California unter alles

The Golden State flirts with bankruptcy:

The state will suspend tax refunds, welfare checks, student grants and other payments owed to Californians starting Feb. 1, Controller John Chiang announced Friday…. California is projected to be $346 million short of the funds it needs to pay all its bills in February. By March, the state would be so far in the red that even continuing to suspend payments would not cover the shortfall. California would be insolvent, making the issuance of IOUs likely.

Perhaps they could encourage the immigration of more Mexicans. That should help solve the problem. We’re told they’re good for the economy, after all.

Zelebrate good times

Villful failure to zelebrate zee magical negritude ist strictly VERBOTEN:

“Inappropriate comments that may make other students, staff or families feel unwelcome or uncomfortable in school or on the bus will not be tolerated,” Superintendent Kevin Bright said in an e-mail sent to parents Monday, Jan. 12…. Jeff Schlaeger, Mason High School’s psychologist, said “inappropriate comments” occurred around election week when doctored pictures of Obama appeared at the school, including “derogatory caricatures” of him dressed like a terrorist and signs that read “Obama ’08/Biden ’09.”

As Spacebunny noted, it’s vital to teach them that freedom of speech doesn’t actually mean freedom of speech when they’re too young to notice the doublethink. One really can’t afford to have them learning to take their freedoms LITERALLY, after all.

WND: Epic Failures

The English people are being sold a whole herd of pigs in a poke, and they don’t even know what it will cost:

The Treasury has formally announced a scheme to allow banks to exchange cash or shares for a Government guarantee on their “toxic” debts, transferring any losses they suffer from the banks to the taxpayer. However, the Chancellor admitted he can’t estimate how much taxpayers’ money will needed in the latest bailout.

It will be interesting to see how many of the self-appointed financial whizzes I pointed out in today’s column, those who backed the first round of bailouts, will line up in favor of this one. Because there’s a pretty good chance that the banks will soon be pushing something like this on the American public.

UPDATE – Even Krugman is now pessimistic about the next round of bailouts:

I hope I’m wrong, but I suspect that taxpayers are about to get another raw deal — and that we’re about to get another financial rescue plan that fails to do the job.