Friday, January 16, 2009
Well, folks, it looks like the Good Ship Lollipop known as California is going down. The State of California is going to suspend tax refunds and welfare checks, grants to students, etc. You have to read the article from the Los Angeles Times.
"The payments to be frozen include nearly $2 billion in tax refunds; $300 million cash grants for needy families and the aged, blind, and disabled; and $13 million in grants for college students." (Evan Halper.)
Wow. I have been reading the economic websites and have seen this shipwreck happening in slow motion. It is scary to see it finally hit the iceberg. Trillions of dollars will be wasted trying to save the ship.
I cannot imagine what the next six months will look like.