Posted on 07/21/2011 10:44:10 PM PDT by SmithL
State Treasurer Bill Lockyer will try to borrow about $5 billion for a brief period later this month to prepare for a possible federal "disruption," his office said Thursday.
Lockyer had originally planned to borrow the same amount of money later this year in order to ensure California has enough cash to pay its bills. But his office believes that absent a federal deal to raise the debt ceiling, the state could suffer from a "cash flow disruption and market turmoil" that would leave it unable to cover all operating costs.
(Excerpt) Read more at blogs.sacbee.com ...
25% and not a point less.
Who would be foolish enough to lend CA money? You’ll never see it again.
So do the Freepers in CA just get up every day and say “by God I’ve got great friggin weather and and BTW this quality of life thing is just overrated”?..... inquiring minds and all that....
It would go straight to illegals.
Hey CA, liberal policies for decades have destroyed your state.
Learn to live with it.
I've lived in 8 states, been to about 30.
I've been in over 60 countries.
If there's a better "quality of life" than the Sacramento Valley, I have not found it yet.
Don’t think the feds take IOU’s.
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