History is about to repeat in California as the State’s cash flood may be receding.
It’s familiar: A handful of Californians make a killing on investments, and their tax payments send state revenues soaring. Lawmakers go on a spending spree, without a plan for paying the bills when fortunes turn.
That was the late 1990s, when the dot-com boom made the state flush but the gains proved fleeting, and California came perilously close to running out of cash.
Now, as Gov. Arnold Schwarzenegger prepares a landmark program to expand healthcare coverage to millions of uninsured residents, economists say the state may not have […]
Join the conversation and have a little fun at Capitalstool.com. If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.