San Francisco Chronicle: B-word being thrown around Capitol

[marmar]

Has the Golden State gone bust?
Wyatt Buchanan, Chronicle Sacramento Bureau

Monday, February 22, 2010

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Sacramento -- California's dire and ongoing budget predicament is raising a tough - and touchy - question about the state's finances, one that some at the Capitol do not want discussed: Is California bankrupt?

Leaders and would-be leaders from both major parties have raised the b-word in the past weeks, and the Golden State is frequently labeled as bankrupt by people nationwide.

Federal law prohibits states from declaring bankruptcy and without a legal framework, assertions about California's solvency are left to interpretation. But persistent multibillion-dollar budget deficits, cash crises, tens of billions of dollars in debt and other obligations have blurred the legal distinction.

"California is deeply in debt. You could say that it's bankrupt," Attorney General - and presumptive Democratic gubernatorial candidate - Jerry Brown told a group of young Democrats earlier this month. .........(more)

The complete piece is at: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/02/22/MNJ71BUILC.DTL&tsp=1

[tularetom]

1. The idiot woman running for the Senate proposed that CA file for bankruptcy

Her name escapes me but she is the one who ran the "demon sheep" ad and trashed Hewlett Packard before getting shit canned.

Anyway, she was quickly advised to shut her piehole that the constitution prohibited this.

I think that's where all this talk got started. Even if the state were technically bankrupt they could not file for it anyway.

[xxqqqzme]

2. carly fiorina

uncertain of the spelling. She is using 'carlyfornia' as her 'clever' catch phrase. Yet another rethug that doesn't know how to pronounce the name of the state!

[XemaSab]

3. I don't see how we're going to get out of this hole

:(