Summary
CALIFORNIA is on shaky financial ground. Even if the Republicans and Democrats come together on a spending plan very soon, it won't prevent the state from borrowing $10 billion at rates that are higher than when Gov. Gray Davis was in office just to pay its bills.
The news, reported on bloomberg.com Monday, comes as no surprise to State Treasurer Bill Lockyer, who said the state is venturing hat in hand into a volatile credit market, one that is riskier and more expensive than five years ago, the year Gov. Davis was recalled.See the full content of this document
Extract
Our Future's at Stake
Every day the Republicans and Gov. Schwarzenegger and the majority Democrats fail to pass a budget, the state's borrowing bill goes up. It is crimin...
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