Quote:
Originally Posted by SidewalkCynic
California is bankrupt, and New York is in legislative chaos, and certainly other states are in similar disarray - why?
What's the solution?
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Are you aware of the current economic downturn that the world is facing right now?
California is just one smaller, more compartmentalized, example of these hard times. One of the biggest issues is excessive state spending. This was made worse by state laws that make it harder to raise taxes. As inflation took its course, without tax changes, Cali was led to a $24 billion dollar shortfall.
I don't know much more than this, not being a resident myself. Maybe Buffy could offer some more insight.
I do know that if California were it's own country, it would have the 10th largest economy in the world. I'm sure that through good management, this crisis will work itself out in time. It's going to be more difficult than other states, due to the scale of the issue, but I'm sure things will be done.
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