Thursday, January 8, 2009

More California

More about California: At we read this California Controller John Chaing quote --

"My office has projected that, in approximately 60 days, there will be insufficient cash available to meet all expenditures reflected in the 2008-09 Budget Act," stated a Tuesday letter from Controller Chiang to the directors of all state agencies. "To ensure that the State can meet its obligations to schools, debt service, and others entitled to payment under the State Constitution, federal law, or court order. California may begin, as early as February 1, 2009, issuing registered warrants...commonly referred to as individuals and entities in lieu of regular payments."

In lieu of regular payments meaning, of course, instead of payments.

Not only are the staties keeping your refund, they're using it to pay other creditors. You, having paid your entire tax bill plus some in advance, are at best an unsecured general creditor who will be at the bottom of the creditor barrel in case of a state bankruptcy. Could happen. Translation: There's nothing you can do about it. Poor you.

Too bad you're not part of "debt service, and others entitled to payment". Did you think you were entitled to that refund? Don't be silly. Turns out that the state may feel your pain (sure they do) but they're keeping your money anyway... to pay someone else. Did you notice that Mr. Chiang never even apologized? This is a gotcha on a grand scale.

Do you play the numbers at your local bodega? The odds are better than your state lottery (and, as it turns out, better than getting your tax refund on time) AND you're definitely gonna get paid in full and on time if you win. The Mob doesn't issue RWs. Vito has a certain image to maintain.

And how does a new Congress use its first day in session? We just learned that they... party in honor of themselves. This, after returning from their holiday break. Heck, the economy can wait. They're getting paid so who cares if you are? Do you really think that they're not partying on your tax money? Really?

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