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For the past decade, through Gray and Arnold, all Californians have heard is bad news. Higher taxes, more job killing regulations, dumb spending programs, special interest/union control of the Capitol, high unemployment and the possible release of 40,000 criminals so we can have a court created crime wave, with tens of thousands of victims!
How bad is it? "All this means that, although California can still sell bonds, like a consumer with bad credit, that debt will be very expensive. But after selling $36 billion of debt this year, and struggling to find further takers, Treasurer Lockyer may begin seeking to sell bonds to overseas investors. We are running out of tricks, Lockyer told an Assembly hearing. Shortly we are going to have to go international to sell California bonds. I dont know how expensive that is going to be. California currently pays higher rates than Brazil, Indonesia and Mexico, the treasurer says."
The last bonds sold by California were to cost 3%--instead they cost 4%--all of this adds to the deficit.
With a real deficit of over $36 billion, as of today, expect a whole lot more bad news from Sacramento and government at every level.
Doom and Gloom is the new California slogan for the Great Depression caused by Sacramento.
More...
How bad is it? "All this means that, although California can still sell bonds, like a consumer with bad credit, that debt will be very expensive. But after selling $36 billion of debt this year, and struggling to find further takers, Treasurer Lockyer may begin seeking to sell bonds to overseas investors. We are running out of tricks, Lockyer told an Assembly hearing. Shortly we are going to have to go international to sell California bonds. I dont know how expensive that is going to be. California currently pays higher rates than Brazil, Indonesia and Mexico, the treasurer says."
The last bonds sold by California were to cost 3%--instead they cost 4%--all of this adds to the deficit.
With a real deficit of over $36 billion, as of today, expect a whole lot more bad news from Sacramento and government at every level.
Doom and Gloom is the new California slogan for the Great Depression caused by Sacramento.
More...
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