Posted on 05/17/2009 1:06:48 PM PDT by guyshomenet
The end of Washington’s spending spree may soon come thanks to incautious California.
The day care center known as the California Legislature has led the State of Disaster to fiscal ruin. So bad is the situation here in the Shaky State that politicians - unable to balance the budget without bankrupting the taxpayers - rigged a series of ballot propositions to do jigger the books.
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Odds of these ballot measures passing is slightly below Hell’s sixth ring. If they fail, California’s $42 billion shortage combined with its junk bond rating would likely push the Land of Fruits and Nuts into bankruptcy, an outcome for which more than a few folk are openly rooting.
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Bill Lockyer, California’s current Treasurer, gives other trolls a bad name. I encountered Bill years ago when he horded the state’s Attorney General’s office. I briefly debated him on the constitutional basis for gun control. Despite his being a lawyer and me being an autodidact, it quickly became obvious that he was incapable of performing his job or perhaps cleaning himself properly after visiting the little dictators’ room.
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Lockyer has written to Timothy Geithner, a Keystone Cop masquerading as the U.S. Treasury Secretary. Without the shame common to common prostitutes, Lockyer began the pocket picking process, extending his rather greasy palm into the pockets of taxpayers from coast to coast
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Given America’s general distrust of California, you can expect a backlash.
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If the Obama Bunch backs Bill Lockyer in this misappropriation, it will backfire. Tea Parties were tepid compared to the pummeling politicians would receive over this intergovernmental slush fund.
(Excerpt) Read more at guysmith.org ...
‘TARP’, you will recall stands for ‘Troubled Asset Relief Program.’ Indeed California is troubled … in the psychiatric sense. Yet classifying Cal as an ‘asset’ will irk anyone east of the Sierra Nevadas. More to the point, TARP was established to soak-up toxic loans and other real property. Congress never intended for this loot to be lobbed at other governments.
snip....
This should be very, very interesting. Hard to imagine Congress making money available to bail out California. Not that most democrats would not have a problem doing it under cover of darkness in secret, with a binding resolution to appease their master overlord Obama Union thugs
Even the sycophant media would report it, the backlash would be popcorn time
We have been taxed without representation for some time now.
Well it is really starting to piss me off! I’m just sayin’
We (the taxpayers) bailed out GM and they’re gonna file bankruptcy.
We (the taxpayers) bailed out Chrysler and they have filed for bankruptcy.
It will feel so good when we (the taxpayers) stop beating our heads against the wall.
I know, I know, Kali is “too big to fail.”
Good stuff.
If America is a body, California is the a&&.
And San Francisco, the sphincter. Home of Pelosi. Not a coincidence.
The California Nightmare ping
How can big govt. get a bailout from the private sector when big govt. is putting more and more of the private sector out of business? The bamster has created a financial death spiral that will get smaller and smaller until it collapses. OH BOY, I am SOOO glad we elected a community organizer. Does he even balance his own checkbook? I seriously doubt it.
EDUCATED WAY BEYOND HIS INTELLEGENCE.
And it’s on some one-lane bridge in Tennessee. (I know, because I’m here) Sheesh
OK - California goes Bankrupt. And it becomes politically hard for Obama to bail them out.
What happens in California? Do all the services stop at once? How can this relate to eh mess in DC. Do you think that John Q Public can see thru the fog and se how this relates to the nation in general?
It’s psychosis. Obama is in over his head but doesn’t want to lose face by resigning in disgrace and I don’t think Biden would like losing his posh position.
If the services in California are supplied by the Federal taxpayer and US government, that means that the California electorate and government are not sovereign. The way to legitimize this would be for California to return to territorial status, with a non-sovereign territorial legislature, no Senator, and one non-voting delegate in the House of Representatives.
“Too big to fail”
What do you think? Given that municipal bonds are not subject to Federal Tax, is it lawful or Constitutional for the Feds to assume the debts and obligations *of* a state?
Disclaimer: Dammit, I'm a Physicist, not a Lawyer, Spock!
Cheers!
During the peak of the gas prices last year, I saw this: Guy pulls into the gas pump aisle next to me with a new long and huge bus-type camper towing a beautiful ski-boat-yacht.
He gets out and starts operating both pumps. One for the boat the other for his rig.
He turns and faces me and he's wearing a dark tee-shirt with a fire department logo and large letters "LAFD."
And just below that was one more line, a little smaller, "retired"
I heard legalizing drugs would fix everything... /s
Just once, I would like someone to explicate the reasoning, if any, behind the distinction being made by the political class between public sector unions and garden-variety criminal conspiracies against the taxpayer.
These organizations have no redeeming societal features, whatsoever - unless one counts as a social benefit that the lowest sort of characters are attracted to these sinecures, and the better sort of person can therefore mostly avoid them by avoiding government offices as much as possible.
There's something to that, I reckon.
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