a. palmer jr.

Do California IOUs Carry an Implicit Guarantee from the Federal Government?

Maybe the Mexican government should be asked to help back the California IOUs....it's their people that helped CA get in the shape it's in.

What Went Wrong with California, New York, and New Jersey?

I'm one of the few people that will actually name the cause of a lot of these states financial problems so here goes again: ILLEGAL IMMIGRATION. I understand it's politically incorrect to actually call that a problem, but California and New York are being over-run with this problem. New York gets them from everywhere, California mostly from Mexico and maybe China. Legal immigration is one thing but illegals don't pay taxes, but rely heavily on handouts from those who are here legally. The hospitals are going broke because of non-payments of illegals, police are overwhelmed because of additional crimes committed by illegals. If we don't put an end to illegal immigration it will eventually put an end to us.

California's Default Is Certain

I don't understand why California is in this mess...it looks like a solution is simple, if you have the will to pull it off. It's just a matter of simple mathematics as taught in elementary school; to balance their budget they either have to take more in or quit sending more out or both. In California's case right now it's both. I know that will make some people unhappy but they shouldn't expect money for nothing anyway. I'm sure the movie stars won't mind maybe 1% more on their taxes if we'd ask them and I'm positive the illegals in California wouldn't mind going back home for awhile while Arnie gets the budget balanced. The welfare moms could work, as a last resort, in a McDonalds or Taco Bell to help out, like I said, only temporarily while the problems are being solved.