California Meltdown

We have wondered in previous blogs if California may be foreshadowing what will be the fate of the rest of the country. California's finances are close to collapse and today's headlines are still trumpeting that fact;
California nears financial "meltdown" as revenues tumble

He warned California's state government is speeding toward a financial disaster unless officials act urgently to balance its books.
"Without immediate solutions from the governor and legislature, we are less than 50 days away from a meltdown of state government," Chiang said in a statement.

And just like the Federal government, California is proposing selling paper as a way to try and come up with cash to keep their state running. But really, who wants to exchange cash for paper from a state government that many are realizing will probably default?

That would increase confidence among investors that California has cash to pay the $7 billion to $9 billion in short-term debt notes that Lockyer's office assumes the state will need to sell, Dresslar said.

Read full article here; http://www.reuters.com/article/topNews/idUSTRE55974820090610?pageNumber=2&virtualBrandChannel=0

Is this what is coming for the Federal government as they desperately attempt to sell paper (Treasury bonds) to other countries in exchange for their hard earned cash? Remember, our bonds say right on them, "Backed by the full faith and confidence of the U.S. Government". When the confidence and faith dry up....what will we be left with??

Who knows...we might soon be forced to put our full faith and confidence solely in our savior and Lord, Jesus Christ. What a day that will be! Pray that many will come to the Lord through the current and future hardships that this country will endure.