Californians know that something is wrong, and they also know that their elected officials – at least operating under today's political dynamic – can't even get themselves to stop digging a deeper hole. Few economists believe that the economy is poised to come roaring back, which would paper over the problems.
California appears headed toward a massive fiscal collapse.
08 March 2010
California Heads Towards Bankruptcy
OC Register: Who could blame us for cussing?