Wednesday, May 7, 2008

Cali is in a Hurt Locker (of it's own making)

A budget deficit of 20 billion? No one willing to accept cuts? What do you do? What else can you do but soak people for more taxes? California is in a hurt locker, that it created through run away spending during the boom years which can in no way be sustained in the bust years. Eventually, they're going to have to make painful, difficult cuts because you can only raise taxes so much before they becoming self-defeating.

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