Rex Babin Cartoons
Published: Sunday, May. 24, 2009
Facing a $21.3 billion budget deficit, Gov.
Schwarzenegger is requesting a $6 billion loan from the federal government. California is still living on borrowed money. One of these days the feds are going to start collecting. This is why they were so scared to let California go bankrupt, because too many banks that hold the bonds would fail. They haven't taxed the rich enough and they've spoiled the poor with too much welfare.
Too many businesses would fail, then people would fail, just like a row of dominoes. The politicians are elected by people who don't like higher taxes, so they just keeping living on borrowed money. And because the banks and the capitalists have such faith in their systems and their almighty dollar, they have to keep having faith in that dollar, and therefore they have to keep loaning the money and hoping that they're going to get paid some day - but they won't.
The federal government is already bankrupt!
Ted Rudow III,MA