Is California Going Bankrupt?
Nov 20th, 2006 | By Michael Shedlock | Category: Macro Economics
History is about to repeat in California as the "state's cash flood may be receding":
"It's familiar: A handful of Californians make a killing on investments, and their tax payments send state revenues soaring. Lawmakers go on a spending spree, without a plan for paying the bills when fortunes turn.
"That was ...read more