CALIFORNIA BROKE~Controller Announced Jan.26 Residents Will Recieve IOU's

[peaceandlove]

Page #2, Post #34 Californians Scrapping, Squating and Stores Closing Down, 15,000 Show Up For Tax Revolt
Page #2, Post #29 California Dreamin' (meltdown)
Page #2, Post #27 California Counties Begin Secession
Page #2, Post #26 2/21/2009 Grocery Stores Begin to Close in California FOX News
Post #25: 2/13/2009 California State Budget CBS NEWS
Post #24: 2/9/2009 Counties brace for missed payments from state
Post #20: 2/5/2009 NEW
Post #14 FOR UPDATED INFORMATION REGARDING THE ISSUING OF IOU'S ~ CALIFORNIA BROKE


John Chiang announces that his office will suspend $3.7 billion in payments owed to
Californians starting Feb. 1, because with no budget in place the state lacks sufficient cash to pay its bills.

LOS ANGELES TIMES

By Evan Halper and Patrick McGreevy
January 17, 2009

Reporting from Sacramento -- The state will suspend tax refunds, welfare checks, student grants and other payments owed to Californians starting Feb. 1, Controller John Chiang announced Friday.

Chiang said he had no choice but to stop making some $3.7 billion in payments in the absence of action by the governor and lawmakers to close the state's nearly $42-billion budget deficit. More than half of those payments are tax refunds.

The controller said the suspended payments could be rolled into IOUs if California still lacks sufficient cash to pay its bills come March or April.

"It pains me to pull this trigger," Chiang said at a news conference in his office. "But it is an action that is critically necessary."

The payments to be frozen include nearly $2 billion in tax refunds; $300 million in cash grants for needy families and the elderly, blind and disabled; and $13 million in grants for college students.

Even if a budget agreement is reached by the end of this month, tax refunds and other payments could remain temporarily frozen. Chiang said a budget deal may not generate cash quickly enough to resume them immediately.

Article Continues Here:
http://www.latimes.com/news/local/la-me-budget17-2009jan17,0,4472460.story

[peaceandlove]

California faces insolvency within 3 weeks.

Thu Jan 15, 2009 9:06pm GMT

SOURCE: Reality Zone ~ G. Edward Griffin
http://www.realityzone.com/currentperiod.html

By Jim Christie

SAN FRANCISCO, Jan 15 (Reuters) - California Gov. Arnold Schwarzenegger said on Thursday the state "faces insolvency within weeks" and that he will put new policies on hold until there is a deal with lawmakers to close the budget gap, which will top $40 billion over the current and next fiscal year.

"It doesn't make any sense to talk about education, infrastructure, water, health care reform and all these things when we have this huge budget deficit," Schwarzenegger said in his annual state of the state speech.

The speech stood in sharp contrast to his previous state of the state addresses. It was short, blunt and focused on the urgent task of balancing the books of the most populous U.S. state and nation's biggest issuer of public debt.

In prior years he used the address to propose ambitious plans to overhaul the state government and to call on lawmakers to join him in rallying voter support for significant spending to improve and expand California's public works.

But now California faces a recession-driven decline in revenues pushing its current budget into a deep deficit and opening another massive shortfall in its next budget.

REMAINING ARTICLE HERE: http://uk.reuters.com/article/marketsNewsUS/idUKN1553428120090115

[BROOK]

No welfare checks...:mfr_omg:

Just watch the crime rate rise now :gun2::gun2::chair:

[Humble Janitor]

No welfare checks...:mfr_omg:

Just watch the crime rate rise now :gun2::gun2::chair:




That's an unnecessary low blow. Do you really think that low of people who collect welfare?

[Seashore]

I cringed when I saw that welfare checks will be suspended. I am a believer in a safety net, which I have always been willing to pay taxes for. But the crime rate will probably go up, in my opinion. And we are probably going to have martial law.

[BROOK]

I don't think that low of the people who collect welfare checks...
My mother worked for the state handing out welfare checks to the needy. I very much believe in the welfare system.
What I was trying to say is that the PTB will have a new excuse to go into gang ridden areas of the city and blame a rise in crime rate on lack of welfare check. and excuse to create martial law. Is this not what the economy crash was supposed to be about. What was the deliberate purpose of crashing it in the first place?

I also don't believe that people will go nuts without their welfare checks. There are many places for them to go for help, and I'm sure that the rise in the level of compassion since the energy shift will only increase that level of compassion.
It will not be the people doing the dirty work here...it's an excuse for the nwo to get in and clean house, and lock up who ever they want under the excuse that the population is out of control due to lack of welfare cheks.

My compassion is for the people who have been put in this position, not for the ptb to clean up and create a nwo
Don't be fooled...there will be martial law declared soon and that is the reason for Project Avalon...to crate communities to fall back on and get this world going again without the ptb involved and controlling our lives, and ruining this planet

[BROOK]

Oh yeah.....If you want your welfare check, your gonna have to be micro chipped...
:mfr_omg::lightsabre::wall:

[BROOK]

That's an unnecessary low blow. Do you really think that low of people who collect welfare?
Humble Janitor,
With respect I've seen many of your posts, but I believe you've not seen mine. If you did you would not have taken what I said to be against the ones who collect the checks, but the check givers themselves.
I'm rather glad I've had a chance to remind everyone here the reason project avalon was created was for the actions that are now happening by the government are the very reason we need to start creating the safe zones.
Lately we seem to have forgotten why they have built all those holding cells, and prisons around the country.
or why they would need all those plastic coffins.
Remember folks, it's right around the corner, and they have their underground cities to retreat to... we just have each other.
Peace and love to all, and get yourself ready for the game.
Brook

[Kathleen]

Yes....Arnold's state is in the tank yet I see he made it to DC today for the celebrations. I bet the state is footing the bill!!

[BROOK]

Yes....Arnold's state is in the tank yet I see he made it to DC today for the celebrations. I bet the state is footing the bill!!

He just used my IOU for my property tax..that's all :wall:

[Humble Janitor]

Thank you for clarifying what you meant. I appreciate it. No offense meant or taken.

[Myra]

I don't think that low of the people who collect welfare checks...
My mother worked for the state handing out welfare checks to the needy. I very much believe in the welfare system.
What I was trying to say is that the PTB will have a new excuse to go into gang ridden areas of the city and blame a rise in crime rate on lack of welfare check. and excuse to create martial law. Is this not what the economy crash was supposed to be about. What was the deliberate purpose of crashing it in the first place?

I also don't believe that people will go nuts without their welfare checks. There are many places for them to go for help, and I'm sure that the rise in the level of compassion since the energy shift will only increase that level of compassion.
It will not be the people doing the dirty work here...it's an excuse for the nwo to get in and clean house, and lock up who ever they want under the excuse that the population is out of control due to lack of welfare cheks.

My compassion is for the people who have been put in this position, not for the ptb to clean up and create a nwo
Don't be fooled...there will be martial law declared soon and that is the reason for Project Avalon...to crate communities to fall back on and get this world going again without the ptb involved and controlling our lives, and ruining this planet


Yes they are stacking the deck in their favor for Martial Law. Look at this Thread I started, Congress just passed this on 1/22/09:

http://projectavalon.net/forum/showthread.php?t=10435

I am absolutely shocked that they are suspending people's Welfare Checks in California! :shocked: What do they expect people to do? But then again maybe that's the point. They want an uprising so that they can have their excuse for Martial Law. :trumpet:

[David]

You thought the OJ trial caused burning and looting? OMG!

[peaceandlove]

Is It Time to Bail Out of the US?

January 29, 2009

California: Government is officially broke and plans to issue its own money called IOUs. Now negotiating with banks to accept it. Just as valuable as Federal Reserve Notes.

Source: http://www.realityzone.com/currentperiod.html

Original news article: http://www.informationclearinghouse.info/article21867.htm

Instead of receiving their state tax refunds in dollars, California residents will receive IOUs. Student aid and payments to disabled and needy will also come in the form of IOUs. California is negotiating with banks to get them to accept the IOUs as deposits.

California is often identified as the world’s eighth largest economy, and it is broke.

California State Controller John Chiang announced on January 26 that California’s bills exceed its tax revenues and credit line and that the state is going to print its own money known as IOUs. The template is already designed.

http://i40.tinypic.com/25u1uv5.jpg
Source: http://www.realityzone.com/currentperiod.html

[Dantheman62]

STATE BUDGET TROUBLES WORSEN
By Elizabeth McNichol and Iris J. Lav

States are facing a great fiscal crisis. At least 46 states faced or are facing shortfalls in their budgets for this and/or next year, and severe fiscal problems are highly likely to continue into the following year as well. Combined budget gaps for the remainder of this fiscal year and state fiscal years 2010 and 2011 are estimated to total more than $350 billion.


States are currently at the mid-point of fiscal year 2009 — which started July 1 in most states — and are in the process of preparing their budgets for the next year. Over half the states had already cut spending, used reserves, or raised revenues in order to adopt a balanced budget for the current fiscal year — which started July 1 in most states. Now, their budgets have fallen out of balance again. New gaps of $46 billion (over 9% of state budgets) have opened up in the budgets of at least 42 states plus the District of Columbia. These budget gaps are in addition to the $48 billion shortfalls that these and other states faced as they adopted their budgets for the current fiscal year, bringing total gaps for the year to over 14 percent of budgets.


The states’ fiscal problems are continuing into the next two years. At least 41 states have looked ahead and anticipate deficits for fiscal year 2010 and beyond.[1] These gaps total almost $88 billion — 16 percent of budgets — for the 34 states that have estimated the size of these gaps and are likely to grow as gaps are re-estimated in the next few months.

http://www.cbpp.org/9-8-08sfp-f1.jpg

http://www.cbpp.org/9-8-08sfp-f2.jpg

TABLE 1:
STATES WITH MID-YEAR FY2009 BUDGET GAPS
Size of Gap
Percent of FY2009 General Fund
Alabama$1.1 billion
12.7%
Alaska$360 million
6.8%
Arizona$1.6 billion
15.9%
California$13.7 billion
13.6%
Colorado$604 million
7.7%
Connecticut$1.3 billion
7.7%
District of Columbia$258 million
4.1%
Delaware$226 million
6.2%
Florida$2.3 billion
9.0%
Georgia$2.2 billion
10.3%
Hawaii$232 million
4.0%
Idaho$218 million
7.4%
Illinois$2.0 billion
7.0%
Indiana$763 million
5.8%
Iowa$134 million
2.1%
Kansas$186 million
2.9%
Kentucky$456 million
4.9%
Louisiana$341 million
3.7%
Maine$140 million
4.6%
Maryland$691 million
4.6%
Massachusetts$2.4 billion
8.4%
Michigan$200 million
0.9%
Minnesota$426 million
2.5%
Mississippi$175 million
3.4%
Missouri$342 million
3.8%
Nevada$536 million
7.3%
New Hampshire$50 million
1.6%
New Jersey$2.1 billion
6.5%
New Mexico$454 million
7.5%
New York$1.7 billion
3.0%
North Carolina$800 million
3.7%
Ohio$1.2 billion
4.2%
Oregon$442 million
6.6%
Pennsylvania$2.3 billion
8.1%
Rhode Island$372 million
11.4%
South Carolina$554 million
8.1%
South Dakota$27 million
2.2%
Tennessee$884 million
7.8%
Utah$620 million
10.4%
Vermont$66 million
5.4%
Virginia$1.1 billion
6.7%
Washington$509 million
3.4%
Wisconsin$346 million
2.5%
TOTAL$46.4 billion
9.5%

[peaceandlove]

STATE BUDGET TROUBLES WORSEN
By Elizabeth McNichol and Iris J. Lav

States are facing a great fiscal crisis. At least 46 states faced or are facing shortfalls in their budgets for this and/or next year, and severe fiscal problems are highly likely to continue into the following year as well.

Blessings Dantheman62,

Thanks for the great information.

PaL

[BROOK]

Woohoo...what a ride :mfr_omg: I just wanna get off this roller coaster:mfr_omg:

[Dantheman62]

oops I should've put a link to the above info because there's more to it than I posted....
http://www.cbpp.org/9-8-08sfp.htm

[peaceandlove]

ARNOLD BUCKS ~ IOU's for Californians

:gun_bandana:"I'll be buck!" :glasses2:


http://i37.tinypic.com/hwfwk1.jpg

Video and Article Link: http://reason.tv/roughcut/show/671.html



The following text is from the Courage Campaign web site.

California faces financial "Armageddon," as Arnold Schwarzenegger bluntly stated a few weeks ago. And yet Arnold and his fellow Republicans are rejecting compromises by Democrats to rescue our state from a catastrophic budget crisis, unparalleled in the history of California.

Because of the ridiculous 2/3rds budget rule—the super-majority required to pass a budget in the California state legislature—and Arnold's failure to twist the arms of a small cabal of recalcitrant Republicans, Californians will be getting IOUs in the mail next week instead of financial aid checks or tax refunds.

Many Californians are so overwhelmed by this paralyzing crisis that they've just tuned it out. As a result, Arnold is not being held accountable for his failure to lead.

That's why we decided to try something a bit unorthodox—raise awareness by using humor to highlight the absurdity of these IOU's, or what we like to call "Arnoldbucks."

Download your Arnold Bucks here...

http://www.couragecampaign.org/page/s/Arnoldbucks

Has Gov. Schwarzenegger been a disaster? Surely so, though not for the reasons the Courage Campaign says. Despite his promises to the contrary, he manifestly failed to bring fiscal responsiblity to Sacremento. Indeed, five years into the Era of Arnold, the governor has blown out the state budget from $100 billion to $145 billion, with a whopping project deficit of something on the order of $28 billion. In such a situation, it's wrong to argue that the problem is not spending even more money or that super-majority rules are a bad idea. The problem is the spending in the first place.

[Dantheman62]

Thanks peaceandlove!, I just emailed the link to my brother out in California. LOL!

[Humble Janitor]

That's what Californians get for electing Republican ex-actors. Apparently, playing a Governor isn't their strongest suit.

[BROOK]

The new California state bird.....
The California Condor
http://www.photoshoppix.com/modules/coppermine/albums/userpics/10009/normal_caleeforniacondor.jpg

[peaceandlove]

Counties brace for missed payments from state
John Wildermuth, Chronicle Staff Writer
Tuesday, February 10, 2009

Complete Article: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/09/MN7715QD8H.DTL&type=politics&tsp=1

(02-09) 19:57 PST -- California's budget woes will sweep over the state's 58 counties this week when they get promises instead of checks for $89 million in anticipated payments for welfare, food stamps and other services.

The move will be a devastating blow to the counties, which must serve more and more people looking for government help as the economy craters and jobs disappear, said Paul McIntosh, executive director of the California Association of Counties.

[peaceandlove]

California State Budget 2/13/2009 CBS NEWS
plus more articles regarding California's economic state.

Video (2:21): http://www.caivp.org/video/taxes/2009/2/13/california-state-budget

The California Independent Voter Project (CAIVP) is a non-profit (501(c)4) organization that acts as an idea factory, described by its Chairman as a public policy venture capital fund, providing research from experts, analysts, and journalists of all ideologies. All content produced and sponsored by CAIVP is the product of non-partisan analysis and research and is intended solely as a catalyst for further discussion and

[peaceandlove]

Grocery Stores Begin to Close in California

Hal Eisner on Channel 11 Fox News ~ Albertson Stores Closing

February 21, 2009 posted on youtube

Source: http://www.youtube.com/user/george4title

Video (1:50): http://www.youtube.com/watch?v=uJCdafJHKJE&feature=channel

[peaceandlove]

California Counties Begin Secession

Video (2:51): http://www.youtube.com/watch?v=C0tmNAPQnmc&feature=channel

Source: george4title youtube channel: http://www.youtube.com/user/george4title

[Dantheman62]

They're also starting water rationing!

[peaceandlove]

California Dreamin'

ABC News

Posted March 04, 2009

Video (3:59): http://www.youtube.com/watch?v=lKc8IFu4qaM&feature=channel_page

[Dantheman62]

This is such a shame!, and it's just getting worse, I read in the news today that 1 in 8 are either late on their house payments or are in foreclosure. California has at least 10% unemployment, according to that video you posted, which is just going to get worse and worse I'm afraid. I'd say hold on because it's going to get real rough here real soon!
I'm usually one to be humorous about everything, but not this time! This is very serious and really nothing I want to joke about!
If Obama is going to do anything to really help at all, he needs to do it now, like yesterday! Otherwise I'm afraid it will be to late and we'll crash and crash hard!

[Dantheman62]

12 pct. are behind on mortgage or in foreclosure,

NEW YORK – A stunning 48 percent of the nation's homeowners who have a subprime, adjustable-rate mortgage are behind on their payments or in foreclosure, and the rate for homeowners with all mortgage types hit a new record, new data Thursday showed.

But that's not the worst of it.

The reckless lending practices in states like Florida, California and Nevada that were the epicenter of the housing crisis are no longer driving up the nation's delinquency rate. Instead, the foreclosure crisis now is being fueled by a spike in defaults in states like Louisiana, New York, Georgia and Texas, where the economies are rapidly deteriorating and thousands are losing their jobs.

A record 5.4 million American homeowners with a mortgage of any kind, or nearly 12 percent, were at least one month late or in foreclosure at the end of last year, the Mortgage Bankers Association reported. That's up from 10 percent at the end of the third quarter, and up from 8 percent at the end of 2007.

http://news.yahoo.com/s/ap/20090305/ap_on_bi_ge/states_foreclosures

[Dantheman62]

Here's a good article....

http://finance.yahoo.com/career-work/article/106690/Job-Losses-Show-Breadth-of-Recession

What does the worst recession in a generation look like?

It is both deep and broad. Every state in the country, with the exception of a band stretching from the Dakotas down to Texas, is now shedding jobs at a rapid pace. And even that band has recently begun to suffer, because of the sharp fall in both oil and crop prices.

Unlike the last two recessions — earlier this decade and in the early 1990s — this one is causing much more job loss among the less educated than among college graduates. Those earlier recessions introduced the country to the concept of mass white-collar layoffs. The brunt of the layoffs in this recession is falling on construction workers, hotel workers, retail workers and others without a four-year degree.

[peaceandlove]

I wonder how many more companies are going to start finding funds missing?

Ex-Calif. bookkeeper accused of embezzling $10M

58 mins ago

Source: AP http://news.yahoo.com/s/ap/20090307/ap_on_re_us/embezzlement_arrest

VISTA, Calif. – A former bookkeeper embezzled $9.9 million, forcing her company to make layoffs as she bought 400 pairs of shoes that she kept in a room-sized closet decorated with a crystal chandelier and a plasma television, authorities claim.

Annette Yeomans, 51, surrendered at the Vista jail on Friday and was booked for investigation of grand theft and embezzlement. She was being held Saturday at the San Diego County jail in lieu of $10 million bail.

It was not immediately clear whether she had an attorney.

Authorities allege that Yeomans embezzled the money from 2001 to 2007 while she was chief financial officer for Quality Woodworks, Inc., a cabinetry business in San Marcos.

She spent at least $240,000 on 400 pairs of shoes, $300,000 on designer clothing and 160 purses valued at $2,000 each, investigators allege. She also remodeled a bedroom into a closet with the chandelier and a 32-inch TV, they said.

"On a weekly basis Yeomans would spend $25,000 on her credit card and then pay off the balance the following Monday with company funds," said Sgt. Mark Varnau of the sheriff's Financial Crimes Unit.

The losses went unnoticed and the company never hired an outside auditor to check the books because she had a trusted position, Varnau said. Meanwhile, he said, the company was forced to lay off workers and restructure operations because of the losses.

An investigation began after American Express notified the company in February 2008 that one of its checks had been used to make a payment on Yeomans' account, Varnau said.

Yeomans was fired last year and agreed to turn over her assets to the company, which has recovered about $2 million from the sale of her home, some cars and other property, Varnau said.

Her husband was a cabinet installer at Quality Woodworks but was not suspected of any crime, Varnau said.

[peaceandlove]

Californians Scrapping, Squating and Stores Closing Down 03/19/2009
Lookout while you're driving, manhole covers are a big scrapping item.
Video (4:42): http://www.youtube.com/watch?v=_j-vlW4aTpg&feature=channel


15,000 Californians KFI Tax Revolt Protest 03/09/2009
Video (7:30): http://www.youtube.com/watch?v=4IOfTQ6znP4&feature=channel


California Shutting Down! "Living Free in an Unfree World" george4title 2/22/2009
George is talking to small business owners all over the place in Southern California while
you have county buildings and state buildings going up and doing refurbishments, the small businesses are going out of business.
Video (8:26): http://www.youtube.com/watch?v=QvDHfe_whjU&feature=channel