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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: anializer who wrote (34836)	7/3/2009 3:34:36 PM
From: Spekulatius	Respond to of 78740

I agree on CA. the only way to fix this mess is with massive cut in expenditures. I think the state budged has expanded by 8%+ annual during 2003 from a high base to begin with. This is simply not sustainable. i think the state, city and counties need to lay off a lot of employees and probably cut pay for the rest, privatize prisons, sell of assets etc. it probably taxes a bankruptcy to get there. Sticking the head in the sand will not help and raising taxes even more is not going to work either and will just accelerate the exodus more.