What did you get for the holidays?
Due to California’s unprecedented financial crisis, the environmental, scientific, education, transportation and construction community got one big lump of coal. Were we naughty this year? Not hardly. The naughty were the state legislature and the Governor, which both failed to agree on a budget plan that met the laugh test in the financial community.
As a result, California (always described as something like “the eighth largest economy in the world” ) can’t sell a bond. How the mighty have fallen.
The media have done a strong job covering the budget wars and the potential impacts to state employees (10% mandatory layoffs, forced two-days-a-month furloughs, and no more cash by the end of February), but they haven’t delved into the impacts of the state’s inability to sell a bond.
Filed under: Legislation, Media & the Environment | Tagged: California Budget | 1 Comment »





