California has come up with a plan to kick the can down the road. Of course, it’s being trumpeted as a solution to the current state financial crisis. I’ll let you be the judge. From the WSJ: Gov. Arnold Schwarzenegger and California legislative leaders Monday said they reached a compromise to close the state’s $26 […]
Posts Tagged ‘California’
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Are California IOUs Pushing Constitutional Limits?
Posted by Tom Lindmark on July 14th, 2009
This recession is raising all sorts of interesting sideshows. The most recent being the California IOU issuance. There are some that see this as no less than a threat to the Union. First consider that the state is working through a bill to make the IOU’s legal tender for the payment of all fees, taxes […]
No Money, What The Hell, Give Jacko A Big Sendoff
Posted by Tom Lindmark on July 6th, 2009
This is insane. From Fox: The City of Los Angeles is likely to face costs of $3.8 million related to Tuesday’s public memorial service for singer Michael Jackson, higher than a previous estimate of $2.5 million, Los Angeles City Councilman Dennis Zine told MarketWatch late Monday, citing new figures from the city’s chief legislative analyst. […]
Time Catches Up With California’s Finances
Posted by Tom Lindmark on June 11th, 2009
The great California financial meltdown is reportedly getting closer. D-Day is on or about July 28 according to John Chiang, the state’s Controller. From Reuters, here are the grim numbers: California’s government risks a financial “meltdown” within 50 days in light of its weakening May revenues unless Governor Arnold Schwarzenegger and lawmakers quickly plug a […]
How California Can Prosper Once More
Posted by Tom Lindmark on May 26th, 2009
If you’re looking for some down to earth analysis of the current problems in California, it’s hard to find a better analyst than Joel Kotkin. He’s a long time resident of the state, knows its economics and politics and usually bases his conclusions on sound data and logic. For that reason, I was happy to […]
The States Line Up For Their Bailout
Posted by Tom Lindmark on May 25th, 2009
I’ve written about this several times and certainly others have as well, but it looks as if some sort of bailout(s) of state and local governments is about to take shape. The whole idea has been kicking around since the early TARP days but it’s picking up speed, so now’s a good time to take […]
California Tries To Find A Way Out Of The Box
Posted by Tom Lindmark on May 21st, 2009
California Governor Arnold Schwarzenegger appears to be heading back to the drawing board in order to come up with some plan to see the state through its cash crunch. The Governator had been making the rounds in Washington this week but evidently came away empty handed. After the resounding defeat of the various initiatives that […]
