Schwarzenegger to U.S.: State may need $7-billion loan

L.A. Times reports:

California Gov. Arnold Schwarzenegger, alarmed by the ongoing national financial crisis, warned Treasury Secretary Henry M. Paulson on Thursday that the state might need an emergency loan of as much as $7 billion from the federal government within weeks.

The warning comes as California is close to running out of cash to fund day-to-day government operations and is unable to access routine short-term loans that it typically relies on to remain solvent.

Can California afford to pay 2400 prison guards over $100,000 a year? Should federal taxpayers have to pay for these people? Maybe,California will have to start selling some land to raise cash.Maybe,California can't afford to have government workers retire at 50 and live off the taxpayers.