DE CRIZIS VILL END VEN YOU GIFF ME ZARAH KON-NOR!!
We've been lucky here in California. Our state was a direct beneficiary of both World War Two, and the Cold War: Billions were spent on infrastructure in the West between 1942 and 1945 -- better roads, better harbors, power grids and water treatment, and California became the center of the technology and space race; Vandenburg AFB was the Western Missle Test Center (and still is). It's the only point on the North American continent (aside from Cape Canaveral) where satellites can be launched into geosynchronous orbit. The world (and its money) came to Silicon Valley and Hollywood.
But, like so much else in a country taken for a ride by a pack of Oligarchical greedhead Masters Of The Universe, California is broke now. And
The state is now printing IOU's to issue in lieu of, uh, actual money.
[The IOUs] came just hours after a panel of state finance officials set the interest rate for the IOUs at 3.75% for banks and other financial institutions that are willing to accept the vouchers. Some banks have agreed to honor the paper, including Bank of America and Wells Fargo, which will do so until July 10.
Wells Fargo's agreement came with a nudge. "We are reluctant to take this step, but are doing so to help our customers who are not at fault and with the expectation that the Legislature and governor will complete the budget within days," Lisa Stevens, a bank executive in California, said in a statement. (Los Angeles Times)
No matter that sane adults agree: Some combination of reductions in spending for state programs, and raising revenue through higher fees or new taxes, is the only way to balance our state's budget.
However, as a good Republican, Ahnie won't consider that, unless Linda Hamilton (and not her identical twin sister -- Ah-nold can tell the difference with his Terminator Vision, man) is provided to him. Maria doesn't mind.