By Larry Mitchell
I was in a state office this morning and overheard employees talking about the possibility they might be paid in IOUs soon.
They sounded worried.
“I don’t do this as a hobby!” one woman said.
Someone else said IOUs were issued instead of paychecks about 12 years ago -- something she hadn’t experienced because she’d only worked there for 10 years.
IOUs ... it seems crazy. Can the state Legislature and the governor let things go that far?
Almost makes me think of the pictures we saw in textbooks as youngsters of people in Germany after one of the World Wars, pushing wheelbarrows full of money. The money was next to worthless. It took a wheelbarrow full to buy a can of soup, or something like that.
Speaking to Congressman Wally Herger on the phone this week, I asked him about all the suggestions one hears that the country may be on the brink of terrible disaster.
“Look around,” he said. I think he meant if I looked around I’d see a prosperity that wasn’t about to disappear. We might get really bad inflation. Unemployment might jump to really bad levels. But Americans are productive and resilient and creative, he said. The country is not about to take a huge dive. Yet, he added, that possibility is there, if we don’t take the right actions now.

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