Wednesday, June 17, 2009
Calif. Aid Request Spurned By U.S.
The Obama administration has turned back pleas for emergency aid from one of the biggest remaining threats to the economy -- the state of California.
Top state officials have gone hat in hand to the administration, armed with dire warnings of a fast-approaching "fiscal meltdown" caused by a budget shortfall. Concern has grown inside the White House in recent weeks as California's fiscal condition has worsened, leading to high-level administration meetings. But federal officials are worried that a bailout of California would set off a cascade of demands from other states.
California should secede from the Union, there'd be a short war and then the state would be eligible for reparations.
Seriously, though, how dumb do you have to be to let the world's 10th largest economy (and the largest state economy within our nation) to go into fiscal meltdown??? But that's what Obama is prepared to do!!!
California could also start issuing its own currency. It's economy is big enough and the state has enough employees to ensure that those notes would be of value to vendors and other suppliers of services.