It’s OK.. SantaBama will bail us out. Right, Gubby?
The NEW ballad of Jed Clampett
Come and listen to a story ‘bout a man named Jed
Poor oil entrepreneur barely kept his family fed
Then one day he was working for some food,
And up through the crowd come a bumbling fool
(Arnold that is, RINO gold, more taxes please)
Well the first thing you know old Jed’s taxes are to much to bear,
Kin folk said Jed move away from there!
Said California is no place for you to be
So they loaded up the truck and they moved from Beverly
(go’n back to the Hills they are, fish’n holes, country and western stars)
Well now it’s time to say goodbye to Jed and all his kin
They would like to thank you folks for kindly dropping in
You’re all invited back again to their new locality
To have a heaping helping of their hospitality
(Redneck Hillbillies, is what the press call ‘em now,
Clingers of bibles and guns and to Obama no bow!
Nice folks Y’all come back now, ya hear?)
CORRECTION, Spending CUTS will HELP the economy! The article writer can’t escape the leftist bias. :)
Doing my schadenfreude dance!!! I am glad I moved out. Welcome to the 3rd world. Maybe they will just declare bankruptcy since they headed towards Mexico, Venezueala or Argentina status.
If California has to make a decision of whether or not to cut spending or raising taxes..........guess what it’s going to do. If they raise taxes, they will get even less revenue because the people will have less to spend. If they cut taxes, people will spend that money and the state will increase their revenue. But.....higher taxes are the way they normally go.
I guess they’ll be paying their bond interest with IOUs, eh?
Lending to California will be like “Hotel California”:
“You can check out any time you like, but you can NEVER leave!”
You reap what you sow......
This is not a good time to buy California bonds. The risk of default is getting higher. (and I’m a California citizen)
One glance at those who are allowed to hold office and “Kalifornia’s” mess is explained!
In a related news item, Mexican authorities are shoring-up their patrols and fences along their border with California as drastic budget cuts prompt large numbers of desperate welfare recipients to flee the state.
Even a broken bond rating agency is right twice a day.
They'll still be “lowering” their ratings when California paper is being used as wallpaper or to start fires in those few remaining California homes that have fireplaces.
Just curious. Is there a viatical agency that pays present value on periodic payments which are obligations of the State of California?
California just needs a reasonable tax hike.
100% is fair. :)
Have a nice day.
-your friends on the American left