July 2, 2009 | The world’s eighth-largest economy has just gone belly-up. When midnight tolled on Tuesday night with legislators and Gov. Arnold Schwarzenegger still deadlocked over how to resolve the state’s staggering $24 billion budget shortfall, California became unable to pay its bills. The state will have to begin issuing IOUs to its creditors as early as Thursday. It is the worst budget crisis in the state’s modern history
Californians Are Sinking ThemselvesBy: AlBratton Friday July 3, 2009 3:20 pm |
2 Comments
Spotlight
Support this site!
Subscribe to the newsletter
Advertise on Firedoglake
Send
us your tips
Make us your homepage
About The Seminal
Advanced search
California’s leadership is sinking California. They’d rather take food and healthcare away from children to balance the budget rather than raise taxes.
Arnold Schwarzenneger and the Republicans are getting away with this scot-free. Due to the take-over of the mainstream press by conservative spinners, due to the shortage of cash of progressive groups to mount a televsiion offensive, due to the inability of citizens to know how to protest, a Republican coup that began with the recall of Gray Davis, no earlier with Prop l3, is destroying the lives of Californians, and the people of the state sit quietly, apparently not knowing whom to blame.