[snopercod]

Davis whips out his Platinum Titanium GoldTarnished Brass Credit Card...

[Dog Gone]

Gov. Gray Davis and Treasurer Phil Angelides have not always been on the best of terms.

Maybe Weintraub knows something that I don't, but since 1999, these two losers have been in lockstep with each other. They might as well be lovers.

[Robert357]

Speaking of tarnished brass credit cards... ....no amount of creative financing will allow the state to sustain that kind of imbalance for very long.

I felt that the author pulled his punches at the end of the article. What would have been important to point out is that the bond rating agencies will see right through the slight of hand and accounting changes. The true test for the Governor and the Legislature will be to convince the bond rating agencies that this is a temporary change and that the state will focus on growing its economy to improve tax revenues. Oh, thats right Davis and the Legislature would prefer to confiscate excess profits, take by eminent domain businesses like power plants that refuse to operate at a loss, and try to get out of contracts (like the Davis power contracts) that were critical to the survival of the state. I think waiting and watching the rating agencies will be real interesting as the debt in California mounts up.