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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (12996)	8/22/2003 11:14:22 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

no I think the state will default, or come close to a default and prop 13 will be overturned in some way by the courts. Phil Angelides (state treasurer) said today that taxes must be raised in order to pass a budget next year. We've already triped the car registration fee, we have 8.5% sales taxes and high income taxes. So what to do. Leon Paneta was on capital report tonight and was laughing about the state budget, kindof under the interview if you know what I mean. He had a smirk on his face, he knows CA is screwed. He said he was glad he didn't choose to run. Carl Reiner from hollyood (who apparently is very active in politics) said he wouldn't consider running because "the state is broke". I'd love to know where the waste is going to come from to cover the 65 billion dollar debt. Remember we have to pay high interest on that money now too.