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Old 02-16-2009, 11:36 PM
 
1,119 posts, read 2,465,918 times
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Is this also happening in your state?

California, Almost Broke, Nears Brink


LOS ANGELES — The state of California — its deficits ballooning, its lawmakers intransigent and its governor apparently bereft of allies or influence — appears headed off the fiscal rails.

California has also lost access to much of the credit markets, nearly unheard of among state municipal bond issuers. Recently, Standard & Poor’s downgraded the state’s bond rating to the lowest in the nation

http://www.nytimes.com/2009/02/17/us...i.html?_r=1&hp
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