Come 2009, California, the [formerly?] seventh largest economy in the world, will likely be paying legislators and refunding taxpayers with IOUs. Being bigger than Lehman Bros. & Bear Stearns, isn’t CA “too big to be allowed to fail”?
Republican Gov. Schwarzenegger, who “wants to act immediately” on a budget fix, is vacationing at the family pad in Idaho.
Just bear this in mind as you evaluate Gov. Patrick’s efforts to balance the MA budget. It could be worse. At least Patrick is trying.
Please share widely!
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p>wtf Ahnold!?
And that is, the state of California is essentially ungovernable. Popular referendums have put in legal requirements for spending that are at or above the legal limits on taxation.
hoisted by their own petard.
petard