Tuesday, June 16, 2009
Prediction: California is the Next Bailout
Sure the Obama administration claims that it isn't going to bailout California. I beg to differ. The cuts required to balance California's budget are draconian enough to set off unrest among the populace. California's economy is the 8th biggest in the world. If it goes off the edge of the precipice, where do you think the U.S. economy is going to be? If you're the president do you think you're going to allow this to happen on your watch? Nope. You're going to bail them out.
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2 comments:
Agreed. I think by the time they are within 30 days until "meltdown" the bailout will come. That way the ppl will start to panic and Obama can play the savior.
Yepper. I think their strategy is, "we don't want California to count on us so they'll do something with the budget. If it becomes a complete failure, we'll be forced to ride to the rescue, so we won't rule that possibility out."
I don't see any possibility that they "solve" their problems in the long term with the political situation out there.
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