July 31, 2003

California lays an egg:

Wall Street isn't taking too kindly to the notion of the state pushing off its huge budget problems to next year. California "seems to be going in the wrong direction," David Hitchcock, director of state and local government ratings at Standard & Poors, told reporters in a conference call. Hitchcock said the state is relying on "massive borrowing" and one-time fixes while ignoring the fact that shrinking revenues can't keep up with statewide spending.

.. and Bob Dole wants to be governor of California.

Posted by Greg Ransom