Thanks for an excellent account of what's going on with the budget.
Gray Davis sure loves to mortgage the future, doesn't he? He seems to think bonds are the answer to everything - the budget, the power crisis, and God knows what else.
This whole mess makes me almost embarassed to live in the state.
D
"Gray Davis sure loves to mortgage the future, doesn't he? He seems to think bonds are the answer to everything - the budget, the power crisis, and God knows what else."
After passing all of these new bonds, then seeing their interest rates skyrocket for new bonds, and watching their budgets become spent in advance on paying off old bonds, the Democrats in California will then DEMAND debt relief from the federal government just as Third World nations demand to be relieved of their debts.
That's the legacy of socialism...