by Sean Overpeck

Do you know what happened back on September 9, 1850, 158 years ago?

California became a state.The State had no electricity. The State had no money.Almost everyone spoke Spanish.There were gunfights in the streets.

So basically, it was just like it is today, except the women had real breasts,and the men didn't hold hands.


Gov. Arnold Schwarzenegger tries to approve a budgetthat solves the state's $24.3 billion shortfall by Tuesday.

"It's clear that if the Legislature does not send a full budget solution to my desk by June 30, California will face an extreme cash-flow problem that will threaten our ability to pay for vital services," the governor said.Is California going to go bankrupt? The State has a projected $24.3 billion budget deficit for the coming year. Is it like GM "Too Big To Fail" as Democrats like to say. California’s fiscal controller, John Chiang, has called the state’s spending plan “massively unbalanced,” adding that the Golden State is suffering from a cash shortfall not seen since the Great Depression.

Despite the deepening budget crisis, the California Legislature failed to pass a proposed $11 billion in cuts. Maybe they want the American Tax Payer to bail them out also.