California faces financial meltdown as debt grows by $1.7m an hour - Times Online: "The state of California, one of the top ten largest economies in the world, will run out of money by February, causing “financial Armageddon”, according to dire new budget projections."
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Maybe California will be the first state to file for bankruptcy.
1 comment:
I'd give the odds of a California insolvency by early next year as well north of 50 percent. It's now clear a negotiated budget agreement isn't going to happen which means California's finances will be controlled from without by financial institutions, creditors and the courts and not by its elected leaders.
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