Wolf Richter www.testosteronepit.com
California is broke again. The “balanced” budget of last summer turned out to be another pile of overoptimistic assumptions. This time, the out-of-money date is March 8, Controller John Chiang said yesterday. $3.3 billion must be dug up, and pronto. The problem: $2.6 billion in “anticipated” revenues didn’t materialize, but $2.6 billion in “unanticipated” expenditures did. Last fall, California had to borrow $5.4 billion from
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