I think California’s loony left has struck out this time. Maybe we could balance the budget by selling San Francisco to China lock stock, population, and fancy bridge. Pelosi instantly becomes Chinese. I giggle at the thought.

{^_^}

How much longer til Timmy and Obewon start issuing iou’s for the USA? Maybe we should start a Hotair pool.
Kissmygrits on July 1, 2009 at 11:42 AM

What currency will we need to throw into the kitty? Perhaps Looneys or cans of Spam would be appropriate.

If someone offers to pay me in either Kalifornia IOU’s or in Confederate money, which should I take? Does anyone know?

MB4 on July 1, 2009 at 2:36 PM

The Confederate money. It’s worth something on the collectable moneies market. Duh.

I think Obama knows he can’t bail out an entire state, as much as he probably wants to. The other 49(or 56) states would not take it too well. Especially the red or purple ones.

Doughboy on July 1, 2009 at 12:00 PM

All he’ll have to do is bail out CA, MI, and NY. Then after Acorn finishes “adjusting” the census, those three states will have enough electoral votes to elect whomever they want.

But he’d be sacrificing so many other states in the process.

Doughboy on July 1, 2009 at 1:34 PM

Many of the states that he would be “sacrificing”, wouldn’t have voted for him anyway.

as a native Californian I don’t want the rest of the country to bail us out. I want them to stop spending 5+ billion a year on services for illegals and end the Indian basket weaving council that cost 2.5 million . I am sure there is billions more they piss off every year to buy votes with their pet projects .

Mojack420 on July 1, 2009 at 3:19 PM

Whileb I certainly understand and, if no one is offended, agree Ca. should get bailed out. But please don’t swear in here as there may be very sensitive people on this blog. Thank you

JiangxiDad on July 1, 2009 at 3:20 PM

The administration has to bail out California. Their own legislature or Arnold was probably using it as a threat to get a budget done. I am glad I don’t live in a state that is going to require the Obama administration to help them more than they already have. YET!!

JiangxiDad on July 1, 2009 at 3:18 PM

I think maybe what I heard was just a threat.

Cindy Munford on July 1, 2009 at 3:14 PM

I read that CA has already closed 10 or 11 state parks a few weeks ago. I’ll look for a link.

What will it take to get them to auction off some drilling leases?

MB4 on July 1, 2009 at 2:36 PM

Diversification in a portfolio is key to a safe retirement. Take 50/50. I’ll send u my bill. (Canadian dollars only pls.)

Of course I am not an economist or financier of any type, but it seems to me that state issued IOU’s with interest are essentially bonds, so we should be able to buy and trade them. I smell a great money making opportunity here.

Goldenavatar on July 1, 2009 at 2:11 PM

It may have changed, but last time they were only for specific services rendered to the state…no one would touch them.
However the bank did ignore them on the receivable ratio…so our “profitability” went up, and we paid more taxes…what a fiasco.

pull a Chainsaw Al Dunlop… make 40% cuts in personnel and budgets, and make them figure it out… given how much the budget has increased in the past 8 years, it would be real easy

Goldenavatar on July 1, 2009 at 2:11 PM

of course they’re bonds. bonds are IOU’s. The question is are they worth the paper they’re printed on. The answer is no. Not with the current CA gov’t. It’s like a fiat currency but here the issuer has no legal right to print currency, and thus can’t even pay you back in worthless money like our Fed does. But they’ll trade, just not at par value.

I’ll take some at 50% off par if you have any. I had a small CA tax refund due me for ’08 which I elected to have applied to the ’09 return because I was afraid they were going to pay me an IOU, which I assumed they wouldn’t take back for any tax I owed them for ’09. People will learn how to game the system soon enough.

Democrats wanted to use this plan as a stall tactic in order to convince Californians to back higher taxes revenue rather than make significant cuts in the state budget.

FIFY.

Oh and thanks for the help.
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