CA TO DECIDE IF THEY'LL ACCEPT THEIR OWN IOUs

July 9, 2009

In a real head-scratcher, California State officials announced yesterday that they are debating whether State offices can accept State IOUs from taxpayers who received them from the State for payment of State debt. Talk about not closing the circle. State officials have no confidence in their ability to agree on a budget and work within it. These clowns are really sending a wonderful message to the State's taxpayers.

We think that form of payment (i.e., IOUs) should become the California State "currency" for all debts public and private inside the State. It would make it a little harder for the bureaucrats to spend what they don't have outside the State at least. Plus, State residents could print their own as needed, just like State Clown money!