Congress will bailout California, said Rep George Miller, in an interview that appeared in today’s Contra Costa Times. Miller admitted that there is no alternative than for Congress to bailout California soon.
This in response to Lisa Vorderbureggen’s question, “The state Legislature and Gov. Arnold Schwarzenegger remain deadlocked over how to close a $40 billion budget deficit. The state will officially run out of cash in a matter of weeks. Are you concerned that a federal bailout will send the wrong message to lawmakers unwilling to make hard decisions?” Miller replied:
We have no choice…It will not make up the shortfall for California. They will still have to make hard decisions, but hopefully, it will prevent massive layoffs of teachers. And did you see where the governor proposed a cutback on school days when everything we have read says we need longer school days?
Vorderbrueggen’s next question glosses over this statement by asking, “But does it make sense to add to the already high national deficit?”
Sounds like the deal is done, and will get underway possibly as soon as the afternoon of January 21.
WTF?
- So what is this bailout? Will it be trusteeship?
- WIll it come before or after bankruptcy?
- Is this a euphemism for Federal Aid?
- Will it come in the form of the Feds bailing out the California education Budget shortfall?
How can something like this be mentioned so glibly without any followup?