Thread: L.A. controller warns that city could exhaust general fund next month [Updated]

L.A. controller warns that city could exhaust general fund next month [Updated]



This will be interesting. I do not think the state can bail them out, I believe loans will be too expensive, so that leaves pension funds, if they are protected. If pension funds are not, there are going to be a lot of pissed of state employees.

[quote name='william the wierd' date='05 April 2010 - 08:45 PM' timestamp='1270525511' post='136710']

The state is going belly up as well and the state is losing people and jobs.

[/quote]

I am going to request we add alligators and mines to the Columbia River, maybe take down the bridges. The last thing we need is South Central here.

[quote name='patrickt' date='06 April 2010 - 08:47 AM' timestamp='1270568839' post='136787']

The state is going under, too, so they aren't in a position to bail out anyone. California raised the withholding on state income tax to get capital and now that it's time to give the money back they want to use IOUs. And, the state legislature is spending billions more.



Unfortunately, this is the blueprint for Washington.

[/quote]

Soon I expect CA to erupt, and the cops better take heed, their pensions, gone, everything is gone, they are on our side.....

California's $500-billion pension time bomb



Like I said...



Hey they could do what the federal government wants, invest the funds in failing banks....good god, what a country.