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California Is First State to Borrow From Federal Government to Make Unemployment Payments

DerekJohnsonDerekJohnson Administrator, Swaye's Wigwam Posts: 65,581 Founders Club
in Tug Tavern
https://wsj.com/articles/california-is-first-state-to-borrow-from-federal-government-to-make-unemployment-payments-11588617257?mod=djemalertNEWS
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  • BendintheriverBendintheriver Member Posts: 6,445 Standard Supporter
    We know the end game if we continue to force businesses to stay closed and people to stay home. People have to start going back to work right now.

    Idiots like the OR governor are fine destroying businesses. July 5th was a death knell for business owners. Rats will be borrowing money left and right and have no problem with it.
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  • doogiedoogie Member Posts: 15,072
    I thought California was a Nation State? Eighth largest eKonomy in the World? Funds Washington DC?

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  • BendintheriverBendintheriver Member Posts: 6,445 Standard Supporter
    doogie said:

    I thought California was a Nation State? Eighth largest eKonomy in the World? Funds Washington DC?

    LOL! Yeah, they like to say that. The counter is, if they are so successful as a state and its commerce, why are they essentially bankrupt? If they were a business they would have been in receivership 20 years ago. Now we are just throwing what will be billions down a completely mismanaged black hole and we will never see that money again.
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  • PurpleThrobberPurpleThrobber Member Posts: 45,745 Standard Supporter


    Always remember the golden rule of finance - he who has the gold makes the rules.



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  • RaceBannonRaceBannon Member, Moderator, Swaye's Wigwam Posts: 109,577 Founders Club
    I heard the government can float a few months rather easily

    And California can do what it wants
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  • PurpleThrobberPurpleThrobber Member Posts: 45,745 Standard Supporter
    RaceBannon said:

    I heard the government can float a few months rather easily

    And California can do what it wants

    The second rule of finance is - when debt gets to the tipping point, the bank doesn't own you, you own the bank.

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  • ramenduckramenduck Member Posts: 734
    edited May 2020
    Bendintheriver said:

    We know the end game if we continue to force businesses to stay closed and people to stay home. People have to start going back to work right now.

    Idiots like the OR governor are fine destroying businesses. July 5th was a death knell for business owners. Rats will be borrowing money left and right and have no problem with it.

    I've been wrong before, but there is no way the rules stay as is through 4th of July holiday. People will riot. Probably far sooner than that.

    Beautiful Oregon summer weather is going to bring this to a head.





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  • PurpleThrobberPurpleThrobber Member Posts: 45,745 Standard Supporter
    ramenduck said:

    Bendintheriver said:

    We know the end game if we continue to force businesses to stay closed and people to stay home. People have to start going back to work right now.

    Idiots like the OR governor are fine destroying businesses. July 5th was a death knell for business owners. Rats will be borrowing money left and right and have no problem with it.

    I've been wrong before, but there is no way the rules stay as is through 4th of July holiday. People will riot. Probably far sooner than that.





    It won't make June 4th, let alone July 4th.

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  • MikeDamoneMikeDamone Member Posts: 37,781
    I thought California supported the entire nation and if they decided to LEAVE we'd be in a world of hurt.
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  • MikeDamoneMikeDamone Member Posts: 37,781
    ramenduck said:

    Bendintheriver said:

    We know the end game if we continue to force businesses to stay closed and people to stay home. People have to start going back to work right now.

    Idiots like the OR governor are fine destroying businesses. July 5th was a death knell for business owners. Rats will be borrowing money left and right and have no problem with it.

    I've been wrong before, but there is no way the rules stay as is through 4th of July holiday. People will riot. Probably far sooner than that.

    Beautiful Oregon summer weather is going to bring this to a head.





    But they will be shamed by the CoronaBros and Karen's and be accused of killing people
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  • ramenduckramenduck Member Posts: 734
    MikeDamone said:

    ramenduck said:

    Bendintheriver said:

    We know the end game if we continue to force businesses to stay closed and people to stay home. People have to start going back to work right now.

    Idiots like the OR governor are fine destroying businesses. July 5th was a death knell for business owners. Rats will be borrowing money left and right and have no problem with it.

    I've been wrong before, but there is no way the rules stay as is through 4th of July holiday. People will riot. Probably far sooner than that.

    Beautiful Oregon summer weather is going to bring this to a head.


    But they will be shamed by the CoronaBros and Karen's and be accused of killing people
    Even they will want to get outside eventually. The public confidence is going to erode swiftly as the sunnier days approach.
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  • PurpleThrobberPurpleThrobber Member Posts: 45,745 Standard Supporter
    MikeDamone said:

    I thought California supported the entire nation and if they decided to LEAVE we'd be in a world of hurt.

    Then they should just LEAVE!

    Of course, the *REAL* USA will never relinquish their strategic military bases throughout Cali much like they never gave back Guantanamo Bay when Cuba went into 60 years of 3rd world poverty.

    https://www.milbases.com/california

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  • RaceBannonRaceBannon Member, Moderator, Swaye's Wigwam Posts: 109,577 Founders Club
    When Cali leaves we? remove the massive amount of military bases and let them get their own damn Navy to protect their sea lanes as they sell to China.
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  • KaepskneeKaepsknee Member Posts: 14,894
    edited May 2020
    Perfect time for Trump to say Open your State or you get no money.

    California had about $1.9 billion in its unemployment trust fund in mid-April, down from $3.1 billion at the end of February, the month before the coronavirus upended the U.S. economy. The state’s labor department didn’t immediately respond to a request for comment.


    I'm not sure which is more ridiculous. Oregon a state of 4.2 million people having $5.5 Billion in their fund before this hit.

    Or California, a state of over 40 million, having $2.5 Billion less.
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  • PurpleThrobberPurpleThrobber Member Posts: 45,745 Standard Supporter
    salemcoog said:

    Perfect time for Trump to say Open your State or you get no money.

    California had about $1.9 billion in its unemployment trust fund in mid-April, down from $3.1 billion at the end of February, the month before the coronavirus upended the U.S. economy. The state’s labor department didn’t immediately respond to a request for comment.


    I'm not sure which is more ridiculous. Oregon a state of 4.2 million people having $5.5 Billion in their fund before this hit.

    Or California, a state of over 40 million, having $2.5 Billion less.

    Clear case of non abundance.

    Robbing Peter to pay Paul for shit like homeless/illegal alien/transgender/green programs comes at a price eventually.

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  • SwayeSwaye Moderator, Swaye's Wigwam Posts: 41,648 Founders Club
    Where are those huge budget surpluses that faggot CD always bleated on about?
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  • PurpleThrobberPurpleThrobber Member Posts: 45,745 Standard Supporter
    Swaye said:

    Where are those huge budget surpluses that faggot CD always bleated on about?

    The typhus killed them.
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  • doogiedoogie Member Posts: 15,072
    Swaye said:

    Where are those huge budget surpluses that faggot CD always bleated on about?

    buried with him in his Casket?
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  • NEsnake12NEsnake12 Member Posts: 3,792
    State that pays the most in federal taxes is the first to ask for some of that money back. More at 11
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  • UW_Doog_BotUW_Doog_Bot Member, Swaye's Wigwam Posts: 16,806 Swaye's Wigwam
    NEsnake12 said:

    State that pays the most in federal taxes is the first to ask for some of that money back. More at 11

    So you didn't read.

    [By that measure, California was prepared to make unemployment payments for just over two months in the event of a recession.]

    During a year with a "budget surplus".
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