California Is Broke!
Posted on February 3rd, 2009 by MoverMike
The Raw Story is reporting that California goes broke. The state has a $40 Billion budget gap and the legislators failed to take action to solve the crisis. Until the crisis is resolved “…residents won’t be getting their state tax rebates, scholarships to Cal Grant college will go unpaid, vendors invoices will remain uncollected and county social services will cease.”
“Some 46 states face budget shortfalls, forcing them to slash funding for many services,” reported CNN.
Oooh. How can that be? California on it’s own is the world’s 5th largest economy. They’re much to big to be allowed to fail! We must bail them out! Harrumph! Harrumph!