Article

2010-05-12 Economy

16 Reasons Why California Is The Next Greece

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Posted by tipper 2010-05-12 17:19|| || Front Page|| [2 views ] Top

#1 Scary stuff.

Posted by JohnQC 2010-05-12 17:51|| 2010-05-12 17:51|| Front Page Top

#2 Doesn't look like California is going to bailed out by Washington. LA had better re-think the boycott of Arizona.

In other news. Reuters is reporting: The United States posted an $82.69 billion deficit in April, nearly four times the $20.91 billion shortfall registered in April 2009 and the largest on record for that month, the Treasury Department said on Wednesday.

It was more than twice the $40-billion deficit that Wall Street economists surveyed by Reuters had forecast and was striking since April marks the filing deadline for individual income taxes that are the main source of government revenue.

Department officials said that in prior years, there was a surplus during April in 43 out of the past 56 years.

The government has now posted 19 consecutive monthly budget deficits, the longest string of shortfalls on record.

Doesn't bode well.

Posted by JohnQC 2010-05-12 19:14|| 2010-05-12 19:14|| Front Page Top

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