals and what happens to California will spill over to every one else and no one will be untouched so be careful what you wish on California.

 

[cpw]

I can't wait, without California, Democrats will never win another presidential election ever!

I'd actually prefer if mother nature came and reclaimed the entire state for the Pacific Ocean, instead of the state just going broke, that's anti-climatic.

Obama will see that they are bailed out - so he will have their vote in 4 years.

 

[thebohunk]

Obama will see that they are bailed out - so he will have their vote in 4 years.

ppphht! He had their vote 4 years from now before he was even elected.

Be careful what I wish for on California? Doesn't really matter now that we have a communist in the white house. At least we can look to California as a sort of time machine, we will all be in that same boat in a few years. Funny how you never hear about Oklahoma or Montana having financial troubles, only CA, NJ, IL, etc.....