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Banks refusing Calif. IOUs
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As a Foster Parent I would try to hang on as long as possible, at least we all would eat. I never intended the Family Budget to include any of the Foster Care Money, but over the years it has.
The State Covers their Health Care, they get Free Breakfast and Lunch during the School Year, etc. etc. The problem would be with my stipend and the Bills I owe and services we supply,
I know Foster Parents who would have their kids bags packed in front of CPS the moment they even thought that they would not be paid.
I think most of us would weather the Storm. Some of the alternatives would be far worse. We can eat Rice and Beans if need be.
I will most likely not take in any more and when the two I have leave that would be it. I cannot afford to retire in Hawaii way to expensive.
I would Not live in California.
I think you're missing the point. The point is, it is bad public policy to force banks to accept bad assets as good. CA IOUs are bad assets.
California has become dysfunctional because of a obstructionist conservative minority.
We don't have a democracy where each vote is equally valued. It takes a 2/3 vote to pass our budget. Conservative obstructionist's votes are worth double the value of responsible Californians who want a solution. This voting welfare system shelters conservatives from having to sell their ideas in a free market of ideas. California has a budgetary affirmative action program for conservatives.
We had a 6 billion shortfall when Davis was governor. Davis had a plan. Conservative am radio incited their ignorant listeners to recall Davis. This recall required spending $52,000,000 California didn't have increasing our debt. Their solution was electing Arnold.
The interest on these IOU's is another $42,000,000 in added debt. What is the solution this minority had?
They want to spend another $52,000,000 to recall Arnold.
Californians created this mess by giving this conservative majority an undemocratic advantage.
The moral of this story, is conservatives have no real solutions. They are a party with no ideas and don't care now their actions hurt others.
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