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California troubles continue. Another government agency had its ratings lowered, meaning the cost of borrowing goes up, along with the deficit.
We are in the California Great Depression and each day it gets worse. Unless we repeal AB 32, cut taxes and spending, we will continue to swirl downward in the porcelain bowl.
This is another example of how the financial world sees California--our fiscal mess has caught up to us. Remember, a few weeks ago we sold $1.9 billion in bonds, expecting to pay 3%--instead we had to pay 4%.
There is a $10 billion bond planned to be sold six weeks after the next phony budget is passed during the Special Session in February--can you imagine how much that will cost? How much that will add to the deficit?
Angry yet?
More...
We are in the California Great Depression and each day it gets worse. Unless we repeal AB 32, cut taxes and spending, we will continue to swirl downward in the porcelain bowl.
This is another example of how the financial world sees California--our fiscal mess has caught up to us. Remember, a few weeks ago we sold $1.9 billion in bonds, expecting to pay 3%--instead we had to pay 4%.
There is a $10 billion bond planned to be sold six weeks after the next phony budget is passed during the Special Session in February--can you imagine how much that will cost? How much that will add to the deficit?
Angry yet?
More...