[SeekAndFind]

MORAL OF THE STORY: If you’re into muni’s for income stream — AVOID CALIFORNIA altogether.

With the tax and spend, anti-energy, pro-illegal policies of the state, and 1/3 of all welfare recipients to boot, bankruptcy is just a matter of time.

And notice how bond holders are the first to be screwed.

[stephenjohnbanker]

“And notice how bond holders are the first to be screwed.”

Correct.

[sickoflibs]

RE :”With the tax and spend, anti-energy, anti-energy, pro-illegal policies of the state, and 1/3 of all welfare recipients to boot, bankruptcy is just a matter of time.”

Someone on MSNBC or maybe a lib read here was recapping the lib version of what happened in CA and concluded that all CAs problems were due to the CA GOPs successfully blocking tax increases over many years and decades, and now that the GOP has been FINALLY swept out of most state positions CA /Jerry Brown raised a number of taxes prompting its big turnaround that we see today.(CA State not the Cities)

Have to watch this one, He did raise the sales tax as did lib O Malley in Maryland(another single party state), a very regessive tax,(I buy using Amazon)