No one knows what the final cost will be but when you include the costs of bonds at the current rate, it cost the state about $2.25 for every dollar borrowed. It is a wonder how the state has not gone bankrupt yet. With the gimmicks and games that are being played, the arbitrary budget that was just passed makes for interesting conversation that all bets are off as to when and not if California falls into the ocean. In the past month three California cities have filed for bankruptcy protection with many more lining up to fail as well.
Saturday, July 28, 2012
California: Political Sinkhole of the West (Part 2)
No one knows what the final cost will be but when you include the costs of bonds at the current rate, it cost the state about $2.25 for every dollar borrowed. It is a wonder how the state has not gone bankrupt yet. With the gimmicks and games that are being played, the arbitrary budget that was just passed makes for interesting conversation that all bets are off as to when and not if California falls into the ocean. In the past month three California cities have filed for bankruptcy protection with many more lining up to fail as well.
Popular Posts
-
MOSCOW – Russia dramatically escalated its denunciations of American threats to attack Syrian military targets on Saturday, as President V...
-
Throughout the online battles over Kim Davis, the counterfactual I’m most presented with is along the lines of the following: “You wouldn’...
-
Before a single down has been played, we have already witnessed the biggest upset of the National Football League's season. Ju...
-
Impending military strikes in Syria have invited comparisons to the Iraq lead-up ten years ago, but members of the Bush administration ha...
-
The new health care law promises all sorts of free benefits -- but analysts argue nothing is ultimately free, and ObamaCare is no exception....
-
About 8,000 Washington state residents were told they qualified for more generous tax subsidies than they will actually receive when they en...
-
Massachusetts senator Elizabeth Warren is bringing her name and fundraising prowess to Oregon next week to help her fellow Democrat, Jeff ...
-
Why wasn't Juan Emmanuel Razo-Ramirez, a Mexican national in the U.S. illegally, detained by Lake County sheriff's deputies during...