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So we've heard the stories about how California would be the worlds fourth largest economy if a country. How this one loon was making six figures so he upped his intake to three buckets of fried chicken a day and was having underground storage tanks put in to store his orange drink.
One problem. The state is looking at a 25 billion dollar deficit this coming year. I was shocked when I saw the story in the LA Times. Here's what doesn't make any sense. The state tok in 100 billion dollars. But all that they have in the bank is 37 billion. Why? They spent 93% of the 100 billion and only banked 7%.
Now they're seeking red ink for the next 3- 4 years. 7-10 billion yearly. That number goes up if the recession gets worse, or if the cost of goods go up. Plus spending goes up.