IOUZ ;-D <3 CA

Everyone had been talking about it for months, but this week the rumors have finally been confirmed--California announced it will have to issue ~ 30,000 IOUs for state tax returns as an attempt to get a handle on the budget that has gone completely down the crapper. Schools are getting screwed the worst, of course. Didn't anyone who figured the budget watch the fourth season of The Wire?? If a new budget isn't passed in August to account for all the IOUed money and other issues, then they'll owe state tax payers nearly $5 billion because of the interest rate applied to the IOUs.

Things are getting a little shaky around here, to say the least. It's strange how in recent decades so much has changed for California. In the late 80s-early 90s, EVERYONE was moving to California. It was deemed a glorious state with higher minimum wage that took care of its citizens and with beaches to boot. Then the Northridge earthquake happened in 1994, and people couldn't pack and go quickly enough. I'm beginning to wonder if California's own personal recession/budget crisis won't create another flight eastward.

But look on the bright side, the Michael Jackson memorial cost LA $1.4 million (a mere bag of shells!), people are apparently buying/selling the IOUs on Craigslist, and the Governator got this great shot with people who have babies and won't get no tax returns this year: