California breaks record for single-day bond sale. From the S.F. Gate. In short, the State of California set a new record Wednesday by borrowing NINE BILLION DOLLARS to cover this year’s budget deficit. Normally I’m proud when California breaks records, but c’mon – $9,000,000,000.00 IN ONE DAY!. By my rough math, that’s over $300 for every man, woman and child in the state. Money that sooner or later some taxpayer somewhere will have taken from his or her pocket to pay for this year’s excess. While I’m disgusted, I can tolerate the view that every last service performed by the state government and its charming bureaucrats is absolutely essential and that cuts could not have prevented this debtload from being dumped on our heirs… no wait, I can’t. The only mitigation I can see to this I can see is they borrowed it all when the interest rates are really low. Yep, I’m all revved up and ready to vote against some people. Now I just have to find some candidates worth voting for.

Comments are closed.