How Many Politicians Will Fit On The Head Of A Pin? How Many Are Just Pinheads?

http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2010/01/04/MNCJ1B84N3.DTL
California leaders seek budget help from D.C.

The California Legislature has finally figured out how to balance their budget. Spend more money than you have, and then beg the federal government for the rest. After all, the federal government does NOT have any budgetary limits. The federal government can always print more money whenever they want to.

Of course California wants to claim that they are not looking for a bailout, but an investment. So does that mean that the bailout of Government Motors (GM) and wall street fat cats was really an investment? Don't you just love it when politicians talk stupid?

Evidently California has big plans for the future. After spending more than they can collect from current taxes, and borrowing from future tax earnings (bonds), California now wants the federal government to guarantee California bonds. I guess that means they are planning on defaulting and not paying the bondholders who were dumb enough to buy bonds from an organization that can't balance a budget.

Seems like as sound a strategy as anyone could expect from any government official.