California, the world's eighth largest economy is in serious economic trouble and wants the U.S. Government to guarantee its bonds.

Since the U.S. Government is broke, what California appears to be really saying, is that they want U.S. Government to beg China for more financial assistance. China currently holds most of all U.S Debt. It would appear doubtful the U.S. Treasury would guarantee California bonds without first getting permission from China, America’s number one creditor.

Should U.S. Government unilaterally guarantee California’s billions in bonds, China may prudently consider the risks of those "bonds" before making new loans to the United States; reconsider whether to renew a trillion in outstanding U.S. debt, and could raise its interest rate now charged U.S. Taxpayers caused by U.S. Government borrowing. Any increase in China’s interest rate charged on U.S. Government debt, could further devastate the U.S. operating budget, depleting funds needed for Americans.

California Gov. Arnold Schwarzenegger and Democratic lawmakers say they are asking for help from the U.S. Government only until the California economy turns around. If California’s economy does not turn around, U.S. Taxpayers will be more chained to China and forced to guarantee worthless California bonds.

Yesterday there were two conflicting TV news reports. The first, “The Recession is close to ending”, the second, “ Expect gasoline to go to four or five dollars a gallon.” Obviously should gasoline hit four or five dollars a gallon during the recession, many workers in CA and America could not afford to drive to work, or buy many retail products and services: much of America would not recover from the recession. Under such circumstances it is foreseeable California could default on its U.S. Government "Guaranteed" CA Bonds.

Rep. Frank's bill if passed would repeal UIGEA the Unlawful Internet Gambling Enforcement Act of 2006 and subsequently regulate lawful Internet Casino gambling.

The big question, after on-line gambling is nationally legalized for so many Californians, how much money will California lose in casino tax revenues and how many Californians working inside “Casino buildings” may lose jobs because of the competition of legalized online casinos?

Have some "gambling establishment owners” taken the position “online Internet Casinos” are more profitable because owners won’t have the hire many live employees? Californians need to determine whether their Federal Senators support live-labor working inside real casino buildings or support UIGEA resulting in only photos of “pretend employees” working, dealing cards and serving drinks at online casinos?

........send that alien muscle head who wets his girly-man panties over 'global warming' to Washington to suck shit out of Obozo's ass.....if he does a good enough job,California's budget problem will be a thing of the past...and I'm sure that he will enjoy his meal so much that he will say "I'll be back"

I thought that for every tax dollar Cal sent to DC, DC gave back only about 78 cents.

Maybe if G Fed wasn't screrwing Cal as SOP, Cal wouldn't need to sell bonds in the first.