Various comments on local issues, events, etc. going on in your home town
 
PortalPortal  HomeHome  SearchSearch  RegisterRegister  Log in  

Custom Search
 

What happens if California files BK?

View previous topic View next topic Go down 
Author Message
BK4Ca
Guest




PostSubject: What happens if California files BK?   Fri Jan 30, 2009 11:54 pm

SACRAMENTO, CA (WFLX) - If budget issues don't get resolved this week, the entire state of California could go bankrupt.

The state controller, John Chiang warns if an agreement to address the state's $42 billion budget shortfall isn't reached by February 1, he'll stop paying unemployment and hand out IOU's instead of legislators paychecks, student loan checks and tax refunds.

The deadlock over the budget put the democrat-controlled legislature and republican governor at odds over spending cuts.

Tax increases and the governor's plan to suspend environmental restrictions so public works projects can get off the ground.

Chiang said, "We are the eighth largest economy; we have the 50th or we are tied of last in the credit ratings. We are a world economic power, but we have fiscal mismanagement in this state."

Governor Schwarzenegger also made a personal appeal to President Obama for federal help.
Back to top Go down
Eddie Haskell
Admin
avatar


Age : Join date : 2008-12-01 Posts : 128 Location : AZ

PostSubject: Re: What happens if California files BK?   Sat Jan 31, 2009 3:20 am

If Cali files BK we have big issues not only with Cali but the entire Nation.
Back to top Go down
View user profile http://www.newtohavasu.com

What happens if California files BK?

View previous topic View next topic Back to top 
Page 1 of 1

Permissions in this forum: You cannot reply to topics in this forum
50 STATES FORUM :: california -
Free forum | © phpBB | Free forum support | Contact | Report an abuse | Forumotion.com