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Hosea 4:6 My people are destroyed for lack of knowledge…

California goes broke, halts $3.5 billion in payments

Posted by truthpills on 2009/02/05

Stephen C. Webster
Published: Monday February 2, 2009

California, the eighth largest economy in the world, is broke.

“People are going to be hurt starting today,” said Hallye Jordan, speaking on behalf of the state Controller. “There’s no money.”

Since state legislators failed to meet an end of January deadline on an agreement to make up for California’s $40 billion budget gap, residents won’t be getting their state tax rebates, scholarships to Cal Grant college will go unpaid, vendors invoices will remain uncollected and county social services will cease.

Read the full article

One Response to “California goes broke, halts $3.5 billion in payments”

  1. Tom Awtry said

    This is alarming, to think the greatest country in the world, our country, cannot find enough “state” funding to honor commitments made to their students for a college education after working so hard for through high school to obtain.

    This is what’s happening in the “Golden State” of California, my state I call home! The state is basically broke over my generation’s reckless spending and bad state and federal governing.

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