California’s economy is collapsing
-->Credit Crunch, Credit, Politics, California Housing Crash, The Economy, Real Estate February 25th, 2009
This from The New York Times:
LOS ANGELES — The state of California — its deficits ballooning, its lawmakers intransigent and its governor apparently bereft of allies or influence — appears headed off the fiscal rails.
Since the fall, when lawmakers began trying to attack the gaps in the $143 billion budget that their earlier plan had not addressed, the state has fallen into deeper financial straits, with more bad news coming daily from Sacramento. The state, nearly out of cash, has laid off scores of workers and put hundreds more on unpaid furloughs. It has stopped paying counties and issuing income tax refunds and halted thousands of infrastructure projects.
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February 25th, 2009 at 2:52 pm
thanks for the great post