The brutal budget deficit that California faces means states will begin to fall apart. Arnold knows the state is broke. He is begging for a bailout from DC. People, we are reaching a tipping point. With falling income tax and sales tax revenue the state can no longer meet its financial liabilities.
Expect more states to follow as unemployment increase. Also, I said that as state increase sales tax there will be less money for people to buy things. The situation next year will be worse when people realize we are in a false rally and the stock market crashes. It looks grim.
Thursday, May 21, 2009
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