Posts Tagged ‘California’

California Solves Its Budget Crisis – Sort Of

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 […]

Are California IOUs Pushing Constitutional Limits?

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

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

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

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

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

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 […]