Wall Street Journal (March 13, 2012)
2012/ 03/ 14 by jd in Global News
Is California a Greek tragedy in the making? “The state lurches from fiscal tragedy to fiscal farce, running deficits in good times as well as bad.” Spending has soared and deficits are routine. Making the problem worse, “California’s economy, which used to outperform the rest of the country, now substantially underperforms. The unemployment rate, at 10.9%, is higher than every other state except Nevada and Rhode Island. With 12% of America’s population, California has one third of the nation’s welfare recipients.”
Tags: California, Deficit, Economy, Greece, Unemployment, Welfare
