Saturday, May 09, 2009


From the L.A. Times:

California could be broke by July, state official warns

Reporting from Sacramento -- California could run out of money as soon as July, the Legislature's chief budget analyst warned Thursday, as a new poll showed voters poised to reject five budget-related measures on the May 19 ballot.

U.S. threatens to rescind stimulus money over wage cuts

Reporting from Sacramento -- The Obama administration is threatening to rescind billions of dollars in federal stimulus money if Gov. Arnold Schwarzenegger and state lawmakers do not restore wage cuts to unionized home healthcare workers approved in February as part of the budget.

Let's play a quick round of "What do the following all have in common?".

Failing automakers
Failing schools
Failing newspapers
Failing state budgets

Hmmmmmmmm...I wonder.