Wednesday, February 04, 2009

Distinctions for the Golden State

California has achieved some distinctions in the last week. We got rated the worst state bonds in the country by the ratings agencies. That means higher borrowing costs for all the things we borrow money. In a NCSL study we came out fourth, as the state with the highest percentage of deficit. While Nevada is at 37.6%, Arizona at 28.2% and New York at 24.3%, we are at a measily 22.3%.

Then there were the events in California. The Counties have begun to wise up that if the state is going to pay them with rubber checks, they should return the favor. A labor and environmental coalition has yammered about challenging just the GOP members of the legislature for "selling votes" because they are asking for changes in laws during the budget process.

We are now four days late from the Armageddon of warrants. It is a wonder that no one has proposed just to recall the entire lot of elected officials.

No comments: