Tag Archives: California fiscal crisis

Governor Schwarzenegger on Public Pensions

Same old boring song and dance. Or is it? As everyone begins to fight and claw over a rapidly shrinking economic pie nobody wants to talk about the elephant in the room consuming everything in its path. And that is … Continue reading

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The California Effect

The Washington Post has produced two columns that hit very similar themes. The first, by David Ignatius, talks of the California budget crisis in the context of continuing political gridlock between the two major parties. Ignatius hits a recurring point … Continue reading

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California Teeters

With California moving closer to the financial abyss the Obama Administration is saying no to a federal bailout of the State. Yesterday’s Washington Post detailed the federal concern that a state meltdown would cause a severe problem to the national … Continue reading

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California Closes State Offices

The State of California, rapidly becoming an economic basket case, has imposed furloughs on state employees that have necessitated the closure of state offices throughout California on a rolling basis. From the New York Times: Californians looking to renew driver’s … Continue reading

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California to Pay With IOU’s

The State of California, faced with an eight billion dollar deficit, will likely run out of cash by March absent measures to deal with the problem. In light of that state vendors may receive IOU’s instead of cash for invoices … Continue reading

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