What I find deplorable about the situation in California and other states is that they are being refused bailouts. Most of the state deficits will end up hurting the little guy directly, with a lower standard of living, higher taxes, reduced social services, and perhaps even clawbacks and reductions in pensions and medicare benefits. There will also be a hit on employment as scaled back spending leads to layoffs in government jobs and further down the economic food chain. The deficits are significant, amounting to billions of dollars for many states, however that is mere chump change compared to the bailout money that was handed over to crooks running big banks and institutions.

Why are the GD bastards that created this mess getting handouts of tens of billions, and in turn granting themselves obscene pay packages, while the people who pay taxes to fund this largess are getting hit in the wallet and laid off en masse? I am so disgusted with this situation. Obama is a puppet and a liar, and it is clear his interests lie with big money regardless of the Democratic rhetoric that got him elected. I hope people wake up fast that this guy is an even bigger threat to stability than Bush was, and that in itself is saying a lot.

Sorry for the rant, and I wish a sincere happy Independance Day to my American friends south of the border.

cheers!

mike