California's state finances have gone to pot, and that's what it should use to
pay its employees.
Right now the state is issuing I.O.U.'s to those who work for it. Sacramento says they are worth the paper they're printed on, but most Californians know that's true only if they are used to roll joints.
The state's key available assets are in its farms and fields....and in its prisons and legal system.
Medical marijuana is legal in California. Estimates put last year's traffic in prescription-approved pot at around a billion dollars. If the state were properly organized to tax that and non-medical marijuana---whose dollar volume is many times greater---it might actually have enough money to pay its employees.
But they, in turn, could go to work GROWING marijuana. With its huge agricultural resources, California could immediately become the world hub of the legal marijuana trade. (Mendocino and other counties are already vying for this title).
It could also pay its employees if not in dollars, then in pot. Here's how:
Various California cities, including Oakland, are already raising pot to keep prices down for the legal medical trade. So official expertise is readily available. Like the current and previous two Presidents of the United States, the current Governor of California is known to have extensive first-hand knowledge about the many uses of this precious weed.
Thus the state could grow its own leafy payroll. Some marijuana will be immediately available from the confiscated stashes that have traditionally been consumed by arresting officers.
But there will obviously be a gap between the moment of legalization and the moment the first officially grown buds are ready to pick.
So while California waits, it can issue marijuana futures as pay instead of I.O.U.'s. The futures would include a special dispensation to sell the existing stashes many of the state employees may already be holding (of course, no state employee would break the law, so these will all be MEDICAL stashes).
Being the first state to legalize, California pot would skyrocket in value. Once the actual buds arrive from the government, state employees would be free to sell their redeemed futures in other states, which will then face a dilemma.
Tom Joad will have returned to roost, driving the ghost of a Volkwagen bus.
A dozen states have already legalized medical marijuana, Many are having state budgetary problems of their own.