Poor California: No money and no leadership -- latimes.com:
"In the new movie '2012,' whose video trailers were bombarding television airwaves last week, the world as we know it gives way three years hence under a siege of floods, eruptions, undulating continents and earthquakes. In other words, it's not much different from what is happening in California, fiscally speaking, except that the state will be lucky to hang on that long.
To recap: the state's chief budget analyst reported last week that California faces a $21-billion deficit through the next fiscal year. For the two budget years after that, deficits will total $44 billion more, the analyst said. Those are not updates on the budget deficits that California twice faced earlier this year; these are new projections. We are getting to the point when, if you take a long nap, you're at risk of missing the next dire pronouncement."
"In the new movie '2012,' whose video trailers were bombarding television airwaves last week, the world as we know it gives way three years hence under a siege of floods, eruptions, undulating continents and earthquakes. In other words, it's not much different from what is happening in California, fiscally speaking, except that the state will be lucky to hang on that long.
To recap: the state's chief budget analyst reported last week that California faces a $21-billion deficit through the next fiscal year. For the two budget years after that, deficits will total $44 billion more, the analyst said. Those are not updates on the budget deficits that California twice faced earlier this year; these are new projections. We are getting to the point when, if you take a long nap, you're at risk of missing the next dire pronouncement."