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  • California Misses Budget Deadline, Readies “IOUs”

    Reuters
    Wednesday, July 1, 2009

    California’s lawmakers failed to agree on a balanced budget by the start of its new fiscal year Wednesday morning, clearing the way to suspend payments owed to the state’s vendors and local agencies, who instead will get “IOU” notes promising payment.

    The notes will mark the first time in 17 years the most populous U.S. state’s government will have to resort to the unusual and dramatic measure.

    Democrats who control the legislature could not convince Republicans late Tuesday night to back their plans to tackle a $24.3 billion budget shortfall or a stopgap effort to ward off the IOUs.

    The two sides agree on the need for spending cuts but are split over whether to raise taxes. Democrats have pushed for new revenues while Republican lawmakers and Governor Arnold Schwarzenegger, also a Republican, have ruled out tax increases.

    Full article here

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    44 Responses to “California Misses Budget Deadline, Readies “IOUs””

    1. truth911 Says:

      fema campers delight . its a very sad day when they our useless criminal government can spend , god know how much on wars and waste just as much and then cut off the poor first i hope they realize hell is not air conditioned and their aint no beaches their either

      MusterX Reply:

      California is a giant turd. I hope you realize they did this to themselves. They spent and spent and spent until they went bankrupt. In a real world there are consequences for acting stupidly pal.

      hmm... Reply:

      MusterX is correct Sir! Pretending (acting) to be stupid carries grave consequences (it’s in the good Ol’ German Constitution)..!

      However.. Established and universally accepted stupidness on the other hand is always gravely rewarded by the Police-States.

      Dictators and Emporers agree… Gun Control Works.

      hmm... Reply:

      *Emperors.. Oops. Poop- People Order Our Patties

      rik thomas Reply:

      yeah, like the united states. only this is an organized plan. unfortunately the idea of moral fibre disagpeared years ago and was replaced by the mass control spin.

      william b travis Reply:

      these fucks in california are counting on obama to send
      your tax dollars to bail them out
      fuck california give it to mexico
      dear mexico please take this mess off our hands
      after all you helped create it

      Fuck Andre Jackson Reply:

      Listen here william b travis you cousin fucker, without california (the WORLDS 8th LARGEST ECONOMY) the US with slide into the shit hole that awaits them. If California goes down, ALL OF THE US GOES DOWN. Remove your head from your ass n take your dick out of your sister you stupid fuck

      meanjean Reply:

      Thanks for defending us, Andre, but your points would be better taken if you cleaned up your language. You are perceptive and intelligent. Have a care.

      Madman Reply:

      California is a gauge for the rest of the US economy…
      All the Illegals drained it dry, along with mismanagement so… it will go down.
      The rest of the US will follow shortly, if they continue the same practices that California did, and supports 10 million illegal workers, while the tax payers suffer.
      Illegal immigration and Nafta / Gat, etc… all the reasons we are here, not housing markets, the mass export of American jobs to third world countries, and the replacement of American workers with illegals, it just took it a few years of anchor babies to show it’s self as a huge enough burden to destroy California.

      A CAll TO ARMS Reply:

      I live in california and i know how bad this state messed up all the money that it spent but there are so many people on here that just want to write the state off saying thats its our fault. well its not everyones fault. you can blame the government but u can not blame all of the people. If that was the case then what makes your state any better. Every state has let the federal government screw them over. do you think that because your state is not out of money that you are doing well. we all have to stop blaming each other organize and do more then talk and fix the whole of the country

      It is just stupid to think that you can do it alone

    2. LRRP 1968 Says:

      They did it to themselves. No sympathy. If you want all the governmetn free goodies you have to pay for them, no pay no goodies.

      What I’d like to see is the state withhold all the federal gas and other federal excise tax skim payments to DC and instead issue the state bonds and IOU’s to the federal government.

      After all didn’t the Treasury Secretary once say that government bonds are good as money?

      pitofdoom Reply:

      Now that’s a plan I like!!

    3. paul lesterfield Says:

      what i’d like to see is a N Korean missile take CA off the globe.

      meanjean Reply:

      Thanks, pal, I live in Hollywood and have to put up with this garbage. CA is being used as a test case for the rest of the country. You will be next, Paul.

      Paul Lesterfield Reply:

      That’s your problem. I don’t live in the United Shithole of America. I do have to work in this cesspool sometimes. America has a lot coming to it and the bill is due, long over due. It’s going to be a pleasure to watch the crumble.

      Fuck Andre Jackson Reply:

      Dear Paul Lesterfield,

      You are the biggest retard I’ve seen on this site. When America falls so does the rest of the world so enjoy the dick in your ass. DUMBASS

      Fuck Andrew Jackson Reply:

      FUCK YOU paul lesterfield, I hope you enjoy the dick in your ass that you are going to receive

      LRRP 1968 Reply:

      Rather it be DC.
      I like California. DC is the parasite, get rid of that and the whole country will vastly improve.

      rik thomas Reply:

      amen.

      Paul Lesterfield Reply:

      HaHaHaHa, you Americans think the rest of the world will fall when your shithole is destroyed. Think again, your country is already gone and most other countries around the globe are becoming stronger and more financially sound. America is being replaced in education, wealth, might, etc. and you think the rest of the world will fall? America is borrowing all her money from Communist countries and you think the rest of the world will fall with America? This sort of ignorance in the people is the reason America is were it is. Couple that with ignorant, greedy politicians and you have one pile of diarrhea.

      william b travis Reply:

      yeah and dc too

    4. Matzo Man Says:

      Hey, can I pay all of my bills with “IOUs” too? TURN THEIR ELECTRICITY OFF.

      Don’t be fooled by CA government. It’s got lots of dough! They just don’t have to tell YOU about it:

      http://cafr1.com/

      Dee Scent in 2 tear in knee Reply:

      the money that they print at the treasury is counterfeit too..so what the L is the dif between the IOU’s and FRN’s?.. its all worthless fiat paper?

    5. Michael Smith Says:

      I O U ? That funny. Can they get interest and penalties like the IRS? Come check out the advanced NWO wake up sight.
      http://www.thegrandawakening.com/index.html

      meanjean Reply:

      Hi Michael. Will check out your site. Please you check out http://www.nylonmanden.dk and read the articles of Philip Jones. He has done years of research. He is also published on Rense.com.

    6. Linda in RI Says:

      Ya think Illegal invasion had anything to do with it?

      meanjean Reply:

      It has everything to do with it, Linda, but they are in every state of the union. What’s it like in RI?

    7. STARMAN Says:

      FOR OVER 50 YRS STRAIGHT THERE HAS BEEN A MASS POURING INTO CA

      NOW IM GONNA GO AHEAD AND SAY IT THERE WILL BE A MASS EXODUS FROM
      CA TO FLORIDA ,NEW MEXICO ,GA COLORADO , AND YES EVEN TEXAS

      CA MAY NOT EXIST UNDER ITS CURRENT FORM IN LESS THAN 10 YRS

    8. MADD HATTER Says:

      SOMEBODY GET THIS FOREIGN PIECEOF CRAP OUT OF OFFICE ALREADY, HASENT HE DONE ENOUGH DAMAGE ALREADY. THEY CALL HIM THE FREAKIN TAXANATER FOR CRYING OUT LOUD .

    9. pitofdoom Says:

      California is just the front edge of the global Titanic II
      running into the iceburg called Wisdom!!

      Titanic I was novel, but Titanic II is just a much shittier re-run!!

    10. mercman Says:

      “I will gladly pay you tuesday for a hamburger today”

    11. poopaganda Says:

      THE AUSTRIAN PRIME MINISTERSHIP IS WAITING .. YOUR JOB IS DONE. YOU WRECKED CALIFORNIA NOT MUCH TIME ‘TO GET TO DE CHOPPA’ ARNY.

    12. James Says:

      Illegal immigration and outsourcing of jobs is what KILLED California and nobody talks about it! California has been a TARGET of the Globalists because she WAS the 7th largest economy in the world. Now she’s a third world whore who would rather die than be labeled a racist. We have been conditioned into thinking that protecting the sovereignty of not only a state but the whole country is RACIST! Then our NEW neighbors push us out of our jobs and communities and DEMAND THEIR RIGHTS! HEY ARNOLD, YOU LET US DOWN! AND IT WASN’T ACCIDENTAL, YOU DID THIS ON PURPOSE! JUST TO SHOW YOUR INTERNATIONAL BOSSES THAT YOU “kAN dO iT” YOU AND OBAMA ARE THE FIRST IMMIGRANTS THAT SHOULD BE SENT BACK TO THEIR OWN COUNTRY WHERE THEY WERE BORN. LEAVE US ALONE!!!!!!!

    13. pitofdoom Says:

      California is a mirror of things to come for many many more….

      meanjean Reply:

      You are right, pit. CA is the test case for the Elite agenda to destroy the west and depopulate and enslave us all.

    14. tahoebumsmith Says:

      California is the 7th largest economy in the WORLD! When California goes down so will the rest of the country. I read all this crap about how California deserves this because they all lived beyond their means? Consider this FACT! California was taken down by WALL ST? The more mortgage backed securities Wall st sold the more homes were built in California. The more homes sold the higher the prices went up. The higher the prices, the more creative financing became. It was a cycle that fed Wall St. their profits. They would call up their pals at Pulte homes or Toll Brothers and say we need another town! Guess what a week later a new town was born, Lincoln, Stockton, Merced,Mountain House, Folsom, Fresno, El Dorado Hills, Auburn,…you name it the town was made for WALL ST. As the value of the homes went up, Californians would take out home equity loans and buy boats, patio furniture, fancy kitchens, pools, RVS, You name it they bought it in BULK! California supported the rest of the country with their lavish spending. Now that the WALL ST. HOUSING PONZI SCHEME has come crashing down the rest of the country blames California for the bust? Well I hate to tell you but it was WALL ST. and all the CRONIES that took down California. California was used as a desireable place for the plan to take place. Who would have bought a track home in Ohio? Iowa? Newbraska? California attracted the dreamers in masses and they all took the bait and got a fork stuck in them. Now the homes are worth 50% less and people are losing their dreams. They were set up to fail all because of the greed of the PEOPLE WE ARE CURRENTLY BAILING OUT, WALL ST., BANKS, AIG, ECT…ECT… Californians fell subject to a corrupt system that needed them to fuel their scheme. Now that the whole bubble has popped it will take out all the other companies that expanded on the spending in California. Just wait and see what happens when the 7TH LARGEST ECONOMY in the world stops spending? Can anybody say OWNED? Remember that 73% of our national GDP is consumer spending? Based on that fact alone you should get a better picture of the real demise of California!

      meanjean Reply:

      Paul Lesterfield, take note of what tahoe. The Illuminati agenda is to destroy the west, including Europe and impliment their New World Order. Depopulation and mindless slavery of the rest of us, and complete power is their ultimate goal.

      Paul Lesterfield Reply:

      and the people of the West will allow themselves to be herded and murdered by greedy, power hungry filth? is that what the people of the West were put on Earth for? do the people of the West give such low value to their lives that they would let another human being do this to them without a fight? AMAZING!

      Not On My Watch Reply:

      The People of the West are are fortifying and Putting Ammunition Dealers into High Gear.I can’t go beyond that lest I end up like Hal Turner.

      meanjean Reply:

      Paul, who said we are “allowing” ourselves to be herded and murdered???? They have all the guns, Active Denial Systems and bombs. All we can do is resist as best we can. And when they come for you, and they will, what will you do?????????????

    15. The Transmogrifer Says:

      Dear Readers, I have lived in California for 60 years. You can say what you want: good or bad. All revenue from state taxes and fees etc. go to the Fed first, then the Lincolnian fucking USA Inc. gives back what it pleases to ass lickers here. The plan is to destroy America by design, just as Mr. Jones says. The Terminator hangs with Illuminati murderers like Buffet and Rothschild and has openly admitted to aspirations of being a dictator himself. Hell, you can google a nice picture of those fatherfuckers together. Here’s the topper, the IOUs ended up fucking the government in the end (17 years ago) as they were sold and given back to the state instead of tax money. Hell, they could not refuse it and that ended the whole stupid mess. American’s can never pay off the National Debt and are slaves to USA Inc. via birth certificates. FDR said fuck the Constitution, I’ll sell the country and everyone in it ’til the end of time in 1933!!!

    16. warren buffett Says:

      I met Arny once, he was cleaning my pool and sniffing my stool.

    17. Not On My Watch Says:

      Don’t be economic GURLYMEN!!!!! Recovery is still Possible!

      Yes it was a Joke…………….. Maybe YOU might be screwed , but I prepared.See you on the Battlefields. :-D

    18. required name Says:

      Schwarzenegger looks like a madman in that picture.


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