MercuryNews.com: “State Controller John Chiang issued a stern warning Friday about California’s cash reserves, telling legislative leaders and Gov. Arnold Schwarzenegger they must act on nearly $9 billion in budget cuts the governor is seeking by March — or the state will run out of cash to pay its bills. Without making those cuts — which Chiang says will pump $1.3 billion into the state’s checking account — California would be broke by April 1, no fooling.”
Twenty-two elected idiots (it goes without saying they are all Democrats) in the California Senate decided not to let a small problem like a $20 billion deficit prevent them from spending more of the taxpayers’ money that California does not have. Without the slightest regard for reality and keeping their fingers crossed that California will win the federal equivalent of the Powerball lottery, the California Senate approved a bill to spend an additional $200 billion per year of California’s “play money” to create a government-run single-payer medical care program. The 22 imbeciles senators must have been off the planet when Scott Brown was elected to the U.S. Senate.
See the Investors Business Daily story called “Beyond Our Means.”