California is Going Bankrupt and is 2 Months Away from Running Out of Money and Will Mostly Send Out "IOU"s for Tax Returns

California announces they're going to go bankrupt and be out of money in 2 months. A look at the problems and the possible outcomes, including the state issuing "IOU"s to taxpayers who are due a tax return.

Category:

News & Politics

Tags:

• California
• Taxes
• Gas
• Federal
• Bail
• Out
• Schwarzenegger
• Bankrupt
• Broke
• Spending
• Cut
• Tax
• Returns
• Governor

[GettingtotheTruth2]

California owes me almost $500

(I filed on 2/21/09)

Basically the latest response (2/21/09) was they have NO IDEA when I will receive it and (also according to their website), I will only start receiving interest 45 days after 4/15/09 which means 6/1/09.

Normally, state refunds are processed faster than federal (I received my federal refund today), so hopefully the state refund will come soon.

[GettingtotheTruth2]

Well, I think the stimulus is helping already,

because the latest word today is that returns are now being processed and to "allow 25 business to receive the return."

[GettingtotheTruth2]

I'm not sure where the confusion comes from--aside from people's deep seeded racism.

To keep with the facts, you have to be an American citizen to receive food stamps, social security, medicare and general relief monies. The ethnic breakdown of recipients in the state is approximately 50% African-American, 40% Caucasian and remaining 10% is everyone else (Latino, Asian, South-Asian, Mid-Eastern, Indian).

So the idea to blame illegals for the welfare system is incorrect.

[DARIVSARCHITECTVS]

FUCK CALIFORNIA AND FUCK OBAMA AND CONGRESS! THEY DID THIS SHIT!

Time to flush the Washington DC toilet! POLITICIANS IN CONGRESS: Your days are fucking numbered! We the People are COMING FOR YOUR JOBS!

[gato123452]

why are people blaming California? California is a state not a human blame the people who run the state because you guys just seem like 10 year old stupid idiots

[christschinwon]

Arnie is an economic girly-man

[gato123452]

@DARIVSARCHITECTVS i think the congress is ruled by American people not aliens from other worlds. and i don't think you want to fuck Obama or California because that's a state not a woman. and California is run by retarded Actors from other countries

[HoGraz]

@jamieblond1 I mean it's not on par with California, but problems in red states are never addressed by the media. Oh well we became so great because of FDR but we have to pretend it's our dumbass Volunteer attitude.

[HoGraz]

@jamieblond1 Right. We should blame him. He is a Republican after all. Republicans love to make simple minded correlations this problem in California. I assume the fact they are buying energy from Colorado doesn't help. My state of Tennessee has federally subsidized energy from TVA so we're ok on that. We have good jobs. More unemployment, shittier labor laws, 4th worst education, but we sure as hell have that budget balanced. Oh wait, not. Shit like this never makes news for a reason.

[98770]

@indiasucksalways without very stringent quality checks we would still cannot compete.

[jamieblond1]

California elected an inexperienced muscle-bound egotistical jackass, who earned a living pretending that he's someone else, to be their governor.

What could possibly go wrong?

[nufive1]

California only thrives on what God gave it. It's government thinks itself it God and every dollar belongs to them.

[danielcooper1000]

SBX211