RALEIGH -- Cautioning that the federal dollars in your wallet could soon be little more than green paper backed by broken promises, state Rep. Glen Bradley wants North Carolina to issue its own legal tender backed by silver and gold.
..."I think we're in the process of inflating a dollar bubble that could be very devastating," said Bradley, a freshman legislator elected in November's GOP tide. "The idea is once the study commission finishes its work, then we could build on top of the hard-money currency with an actual State Tender Act that will basically
in correspondence to precious metals stored in the state treasury."
Bradley's bill has yet to attract any co-sponsors among his fellow Republicans.
http://www.newsobserver.com/2011/03/17/1059132/legislator-says-the-state-needs.html# MEANWHILE...
North Carolina $3.7 billion deficit, $43.7 billion in debtNorth Carolina operates on a biennium budget schedule, budgeting for two fiscal years at a time. While the General Assembly draws up a budget every two years, it then adjusts the budget just prior to the state of the the second fiscal year of the budget. The State Assembly passed the $19 billion FY2011 budget and Gov. Bev Perdue signed the budget into law on June 30, 2010.
...North Carolina has a total state debt of $ 43,742,516,373 when calculated by adding the total of outstanding debt, pension and OPEB UAAL’s, unemployment trust funds and the 2010 budget gap as of July 2010.
...The Office of State Management and Budget estimates that the state could face a budget shortfall of $3.7 billion. Governor Bev Perdue instructed agencies in September 2010 to determine how to cut spending by up to 15% in FY2012, which begins July 1, 2011. That's in addition to 1% that Perusse asked them to set in reserve back in August 2010.
http://sunshinereview.org/index.php/North_Carolina_state_budget# Three points worth noting -
1. The idea of having separate currencies for states was settled quite a while back. Read the Constitution, ya maroons -- Article 1, Section 10. The idea is ridiculous.
2. North Carolina ended collective bargaining for Public Sector Unions in 1959. Why do they still have budget issues 52 years later? Isn't collective bargaining the cause of all budget woes, and it's elimination the end to those woes?
3. Hey NC Idiot Legislator - you're state is $45 billion in debt, with a $3.7 billion deficit, and you think you'll have a more stable currency than the United States? BWAHAHAHA!!