Friday, January 16, 2009

The Good Ship Lollipop Sinks


"Titanic"

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.


3 comments:

Jeanne said...

We got out just in time. Literally. I miss Cali but I don't regret moving and it's looking better and better all the time. Not that AZ doesn't have it's problems - it does. But yikes.

Happy Hour...Somewhere said...

Hopefully, that will stay true but Arizona was hard it by the housing bubble which is affecting so many banks and now the commercial real estate bubble is about to pop. I hope you did not have any money due you for a tax refund~!

Julie said...

Shirley Temple is rolling over in her grave!