The good news is that taxpayers from every other state won’t be on the hook to bailout California. The pain shall be within her own borders.
We'll see.
“The good news is that taxpayers from every other state won’t be on the hook to bailout California. The pain shall be within her own borders.”
I wouldn’t count on that. The federal government has a track record of bailing out and/or funding almost anything.
I don't believe it. The Marxist Obama and his agents will find a way to pay California. They may not call it a bailout. They may call it infrastructure investment, green energy, renewal or whatever, but we will all end up paying Obama's moonies.
Where did you ever get this idea? Do you really think that increasing taxes will EVER satisfy the insatiable greed of government and government union employees? My guess is that the increase in tax rate will DECREASE the actual revenue as the productive citizens leave the state and find ways to protect their incomes from the rapacious thieves in Scramento. And 0bama will not hesitate to spend your money to bail out has supporters in the Peoples' Democracy of Kalifornistan when they claim their revenues fell under their projections (oddly enough I'm sure their spending will greatly exceed their projections)
“The good news is that taxpayers from every other state won’t be on the hook to bailout California.”
Only because the rest of the country is broke. Like Thatcher said we’ve now run out of other people’s money. But we could see helicopter Ben to the rescue.
1)California will demand that it be rescued by the government to prevent it from turning into a zone or anarchy,or a disgrace to America, and to prevent a world-wide financial panic.
2) The United States treasury will be authorized to make a direct loan to the state so that interest payments can be resumed. This will done with money created out of thin air by the Fed.This money will be taken from the taxpayer through the loss of purchasing power.
3) There will be austerity programs for California, and a systematic repayment schedule,but none of these will be honored.
4)And California will continue to be a welfare/libtard utopia.
Anyone who has the resources and the opportunity to get out is already headed for the border. The ones who don't have to pay for it will continue to stream in to take advantage of the "free stuff". The result is more demand for more government with fewer people to pay for it.
If I were you, I wouldn’t take any bets on that position.
The whole country will bail out CA. The Rat WH will ensure that happens, so there’s no escaping CA’s mistakes, even if you move to another state.
All these Rats hang together: take from fiscally-solvent (Rep.) states or print paper money and bail out the leftist states.
Just wait.