Godlike Productions - Reply to Thread

Users Online Now: 2,242 (Who's On?)	Visitors Today: 774,499
Pageviews Today: 1,274,796	Threads Today: 505	Posts Today: 8,765
01:02 PM

REPLY TO THREAD

Subject California sales tax revenue down 33.5% vs estimates

User Name

Font color: Font:

In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.

Original Message California Sales Tax Revenues Nosedive By 33.5%

The state has avoided default by temporarily borrowing from state trust funds, but those accounts will soon need their cash back to continue operating. Today California quickly began trying to sell $10 billion in municipal bonds to fund the record $28 billion they need to keep the lights on. With tax revenue plummeting and the state already the second lowest rated credit in the country, if the independent credit rating agencies downgrade the state to “junk bond”, California will be short up to $18 billion and default.

[link to tipggita32.wordpress.com (secure)]

Basically, California is to the United States as Greece is to the EU. Here comes the bailouts that will only lead to more bailouts...

Pictures (click to insert)





\| Next Page >>