California May Get Major Bailout From Feds

California would stand to benefit by more than $21 billion if a state bailout package is approved as expected by the Feds.  Quick math show that this is about half of what out state’s budget deficit will be over a 17 month period.  This blog author questions the effect upon 1. value of the US dollar with such a deployment of cash to the 50 states and; 2. the impact upon spending control we’ve been trying to impose on a spend-happy Legislature?

Click here for the Sac Bee article on the issue. Below is the breakdown ..

Breakdown of potential bailout dollars to California

Breakdown of potential bailout dollars to California

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Published in: on January 24, 2009 at 6:16 pm  Comments (1)  

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One CommentLeave a comment

  1. I posted recently the ongoing debate between Peter Schiff and Steven Leeb who represent the two sides in the heated argument regarding bailouts and government intervention.


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