CA Fiscal Crisis: Fed To Rescue?

Schwarzenegger declares fiscal emergency in Calif.

SACRAMENTO, Calif. (AP) - Gov. Arnold Schwarzenegger declared a fiscal emergency Monday and called lawmakers into a special session to address California's $11.2 billion deficit.

The state's revenue gap is expected to hit $28 billion over the next 19 months without bold action. The emergency declaration authorizes the governor and lawmakers to change the existing budget within the next 45 days.

Without quick action, the state is likely to run out of cash in February.
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This post is an update on: Fed May See Companies, States as Next Crisis Fronts 10-6-08 quote:

"Schwarzenegger told Paulson in an Oct. 2 letter that California and other states ``may be forced to turn to the federal Treasury for short-term financing'' if the crisis doesn't ease."

Apparently we are to believe that the crisis in CA is not 'easing', according to this latest report of a "fiscal emergency" in CA. Does this open the door for the Fed to come in and rescue them? That remains to be seen, but it certainly looks as if all the pieces are falling into place for that very thing, which Schwarzenegger himself, as seen in the above quote, predicted back in the first week of October '08.

A state government turning to the Fed for financing? How would that fit the overall globalization agenda? This comment quoted from the same 'update' post explains:

"For the most part, as relating directly to this country, the major financial firms have been consolidated at this point and taken over, and now corporate America and the state/local governments are next...There is no place for state and local governments (or nations for that matter) in the community based Agenda 21 system. It is a GLOBAL management scheme." (post)

One world government, this country included, is absolutely the only thing on the table. Everything is being coordinated to achieve the goal. Be aware. Rev. 18:4

see also: Europe, Asia Say U.S. Must Work On Global Financial System 10-1-08
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1 Tim. 6:17 'Charge them that are rich in this world, that they be not highminded; nor trust in uncertain riches, but in the living God.."