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.