California Budget: California has Run out of Money, Starting Monday. $42 billion deficit and Economic Problems and Future Issues. Investment Forecast for the State.
The California housing and finance driven economy is coming to a destructive end. On Monday February 2nd 2009, California’s chief accountant will start delaying payments totaling approximately $4 billion. In this pot of money, the state will be postponing income tax-refunds, college grants, and welfare checks. Now we really see the pickle of this budget […]
Orange County Jobs: The Real OC, Companies Cutting Jobs Since the Recession Started in California.
Southern California’s most expensive area, Orange County is not immune from the current economic downturn. The employment situation is dire across the state with the current unemployment rate spiking to 9.3% in December from a rate of 8.4% in November. The speed of job losses is increasing in a state with a deeply troubled housing […]
Saving Nation: You Know you Have a Fiscal Problem When Saving Money Actually Becomes a Detriment to the Health of our Economy.
In George Orwell’s dystopian 1984, doublethink was the ability for someone to hold two mutually contradictory beliefs, and accepting them both. We have now entered into the world when Americans actually saving money is bad for the health of our consumption economy. War is peace. Saving is spending. Our Ministry of Truth is the Federal […]
Fiscal Situation of 50 States: Combined Budget Gaps Estimated at $350 Billon for 2010 and 2011.
It is simply stunning that 44 states are facing shortfalls either for this fiscal year, or will come up short in 2010 or 2011. This puts virtually the entire country in a difficult financial situation. It is hard to understand how the media feels that the federal government is somehow better able to get money […]