CA on Verge of System Failure

We have been watching California very closely for years now because we have believed the state to be a potential foreshadowing of what may be coming for the rest of America.

Today this headline emerged;
Report: California on 'Verge of System Failure'

Think of it as Greece on the Pacific: A place with beautiful scenery where the government spent so far beyond its means that mass layoffs, welfare reductions that leave a million children and the poor and elderly without needed services and failing infrastructure are now the norm.

California’s fiscal hole reportedly is now so large that the state would have to free 168,000 prison inmates and permanently close 240 university and community college campuses to balance its budget in the fiscal year that begins July 1.

“We are on the verge of system failure,” Jean Ross, executive director of the California Budget Project, told the Globe and Mail.

NOW CHECK THIS OUT:

Budget analysts say Governor Arnold Schwarzenegger has no choice but to ask Washington for bailout funds, and that Washington has no choice but to agree because not bailing out the Golden State could put the entire U.S. economy at risk.

It seems that California — which at one time had the third-largest economy in the world — is like the biggest U.S. banks: Too big to fail.

See it all here; http://www.moneynews.com/StreetTalk/California-verge-System-Failure/2010/06/21/id/362560?s=al&promo_code=A1D6-1

As we have asked all along....if the Federal Government bails out CA, then what about NY, NV, IL, MI, AZ that are also soon going to experience "system failure"?

Finally, who will bail out the Federal Government when they go broke from bailing out all the broke states? Will the other governments of the world come to the conclusion that the USA is also "too big to fail"?

Of course we can make an educated guess regarding the answer to that already; the IMF may be bailing us out one day in the not distant future. When that happens, the one world currency spoken of in the Bible will be well on it's way.

Keep praying and evangelizing...because when that last person says "Yes!" to Christ....the Age of Grace will be done and we will be out of here! Sing it!..."Like a bird from these prison bars I've flown....I'll fly away!"