California: Here’s an acronym for ya WTF!?

July 9, 2009 · 9 comments

Oh California, you never cease to amaze me, and by “amaze” I mean continually embarrass the crap out of me. This isn’t my first bitter blogging towards my state of residence, and unfortunately, I don’t think it will be my last. I know this news isn’t hot off the press, but some of you may be unaware that California has began issuing IOUs to it’s creditors. Yeah that’s right an IOU, like what I use to give Johnny in grade school “Dear Johnny I owe you three silver pogs.” Here is a brief snippit from pbs.org that should explain everything you need to know.

After Budget Failure, California Begins Issuing IOUs: The state of California began issuing an initial batch of IOUs for more than $50 million in bills. That’s after Governor Schwarzenegger and lawmakers failed to agree on how to close a budget deficit. That’s projected at more than $26 billion. State offices will also have to close three days a month to conserve cash.

I’m not the first to say it, but what if we, the taxpayers, write California an IOU next tax season? Could you imagine, not only would I get hit with major penalties, I could potentially go to jail, and would definitely lose my job. I’m not a fan of government bending the rules for their benefit and not the people’s.

California, it’s time for you to get on the Dave Ramsey plan, or the I Will Teach You To Be Rich plan, or the Quit Sucking So Bad At Everything You Do plan (made that last one up). It’s time for a change. Deficits, IOUs, and reckless spending need to be a thing of the past.

Do I think this post is going to change anything? Nope, but I don’t care. California needs to be called out for it’s embarrassing financial situation. The California crisis leaves me wondering what is going on in other states? PF bloggers across the country… does your state have any ridiculous happenings? Can ya recommend which states I should consider moving to? It’s about time for this debt ninja to fly the coup and set up shop elsewhere.

*Disclaimer: I have nothing against the state itself. It’s a beautiful place with beautiful people. However, the way it is operated sucks bad.*

1 FB @ FabulouslyBroke.com

I'm not Californian (Canadian actually) but I did have some doubts when I heard CA issuing "IOUs"

I just felt like it was delaying the problem and they should have faced it head on instead.

Oh well. Maybe now's the time they'll all turn around and start chopping back on useless old programs or inefficient ones that use too many resources for very little output?

One can dream…

2 David

Georgia has been delaying paying tax refunds for as long as possible… if they had waited another week or so on mine (and presumably hundreds of thousands of others), they would have had to pay interest on all the refunds, wasting another couple million.

I'd be pissed if I got an IOU. I read that banks won't cash them, and the SEC may have to get involved and regulate the sale and trade of IOUs.

3 Donnie

Get rid of Prop 13, 2/3 majority for higher taxes, and initiative and referendum system and California would be good to go.

The general problem is that the legislature and the people can pass all the programs they want at a simple majority, but any way to pay for those programs must pass with a 2/3 majority, which obviously doesn't happen.

4 Jesse

I have said before I used to live in Cali but I was too young to have to deal with any of this.

Now I live in Utah and it seems the state throws around a ton of money, some for no good reason. I hope they are not following in Cali's footsteps and getting us into a deep hole.

No where else have I ever seen 3-4 cops at a simple traffic violation or speed violation, and not just once in a while but EVERY time i see someone pulled over, there are multiple cops there. There are so many cops and so little crime they just get bored and are wasting taxpayer money.

5 Jason R Fisher

I had read some time ago that several states were looking at IOUs for their tax refunds. Wouldn't that be nice.

Ohio has their first temporary budget in 23 years and looks the the casino's may finally get in.

6 Jeff

I suggest Wyoming. Currently, there is no housing problem, the government's running a surplus, and there's no traffic jams.

7 Punch Debt In The Face

@ FB – Dream is about all I can do right now to stay sane.

@ David – Yeah I've read the same about the banks and the SEC. I also read that the IOUs are actually selling on ebay. Some people are weird and are excited for 'em I guess.

@ Donnie – Yes, the CA governmental system is, shall we say, not the most efficient :)

@ Jesse – Too many cops huh? I guess it will keep the donuts shop in business.

@ Jason – I'll be curious to see if other state's follow the California example, let's hope for their sake, they don't have to.

@ Jeff – Wyoming it is then, can I stay on your couch?!

8 HighClassLowIncome

I've lived in CA for my whole life and now that I'm old enough to care I agree with you about being embarrassed by the choices our state makes! Lots of things seem to simply amaze me, like for example.. sending out tons of cops for the MJ memorial then asking for donations later?! There are a lot of pretty important things here (like education..for example) that we are way too broke to even fund… kind of sad.

9 gwenavyre

I've been reading on another blog that AZ is having the same issues, but maybe not quite as huge.

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