Schwarzenegger declares fiscal emergency as $14 billion shortfall projected for 2008.
Turns out that a stalling economy, plus collapsing real estate are a pretty serious whack on the state’s financial head.
I wonder what will happen to the plans and funding for crucially needed upgrades for the crumbling California water infrastructure?
FutureJacked is not optimistic about what all of this implies.
I’m going ahead and instituting a California DeathWatch. California will be the testbed where the pathogenic mix of gangs, economic implosion due to debt overload, ethnic tensions (African American, Anglo, Hispanic, Asian) goes prime time in the U.S.
Imagine what happens if you factor in water and power shortages on top of that.
Lower standard of living, coming to your neighborhood soon. More government debt, uneducated voters elect whoever gives them the most , (all borrowed money)