Gov’t Gone Wild! California Defaults on $18.6 Billion Debt, Now Businesses Have to Pay (Reparations Plan In California Could Cost The State Billions)
California just did what Slow Joe Biden and Senate Majority Leader Chuckles Schumer are threatening to do. Biden and Schumer still refuse to negotiate (allegedly) sending the US Federal government careening towards a staggering debt default. The source of both California and US Federal government fiscal problems? Out of control government spending, aka, government gone wild!
Now we have the State of California defaulting on $18.6 BILLION in debt. This is Governor Gavin Newsom (Nancy Pelosi’s nephew) bragging point to be President? Horrible fiscal management and a default?
In any case, California borrowed approximately $20 billion from the federal government to cover unemployment benefits during the pandemic, and with Gov. Gavin Newsom’s recent decision to not pay it back, employers are now saddled with the expense, according to experts.
“The state should have taken care of the loans with the COVID money it received from the government in 2021,” Marc Joffe, policy analyst at the Cato Institute—a public policy think tank headquartered in Washington, D.C.—told The Epoch Times.
In the proposed 2023–2024 budget, $750 million was allocated to start paying down the loans, but Newsom made changes to the plan in January and withdrew the funding. more
i wonder if a regular person would do the same would we still be walking around free? hmmm, yea I thought so.
There are laws to prosecute fiscal irresponsibility.
Charge ALL CA politicians involved, convict them and sentence them to hard time in prison AND as much restitution as the Citizens can obtain.
DON’T let them escape their culpability.
Guess who’s gonna pay?
All of us!!
Grusome Newsom will go to Uncle Suckah and Jackass Joe gladly accommodate!
Anything to loot the Treasury and break the bank… even faster!!
I said years ago that this was the direction that California was taking and here we are… us normal fly-overs will be getting it stuck in our asses and broken off!
Money can’t just “disappear.”
It’s somewhere – if there’s only an agency willing to collect it.
There is a way to account for every penny – hence – a way to track it down and collect it.
But we all know that this is another example of corruption with the tacit consent of the FedGov. $Billions stolen and nobody gives a damn.
Even the taxpayers getting fucked don’t seem to care.
“A billion here, a billion there, and pretty soon you’re talking about REAL money!”
(attributed to Everett Dirksen)
mortem tyrannis
izlamo delenda est …
They were just bragging about the ‘surplus’ that California had.
Horse shit!
We all knew – OR SHOULD HAVE KNOWN! – the “loan” was a gift!
Cal’s credit has not, and will not, BE IMPAIRED!
If you believed it was a loan” you believed the most vindictive, liberal president in history was “A compassionate conservative”!
Bon buyers knew last year it was a gift; as GWB’s “loans” 18 years ago to help Mitt finance RopmneyCare were gifts!
In fact fitch JUST RAISED ITS RATINGS OF CAL BONDS!
What Gruesome did was wrong; but “Bush on Steroids” never expects repayment from Cl. As 17 years agoGWB did not expect mitt to repay!
For emphasis
Fitch just UPGRADED CAL BONDS 1300 PST!
Newsom may plan to flip the script by blaming heartless greedy businesses who refuse to repay their windfalls from Covid bailouts.
As with most things Dem, it’s done with an eye on the next election
Used to be a blog site called “Govt. gone Wild” some dude named Blaze ran it.Right around the time of Bill Whittle fire wall.
Spoiled rich kids gonna con some senile old rich dude to pay his bills and bail him out.
According to the linked article, the debt will be paid back – just not by the California government. The federal government will raise the unemployment insurance rate until the funds are paid back by private businesses.
Pretty soon, there won’t be any businesses left to drive out of California.
Actually, the financials of Crapifornicatia are worse. When the demonRATs stole the 2020 election Crapifornicatia was 25 Billion in debt. Day 1 pedo Joe and the demonRATs in congress gave Crapifornicatia 25 Billion. So, in total, Carpifornicatia has burned through 43.6 Billion.