Los Angeles, 2009: California may be the eighth largest economy in the world, but its state government is issuing IOUs, unemployment is at its highest in 70 years, and teachers are on hunger strike. So what has gone so catastrophically wrong?
But the state that was once held up as the epitome of the boundless opportunities [...]
1913 Intel
Your world at risk. How the impossible becomes the inevitable.
Will California become America’s first failed state? | World news | The Observer
Posted by Matt in October 6th, 2009 | no comment
Published in U.S., Approval Ratings, Arnold Schwarzenegger, Blush, Boundless Opportunities, Budget Deficit, Collapse, Epitome, George W Bush, Housing Bubble, Hunger Strike, Ious, Kevin Starr, Movie Star, Paralysis, Professor Kevin, State Government, Unemployment Rate, Unpaid Leave, Verge, Way Of Life
Meltdown 101: California’s budgetary troubles – BusinessWeek
Posted by Matt in July 1st, 2009 | no comment
Published in Economy, Financial, Abstract Problem, Arnold Schwarzenegger, Blogged, Budget Shortfall, Businessweek, California Meltdown, Flock Browser, Ious, Meltdown, National Recession, Out Of Whack, State Lawmakers, Wallet, Welfare Recipients
California’s budget shortfall isn’t just an abstract problem involving some out-of-whack numbers. It’s a serious crisis that’s threatening to hurt people in the wallet — in July alone, the state is talking about handing out $3 billion in IOUs to everyone from contractors to welfare recipients.
How exactly did California get into this mess, and what [...]
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