by Doug French
A punk economy is doing what legislators around the country could never do: shrink state and local governments. California Governator Arnold Schwarzenegger has declared a fiscal emergency because his state is $40 billion in the red and may actually be completely busted by February. He even “ordered state officials to prepare to furlough [...]
The first skirmish in what promises to be a war of attrition between groups that want maximum supplies of renewable energy and groups that want maximum protections for landscapes and endangered wildlife ended Thursday when the California Public Utilities Commission, in a 4-to-1 vote, approved a 123-mile, $1.9 billion power line from El Centro to [...]
By Michael B. Marois
Dec. 1 (Bloomberg) — California Governor Arnold Schwarzenegger, saying his state is going broke, declared a fiscal emergency and ordered the incoming class of lawmakers into a special session to fix a widening $11 billion deficit.
Schwarzenegger, a 61-year-old Republican, wants lawmakers to raise taxes and cut spending to narrow the gap that [...]
WASHINGTON — Led by California with a $28 billion hole in its budget, 41 states are in financial trouble, and many of their leaders are looking to Congress to bail them out.
State officials are hoping to join the ranks of the financial industry and auto manufacturers, who’ve found a sympathetic ear on Capitol Hill. They’ve [...]
I fully expect california to be the first state to file for bankruptcy. the last filing with be the the aggregate of all the states aka UNCLE SAM
Because they have been too busy spending on a bunch of crap just like the average American. Instead of invesing in ifrastructure that will stimulate growth, they have [...]
Increased taxes will result in productivity loss and ever-higher deficits with fewer and fewer businesses and employees left to carry the load.
Insane levels of homeowner greed, Nimby “environmentalism” and public employee unions have totally destroyed California’s economy. Raising taxes feeds California’s problems, it doesn’t resolve them.
This is going to happen, state by state, then [...]
NEW YORK (MarketWatch) — California Gov. Arnold Schwarzenegger said that California may need up to $7 billion in emergency funding from the federal government as the state is almost running out of cash to pay for daily government operations, according to a report Friday in the Los Angeles Times. In an email obtained by the [...]
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