Tuesday, June 02, 2009

What does a state do when it runs out of money?

California is slated to run out of money on July 29. What does a state do when it runs out of money? Panhandle? Get a loan from the bank? File for bankruptcy?
I am a liberal and I am OK with paying more taxes. I believe those who need a little extra help in life should get it. But I also don't want my money spent frivolously and irresponsibly.
But California (and I am sure many other states) has to make some serious cuts. Schools are already bare bones, kids are hungry and not all of them have health care. There is a possibility of shutting down the poison control hot line. WHAT?
So for all you rich people who don't want to pay more taxes ... open those fancy wallets and designer purses.
I would rather pay more taxes than know that a child is hungry and has no health care. There is something seriously wrong when the richest country in the world has problems like this.


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