California Dreamin’: How The State Can Beat Its Budget Woes by Dr. Ellen Brown

by Dr. Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
July 8, 2009

“As goes California,” says the adage, “so goes the nation.” All eyes are therefore on the Golden State as it attempts to solve its $26 billion budget deficit. The world’s eighth largest economy is not going quietly into that pit of debt and devastation that has devoured Third World countries whole. The State’s voters have drawn a line in the sand against further tax hikes, while Democratic leaders have drawn a line at further cuts in services or selloff of public assets. State legislators are deadlocked, caught between the rock of tax ceilings and the hard place of debt limits. Continue reading