CA: As budget crisis worsens, state's politicians finally get serious

Sac Bee ^ | 4/30/03 | Dan Walters

[freeper12]

>>It's been observed that as institutions age they tend to move to the left, until someday they go bankrupt.

Lets just all hope that that institution is not the US of A...

thankfully, almost all states are required to have a balanced budget each year, can you imagine the mess most states would be in if they were allowed to defecit spend year after year?

I for one am actually rather enjoying watching the politicians in my state (Mass) squirm under the reduced revenues. I also do get some perverse enjoyment watching the same scenario play out in other states (CA, NY etc, just to name a few). Of course all the states have already "cut past the fat and are now cutting into the bone"...right.

When they cut spending about 50% without raising taxes, then they will be getting close to cutting thru the fat imo...