Tag archive: Debt

Why State Budgets Matter

Following up on California’s status as an economic disaster-hole, it begs the question of “why do state budgets matter?” Frankly, the long and short of it is if your state is broke, then by law they’re required to not be… continue reading »

California Now Officially Worse than a Developing Country

Just in from the West Coast: California’s debt is seen by investors as riskier than Kazakhstan’s, according to Bloomberg News. Five-year credit default swaps tied to California’s debt, which are a key measure of the market’s belief in the likelihood of… continue reading »

Indiana is not California

Well. This sucks: California may need a $7 billion emergency loan from the federal government to pay for “teachers’ salaries, nursing homes, law enforcement and every other state-funded service” this month, Gov. Arnold Schwarzenegger warns. California is running short on… continue reading »