Tag Archives: california debt

Lewis: California and Bust

On August 5, 2011, moments after the U.S. government watched a rating agency lower its credit rating for the first time in American history, the market for U.S. Treasury bonds soared. Four days later, the interest rates paid by the … Continue reading

Posted in Featured | Tagged , | Leave a comment

Editorial: Californians’ incredible shrinking incomes

This is shocking: Californians’ median household income plunged an incredible 9 percent in four years, from 2006-10. The amount dropped to $54,459 annually from $59,821, adjusted for inflation, according to a U.S. Census Bureau report last week. The recession that … Continue reading

Posted in Featured | Tagged , | 2 Comments

Greenhut: California’s mess not Texas’ fault

SACRAMENTO – As California’s budget battle continues, Republicans and Democrats have engaged in a rhetorical battle regarding the relative merits and demerits of our lovely state and one of the nation’s other megastates, Texas. This debate started after a legislative … Continue reading

Posted in Featured | Tagged , | 1 Comment

Hanson: California’s Assorted Rocks and Hard Places

News came out on Thursday that the California budget deficit is actually closer to $25 billion, twice what we are told. This follows from last year’s $42 billion shortfall, which was closed by all sorts of one-time tax increases and … Continue reading

Posted in Web Logs | Tagged , | Leave a comment

California, There It Went

More than 40 years later, I still remember the bright sun and the palm trees when we got off the plane. California in 1968 was a magical place, a magnet for those seeking new opportunities or to lose an old … Continue reading

Posted in Featured | Tagged , | Leave a comment

California puts the squeeze on bureaucrats

Thousands of California bureaucrats face the prospect of having their lavish paychecks slashed by Gov. Arnold Schwarzenegger. Full payment will be withheld until lawmakers come to an agreement with the larger-than-life executive on how they’re going to pay the state’s … Continue reading

Posted in Featured | Tagged | 4 Comments

Big Banks Don't Want California's IOUs (1)

A group of the biggest U.S. banks said they would stop accepting California’s IOUs on Friday, adding pressure on the state to close its $26.3 billion annual budget gap. The development is the latest twist in California’s struggle to deal … Continue reading

Posted in Featured | Tagged | 6 Comments