(SNIPPET)
"I don't know what's going to unfold here, but it's not going to be good," Williams said.
Arizona legislators have not been able to resolve the budget crisis, and our state could be weeks away from running out of money.
That means having to issue IOU's to everyone.
And it's not only state workers, but also those who provide services, such as child care centers.
For instance, about 70% of the children at Outer Limits School in Tucson get a state subsidy.
Owner Bill Berk said the crisis could be devastating to his industry.
"We can't give our employees IOU's for their paychecks. We can't give the electric company an IOU," Berk said.
Representative Williams hopes to be able to work something out with banks so they'll accept the IOU's, but he knows that can't last forever.
LINK HERE
Pretty soon it will all be trickling down. We can't slough off the problem forever. Eventually companies will not want to or be able to hold out for IOU's forever and will be forced to not continue to do business with the state or close their doors. I predict things will break down and then there will be a period where legislature and certain businesses reach agreements in order to maintain a semblance of normalcy and for necessary services to continue.
ReplyDeleteIt's like the Titanic. How many compartments can flood before the ship reaches a tipping point? Does the US collapse when it has to bail out five states? Ten states? Forty states? I don't know, but I know that mathematically speaking, our nation will collapse.
ReplyDeleteThe feds better not start bailing out states or they all will expect it. The tough cuts have to be made just like with a household. Unlike California I think Arizona and most states have a balanced budget amendment at least so they dont keep piling it up year after year. I have heard they are going to have some of that 170 billion or so (spending out of control) go to the states but this extend and pretend is just making the coming depression worse in the long run.
ReplyDeleteKIlla Kali and now Arizona with IOUs. Sheeesh....
ReplyDeleteI agree with the first three statements & all good points but Can you believe 70 % -----
ReplyDeleteSeventy percent of these kids get a subsidy from the State ??? That can only mean that their parents are on the dole too in some form/s.
I have said it here before people; 1/4 of our population is pulling the wagon; and it's getting HEAVY.
Gee - isn't this the state that is home to ------
ReplyDeletewait for it -------------------------------------
John McCain ?????
Didn't I hear him not that long ago give a 25 min. orientation on why his " economic plan was better".
They are ALL hypocrites - ever one of them liars and cheats.
We are Soooo screwed we don't even know
I can't wait - but I'll bet you a worthless dollar that they somehow slink out of it & somehow slither down the road.
ReplyDeletePennsylvania did it; Michigan did it; New York did it; California - shit; they been doing it for 3 years.
I know something bad is coming down the pike - but it's so interesting how these politico types can get just a little greasier; a little slimier they can practically wormtheir way out of anything. Don't you hard working people at home try any of this lest you end up ---- in jail
Amazingly enough the IOU's may point to the solution -how? Because IOU's could transform and become script type money replacing the Federal Reserve Note (US Dollar).
ReplyDeleteThe government wants 100% of the people to be dependent upon the government so it can then control your life and in return for your gov paycheck you will give up your rights.
The movie "America Freedom to Facism" had the right name watch it on YouTube.
My suggestion, call Sheriff Joe Arpiao and put him in charge of purging the state of all the illegals. That should drop the subsidy rate from 70% to (I'll bet) 20% or less.
ReplyDeleteWhen will these western states governors wake up and admit these people are illegal aliens and not "Undocumented Democrats"!
There is no doubt in my mind that in this year or the next that the govt will bailout the states. they will not allow the states to collaspe and bring down the economy. so they will print more money to bail them out, the thing is they won't call it a bailout but "federal lending" to save teachers and jobs. but all the while its devaluing our currency. but the dollar will have its last hurrah because the euro will be in trouble this year because of the sovereign debt crisis. so perfect time for a dollar rally and more bailouts. so expect state bailouts very soon.
ReplyDeletewonder if Chase will accept an IOU from me in lieu of actual greenbacks for my mortgage payment in the near future?? lol.... not.
ReplyDeleteOdds are that the Feds have already been bailing out California behind the scenes and other states soon to follow. The key thing is for public perception to be managed so things appear better then they are. The reality appears to be that the Banks, the Federal Government, and many others are already insolvent of bankrupt. What backs up the USA Dollar and all other countries fiat money? Nothing. Except maybe the taxpayers (slaves) and they are now losing their jobs. If public perception sinks then so does the US dollar and all other fiat money. At that point those holding paper money will LOSE BIG TIME. Look what China is doing buying up physical things and telling their people to buy gold/silver why? Because if their people's money is worthless they will have a billion people rebellion but if they have gold/silver then less chnace of big rebellion.
ReplyDelete6:50 then maybe we can start with the purging of the jews, huh? Because I know you aren't referring to illegal Canadians or Latvians. Do you know what's illegal? The whole system to begin with. Whenever people get it through their thick skulls they wont be crying about democrats and mexicans as the end all be all problem.
ReplyDeleteWe can get out of this depression which...this is...absolutely....without a doubt. It is assured to last 10 years and worsen, to an extent of second world status..missing third world until 2075 when we might have our commupans looking like Bangladesh or Calcutta on a good day for most of the country. Princes,Barons and Shieks? Is this what is to be allowed to happen? We must work together to stop this dissintegration, but alas we are way way too selfish and self centered to be able to form a human chain,instead of vampire individuality. But people are not aware enough to care and the dollar stops there as the rich filter the poor to form one mud puddle sure to be more like quicksand. Lets pray there is some form of awareness to all the real Gods (and the One that Is!) and not the acetate politicians...their pockets are filled. Go to church (not the temptations of religous clubs)..talk with the Parson! Friggin..Love one another! Have real values for real persons! Remember what ever green you make on your Earthly lawn..be it cash or crazy...money, luxury or title...you cant take it with you! It aint gonna be there in heaven when you arrive! Good deeds are just about the only goodness and future you can really truely be honored for! Kindness and Trust and helping one another speak for true Earthly Kings.
ReplyDeleteIm not talking about Phoenix or smaller towns in Arizona, but in fact I maybe. Challenged by economic difficulty and (rather desperate) I could not think of places that would be more difficult to live.
ReplyDeleteSedona. A place where all I wanted to do was work, and labor living a very little life common to many here as they pay 1/4 what it takes to live with no incentive and no jobs available. Unfortunately there is nothing here, not having a roof over my head, and many here who have seen exactly the same terribly desperate as no one up here cares and im talking about old and young, and many invisible homeless living in their cars. I wish I could say more. Challenged in the midst of it all to leave this place.
Aside from an unstable budget, or lack of, illegal immigrants are destroying Arizona's fiscal economy. 57% of healthcare is spent on illegal aliens for hospital expenses and the massive amounts of babies beibg born by mothers . Unfairly legal citizens are taxed to compensate for the lack of. Arizona is screwed up.
ReplyDeletegreat post
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