Ah the next Barry bail-out...Kalifornia

[dude1394]

Hmm...aren't we supposed to be emulating Kalifornia across the land? Oh yeah...I think we are...

I can't decide which will be first, GM or Kalifornia. I expect Kalifornia as he can just throw money to back their junk bonds...then GM...there's a UAW membership to protect there and that will require some finessing.

19 May 2009 05:48 pm
Is California Too Big to Fail?

So what about California? A reader asks. Ummm, that's a tough one. No, wait, it's not: California is completely, totally, irreparably hosed. And not a little garden hose. More like this. Their outflow is bigger than their inflow. You can blame Republicans who won't pass a budget, or Democrats who spend every single cent of tax money that comes in during the booms, borrow some more, and then act all surprised when revenues, in a totally unprecedented, inexplicable, and unforeseaable chain of events, fall during a recession. You can blame the initiative process, and the uneducated voters who try to vote themselves rich by picking their own pockets. Whoever is to blame, the state was bound to go broke one day, and hey, today's that day!