A group of the biggest U.S. banks said they would stop accepting California's IOUs on Friday, adding pressure on the state to close its $26.3 billion annual budget gap.
No kidding. California's government has been out of control for years and now has to face the piper. Any bank that honors those IOU's are just accepting fancy toilet paper.
With the likes of Obama and California's Pelosi in the drivers seat, the federal government is taking us all over the same cliff.
I gotta wonder when my piddley-assed SS check becomes a federal guv IOU that the bank won't honor, will I be able to take it to Wal-Mart and get food with it?
Got your parachute packed? Better yet, who packed your parachute?
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