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California IOUs
Tweet Topic Started: Jul 7 2009, 01:29 PM (76 Views)
brumdog44 Jul 7 2009, 01:29 PM Post #1
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Surprised that no thread has been started yet on this. I'm still trying to get up to speed on it.

The one thing that pisses me off is that it is against law to do pay government workers with anything besides actual real dollars. Unemployment rate in California is 11.5% (with probably 60% of those looking for acting gigs). Not only are government workers affected, but vendors, especially small ones who can't take the disruption in cash flow, could be forced to close shop. It's not clear yet whether banks will accept these IOUs as cash or, if they do so, will charge a fee for the risk they run.

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HoosierLars Jul 7 2009, 02:17 PM Post #2
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It's too depressing to think about because B.O. is putting the entire country on a similar, unsustainable spending trajectory.
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troubleatiu Jul 7 2009, 02:21 PM Post #3
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brumdog44
Jul 7 2009, 01:29 PM
Surprised that no thread has been started yet on this. I'm still trying to get up to speed on it.

The one thing that pisses me off is that it is against law to do pay government workers with anything besides actual real dollars. Unemployment rate in California is 11.5% (with probably 60% of those looking for acting gigs). Not only are government workers affected, but vendors, especially small ones who can't take the disruption in cash flow, could be forced to close shop. It's not clear yet whether banks will accept these IOUs as cash or, if they do so, will charge a fee for the risk they run.

um, i mentioned this at least 3 monthes ago. no one was interested then, they probably arent now either.
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brumdog44 Jul 7 2009, 02:55 PM Post #4
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HoosierLars
Jul 7 2009, 02:17 PM
It's too depressing to think about because B.O. is putting the entire country on a similar, unsustainable spending trajectory.
Yeah, California governor Barak Obama has totally destroyed California.

When you get done with your democratic blame pity party, let us all know. The rest of us will be out in here in reality where there is more than enough blame to share.
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Mr Gray Jul 7 2009, 03:35 PM Post #5
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brumdog44
Jul 7 2009, 02:55 PM
HoosierLars
Jul 7 2009, 02:17 PM
It's too depressing to think about because B.O. is putting the entire country on a similar, unsustainable spending trajectory.
Yeah, California governor Barak Obama has totally destroyed California.

When you get done with your democratic blame pity party, let us all know. The rest of us will be out in here in reality where there is more than enough blame to share.
brum, no partisan attack here, but I do agree that the Federal Government seems to be emulating the spending patterns that have caused so much of California's problems. It isn't like this is the 1st time this has happen in Cali....every few years they are out of money it seems. If the same thing happens with the federal government, who is going to bail them out and who would accept those IOU's?
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HoosierLars Jul 7 2009, 05:01 PM Post #6
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brumdog44
Jul 7 2009, 02:55 PM
HoosierLars
Jul 7 2009, 02:17 PM
It's too depressing to think about because B.O. is putting the entire country on a similar, unsustainable spending trajectory.
Yeah, California governor Barak Obama has totally destroyed California.

When you get done with your democratic blame pity party, let us all know. The rest of us will be out in here in reality where there is more than enough blame to share.
Sorry Brum, but my statement wasn't partisan. The last time I checked, Arnold had an R by his name.
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brumdog44 Jul 7 2009, 11:17 PM Post #7
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Funny, you didn't bother to mention Arnold until you were called out.
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HoosierLars Jul 8 2009, 12:05 AM Post #8
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brumdog44
Jul 7 2009, 11:17 PM
Funny, you didn't bother to mention Arnold until you were called out.
I will call out all politicians who are fucking up, regardless of party affiliation. I lived in Calif for 11 years and know how fucked up the political climate is there. Arnold is what you call a RINO.
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