California controller: State will run out of cash before April
Original post made by John on Jan 29, 2010
At what point do we understand that this state is completely out of fiscal control? We vote for high speed rail, because it seems green, damn the costs. We never cut a program, unless it is to build roads and dams. We are champions at avoiding hard choices. The usual solution, which will no longer work, is to tax the rich. The current variant is to beg for a federal bailout.
It is already too late to avoid severe pain. This pain will, hopefully, start to turn children into adults.
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