Friday, May 14, 2010

What Happens When They Run Out Of Other Peoples Money To Spend?

Spending other peoples money can be a lot of fun . . . until the money runs out.

See: Illinois deep in debt, doesn’t pay bills

Paralyzed by the worst deficit in its history, the state has fallen months behind in paying what it owes to businesses and organizations, pushing some of them to the edge of bankruptcy.

Illinois isn't bothering with the formality of issuing IOUs, as California did last year. It simply doesn't pay.

Think about that.

That is not a small thing.

All of those vendors that are not being paid have employees that may soon be out of a job because their employers can not get paid.

How many other State and City governments are going to have this problem? How many people will lose their jobs, their careers and their life savings when their employer's government customers fail to pay their bills?
Posted by at
Labels: , , , , , , , , , , ,

1 comment:

  1. Fenway_NationFriday, May 14, 2010 at 3:20:00 AM PDT

    I guess more money will be printed by the geniuses who never heard of the Weimar Republic or succession of inept Argentine presidents and military juntas that issued new currencies every few years because the old ones would lose their value....

    ReplyDelete

By submitting your comments, you agree that you alone are responsible for their content. I reserve the right to remove comments I deem offensive or inappropriate, at my discretion.

Threatening, abusive and illegal comments may be reported to the proper authorities. Don't be stupid. If the CIA, FBI or the Secret Service knocks on my door and asks questions about you, I will rat you out in seconds. (Sooner if I call them about you.)

Comments made below will be subject to public viewing.

Comments are subject to moderation.

It is an unfortunate fact of life that there are people out there in the wilds of the Internet that think it cute to post racist and Nazi garbage on other peoples websites. Some of these thugs are even enabled by people who should know better. In my opinion, both the thugs and their enablers are worse than spammers.

I have recently made enemies with a particular group of these people who have done just that on another website. I don't intend to make it easy for them to do that to me.

In light of that, comment moderation will be used here on this humble and very obscure little blog.

I will check in several times each day to approve appropriate comments.

For the most part, I will allow just about any type of comment except for spam and Kilgorian excrement.

Subscribe to: Post Comments (Atom)