Article

2010-01-30 Economy

California controller: State will run out of cash before April

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Posted by Fred 2010-01-30 00:00|| || Front Page|| [6 views ] Top

#1 Frequently Asked Questions about Registered California Warrants (IOUs)

The State issued 450,000 IOUs worth $2.6 billion between July 2 and Sept. 4, 2009 when the IOUs matured. Please note that IOUs stopped accruing interest after Sept. 4.

Read the information at the link

Posted by Zenobia Slineger4067 2010-01-30 08:53|| 2010-01-30 08:53|| Front Page Top

#2 Hope nobody here got stuck with a Caliphornia IOU - they're gonna default.

Posted by Barbara Skolaut 2010-01-30 15:12|| 2010-01-30 15:12|| Front Page Top

#3 It gets better:

California Democrats this week resurrected a $200 billion-a-year state-based single-payer health insurance bill. It calls for merging the state's public and private health insurance systems into a single California-run agency. All Californians would be eligible for insurance coverage with the poor receiving subsidized benefits.

The bill does not spell out how California would pay for a program that would cost more than twice the state's $85 billion general fund. That would be left up to an appointed panel and ultimately, voters.

"What my Republican colleagues don't want you to know is that there is absolutely no cost to the general fund from this bill," Sen. Mark Leno, D-San Francisco said. "The bill states very clearly that there will be no implementation until there is a determination of sufficient independent funding."

Posted by Pappy 2010-01-30 18:57|| 2010-01-30 18:57|| Front Page Top

#4 "'What my Republican colleagues don't want you to know is that there is absolutely no cost to the general fund from this bill,' Sen. Mark Leno, D-San Francisco said."

And then he had trouble getting his nose out the door....

Posted by Barbara Skolaut 2010-01-30 19:13|| 2010-01-30 19:13|| Front Page Top

#5 Related to Jay?

Posted by Nimble Spemble 2010-01-30 19:16|| 2010-01-30 19:16|| Front Page Top

#6 Reading the article from payy's link, it seems the D's still don't have a clue about how they got in the budget mess; by subsidies. And this bill would continue down that same road.

Hope the CA-Burgers are making plans to haul ass when the state defaults. Or enough ammo to protect what you got stashed.

Posted by USN, Ret. 2010-01-30 23:06|| 2010-01-30 23:06|| Front Page Top

23:47 AzCat
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