All Debts Are Off The Table

California state transit authorities are celebrating the recent state court decision to keep gas taxes funding transit (as is the law) instead of the state siphoning it off into their general fund.

And, as you'd expect, the state is gonna appeal the ruling. If I were in this game for the buck I shoulda been a lawyer. You can't go wrong being a lawyer in our tort-happy society, can you? I thought not.

Regardless, assuming "we" (the people) fail to overturn this lower court decision, our Golden State will be $1 billion more in the hole. $24 billion...$25 billion...who's counting?

We haven't seen nothin' yet. This state hasn't seen nothin' yet. We're just humming along like the 150 million or so other Americans also neck to nuts in debt thinking things are just gonna work out in the next few months and everything's gonna be just fine. Instead of mowing state lawns every 8 days we'll mow them every 11; instead of cutting state jobs we'll just cut their salaries by 14% via furloughs...and we think we'll save trillions.

This is what I see happening:

People so goddamned mired in debt they will be allowed to renig. Allowed to welsh on their debts, to write them off.

My prediction: personal bankruptcy filings will soon be allowed to include mortgage debt forgiveness (if they haven't already). Personal bankruptcy is just like a Monopoly card, just slam it down and all debts are off the table. I lost $13,000 three years ago to a niece who failed to pay me back, who at filing personal bankruptcy also was able to welsh on dozens of other creditors. We're gonna see this happen more and more. We will become a society of debt forgivers and us stupid fucks who continue to pay taxes and continue to pay back loans and who continue to take personal financial responsibility and who continue to help others who don't give a damn about helping back; we will be funding all you who won't don't.

I've a feeling that our good Christian society will harken back to the Old Testament -- ignoring all the really nasty shit that God commands but following the Book of Leviticus and allowing whole classes of people to welsh on their debts. The Jubilee! Wa-hey!

This is coming, people. Millions who haven't reaped the presumed benefits of Obama's foreclosure prevention program are going to fare better by simply having their mortgage debts erased in the near future. We are a nation unwilling to pay our debts, both public and private. Privately we own thousands on credit cards, car payments, personal loans and mortgages. Publically we owe trillions in national cumulative debts, state cumulative debts, municipal cumulative debts, social security cumulative debts, medicare cumulative debts and local cumulative debts.

Just wipe them clean, eh? Forclosure of the American Dream.