It's begun. States are bankrupt. [news item]

[samoth]

My Way News - Calif. tax refunds to be delayed starting Feb. 1

---------------------------------------------------------

Jan 16, 3:40 PM (ET)

SACRAMENTO, Calif. (AP) - California's controller says he will begin a 30-day delay on tax refunds and other payments starting Feb. 1 because the state is running out of money.

Controller John Chiang said Friday he must delay $3.7 billion in payments next month because lawmakers have failed to address California's growing deficit.

With a $41.6 billion shortfall over the next year-and-a-half, the state is on the brink of issuing IOUs.

Chiang says his office must continue education and debt payments but will defer money for tax refunds, student aid, social services and mental health programs.

A severe drop in revenue has left the state's main bank account depleted. The state had been relying on borrowing from special funds and Wall Street investors; those options are no longer available.

-------------------------------------------------------

 

[Bikini Mod]

Oh, so does that mean that I can send the state (or the government for that matter) an IOU instead of paying my income tax?

 

[GDF]

I think there are only like three states in the union that are solvent. We are screwed...

 

[Raptorex]

Maybe if their Senators and Reps spent some time worrying about the state they represent rather than tearing down the good ole USA, things would be a bit different.

No sympathy for the idiots that elected them, including arnold.

 

[mrplunkey]

California spent themselves into oblivion and now non-CA residents are supposed to save them.

That makes a ton of sense.

 

[Raptorex]

California spent themselves into oblivion and now non-CA residents are supposed to save them.

That makes a ton of sense.

Their legislators in the US Congress are a who's who in socialism...fuck em, and arnold too...

 

[guest username]

This is why people shouldn't have more taxes held just so they can get a refund at the end of the year. If you can't save money yourself, then you deserve to have the government hold your money longer or not repay it at all. Seriously, it's a free loan given to the government.

 

[Stefka]

fuck em, and arnold too...

omgomgomg
Blasphemy!!!

 

[ortiz34]

silicone valley my arse

 

[Razorguns]

Do you konw how many POOR people are in california? You know, illegals, welfare, crack addicts, you name it?

do...the...math...

Ya know, I think it's just "coincidence" that the state with the largest amount of illegals - is bankrupt. That's just coincidence I'm sure

"But they're coming here to do the jobs you don't do!". lol. Ladies and Gentlemen, we now have the final conclusion. Where's the pro illegal crowd now? Let's pay for some more mexican babies and heart transplants!! Woo Hoo!

r