Meant to post this sooner, but here you are, your moment of California bond-rating zen:
Moody’s Investors Service has placed the State of California’s A2 general obligation rating, as well as the ratings for lease debt and other state-backed debt listed below, on Watchlist for possible downgrade. The Watchlist action reflects the following: an expected budget gap of over $20 billion (or more than 20% of the state’s General Fund budget) in the state’s fiscal year 2010 budget; the announcements by the state controller that without solutions the state will not be able to meet all its financial obligations in July; the continued political stalemate that has resulted in inaction by the legislature thus far; and the limited solutions available to the state. Although the executive branch has proposed a package of budgetary and cash measures, thus far no meaningful solutions have come out of the legislature.
How is it, you wonder, that there remains room to downgrade California? Ah, the wonders of credit ratings services. At the end of the world they will almost certainly wait until the fires have scourged the planet before declaring assets impaired. Yes, they’re like that.
Anyway, there’s more:
The difficulties the state is facing include the following:
* After enacting a budget for fiscal year 2010 in February, the economy has continued to deteriorate and the state is now expecting budgetary gaps for fiscal year 2010 of over $20 billion.
* Budgetary solutions are more limited now that the voters did not authorize the state to issue deficit bonds secured by lottery revenues.
* Without legislative and executive solutions, the state is expecting to run short of cash beginning in July.
Well, sure, but other than that, however, the weather is nice. And the point break at Swami’s is super.
Originally published at Infectious Greed and reproduced here with the author’s permission.
51 Responses to “Moody’s on California: Nice Weather, Shame About the Insolvency”
E Polecat • June 26th, 2009 at 2:06 pm
I’ve lived in CA since 1972 and have watched The Golden State turn into compost. We have the highest state income, corporate and gas taxes in the country. Tax revenues have been double the increase in population plus the inflation rate in the past 30 years and still we’re broke. Look up the work “snollygoster” on Google and you’ll get a description of our legislators. The state would be a lot better off if none of them had been born.
4031754 • May 30th, 2011 at 9:28 am
4031754 beers on the wall.
brodys blog • May 30th, 2011 at 10:46 am
Actually like your web sites particulars! Undoubtedly a wonderful supply of knowledge that’s extremely helpful. Carry on to hold publishing and that i’m gonna proceed reading by way of! Cheers.
spoons drinking game • May 31st, 2011 at 7:21 am
Thanks for each of your labor on this blog. Kate takes pleasure in going through internet research and it is easy to understand why. We all know all about the compelling way you provide good suggestions on your blog and as well as improve response from others on that area of interest then our own child is without a doubt discovering a whole lot. Have fun with the remaining portion of the new year. Your conducting a superb job.
sports drinks • May 31st, 2011 at 3:34 pm
We are a group of volunteers and starting a new scheme in our community. Your website offered us with valuable info to function on. You have done a formidable job and our entire community will be grateful to you.
forerunner 305 • June 1st, 2011 at 7:47 pm
significant topic area.
Real Estate Lewes de • June 1st, 2011 at 10:13 pm
Your blog came up in my research and Im motivated by what you have penned on this subject. I am currently broadening my search and thus cannot contribute further, nonetheless, Ive bookmarked your site and will be returning to keep up with any succeeding updates. Just Now love it and gives thanks for admitting my remark.
דימוי עצמי • June 2nd, 2011 at 5:20 pm
היי אני רוצה להמליץ לכם על פסיכולוג קליני אשר נותן שירותי ייעוץ וטיפולים פסיכולוגיים באיזור תל אביב,
gpswatch • June 2nd, 2011 at 6:25 pm
was looking for advice.
Party Tips | Full Moon Party Thailand • June 2nd, 2011 at 9:00 pm
Full Moon Party Thailand…
[...]while the sites we link to below are completely unrelated to ours, we think they are worth a read, so have a look[...]…
קידום אתר בגוגל • June 3rd, 2011 at 6:36 pm
היי רציתי להציג על אתר אינטרנט בנושא קידום אתרים בגוגל. באתר האינטרנט אפשרלראות במידע עם מידע ב קידום אתרים בגוגל.
Make perfect Your Iphone 4 With Fashionable Leather Case | Fashion Courses Online • June 4th, 2011 at 11:59 am
Fashion Courses Online…
[...]the time to read or visit the content or sites we have linked to below the[...]…
Full Moon Party Thailand • June 5th, 2011 at 7:54 am
Full Moon Party Thailand…
[...]we like to honor other sites on the web, even if they aren’t related to us, by linking to them. Below are some sites worth checking out[...]…
רהיטי ילדים ונוע • June 6th, 2011 at 6:11 am
היי, אני רוצה להמליץ לכם על פתרונות למגוון דרישות, כמו חדרי נוער.
cheap 1080p projector • June 6th, 2011 at 8:38 am
Good points?I would notice that as any individual who in point of fact doesn’t write on blogs a lot (in fact, this may be my first publish), I don’t assume the time period ‘lurker’ is very turning into to a non-posting reader. It’s no longer your fault the least bit , but in all probability the blogosphere may just come up with a better, non-creepy title for the 90% people that enjoy studying the content material .
Brady Rancher • June 6th, 2011 at 6:50 pm
Hey! I know this is kind of off topic but I was wondering which blog platform are you using for this site? I’m getting sick and tired of WordPress because I’ve had issues with hackers and I’m looking at options for another platform. I would be awesome if you could point me in the direction of a good platform.
קידום אתרים בגוג • June 8th, 2011 at 2:37 am
היי, אני מעוניין להעלות לכל הבלוגרים על אתר אינטרנט עם מאמרים בנושא קידום אתרים בגוגל ובשאר אתרי החיפוש.
do pheromones work • June 8th, 2011 at 3:31 am
It’s not that I want to replicate your website, but I really like the design. Could you tell me which design are you using? Or was it custom made?
Outlook Boost • June 8th, 2011 at 3:43 pm
Hi there, I just stumbled your blog and wanted to say that I’ve truly enjoyed browsing your blog posts. I will subscribe to your feed and I hope you write again very soon!
Susannah Langin • June 8th, 2011 at 7:59 pm
Howdy! This is kind of off topic but I need some advice from an established blog. Is it tough to set up your own blog? I’m not very techincal but I can figure things out pretty fast. I’m thinking about making my own but I’m not sure where to start. Do you have any points or suggestions? Appreciate it
רכב יד ראשונה • June 8th, 2011 at 9:30 pm
היי אני רוצה להמליץ לכם על חברה בתחום מכירת רכבים המתמחה בשרותי טרייד אין לחברות ליסינג ולקוחות פרטיים . באתר, מידע רב המלווה בתמונות מכירת הרכבים ורשימה המתעדכנת יום יום עם הרכבים הנמצאים במקום ומיועדים למכירה.
vacation rentals Bethany beach • June 9th, 2011 at 1:37 am
3 Apr 10 at 16:46
nonknowledge • June 9th, 2011 at 3:34 am
To verify any refund, see a INTERNAL REVENUE SERVICE website and even thin air also.
Condooms bestellen • June 9th, 2011 at 4:41 am
Information given by you is really very useful and valuable for me. I have to write an article in my class about this theme and thanks a lot for it. I even didn’t know about Laboratory and Unarmed stick insects. Thanks a lot
remedies for kidney stones • June 9th, 2011 at 9:44 am
Hi there just wanted to give you a quick heads up. The text in your content seem to be running off the screen in Ie. I’m not sure if this is a format issue or something to do with internet browser compatibility but I figured I’d post to let you know. The design look great though! Hope you get the issue solved soon. Cheers
Lilian Borlin • June 9th, 2011 at 1:49 pm
When I initially commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added I get four e-mails with the same comment. Is there any way you can remove me from that service? Thank you!
how to talk to girls • June 9th, 2011 at 8:57 pm
Hey – nice weblog, simply wanting round some blogs, appears a fairly good platform You Are using. I’m at present using Drupal for just a few of my websites but looking to change one of them over to a platform very much the same to yours as a trial run. Anything particularly you’d suggest about it?
how to talk to girls • June 9th, 2011 at 10:22 pm
hey all, I used to be just checking out this blog and I really admire the idea of the article, and have nothing to do, so if anyone wish to to have an engrossing convo about it, please contact me on AIM, my name is heather smith
get her to like you • June 9th, 2011 at 10:39 pm
Thanks for taking the time to debate this, I really feel strongly about it and love learning extra on this topic. If possible, as you gain experience, would you thoughts updating your blog with extra data? It is extremely useful for me.
how to approach a woman in the street • June 9th, 2011 at 11:27 pm
My partner and I really enjoyed reading this weblog publish, I used to be just itching to know do you commerce featured posts? I am at all times trying to find somebody to make trades with and merely thought I might ask.
Philips LED light bulbs • June 10th, 2011 at 1:37 am
Hi are using WordPress for your site platform? I’m new to the blog world but I’m trying to get started and set up my own. Do you require any coding knowledge to make your own blog? Any help would be greatly appreciated!
Real Estate Agent Video Series – Revenue Sharing • June 10th, 2011 at 6:01 am
I’m not sure exactly how I discovered your blog because I had been researching information on Real Estate in Casselberry, FL, but anyway, I have enjoyed reading it, keep it up!
Stop Bail Bonds • June 10th, 2011 at 10:07 am
Perfect write-up. It is really not challenging to read your blog. This article connected with your web site is exactly awesome, and your blog design is Simple generous. It seems like not dazzled. So very good. Maintain the job performed well. http://bailbondsstop.com/
steel baskets • June 10th, 2011 at 7:22 pm
I find this blog very interesting, i will be here everyday till now. Greetings
athena pheromone • June 11th, 2011 at 7:37 am
Great write-up, I am a big believer in posting comments on blogs to inform the blog writers know that they’ve added something useful to the world wide web!
Homes For Sale in Keller TX • June 11th, 2011 at 2:51 pm
Can’t wait for your next post. Thank you!
Hilario Gannaway • June 11th, 2011 at 6:50 pm
Nice info
cheap juicy couture bikini • June 12th, 2011 at 4:40 am
Oh my goodness! a tremendous article dude. Thank you However I’m experiencing situation with ur rss . Don know why Unable to subscribe to it. Is there anybody getting similar rss downside? Anyone who knows kindly respond. Thnkx
Denton County Land For Sale • June 12th, 2011 at 5:34 pm
Thanks for your Post! It was very helpful.
save porn • June 13th, 2011 at 3:14 am
There are lots of posts to choose from near this, I do think taking there reference could experience made this spot or article really informative. I’m not expression this information is negative. Simply I must pronounce the fact that info provided here was unique, merely to make it more in close proximity to complete, supporting with other former information will get been actually good. The points you get touched allow me to share important, thus I’ll spot many of the information here to produce this actually best for entirely the newbie’s here. Thank you for these records. Actually helpful!
solar panels for campers • June 13th, 2011 at 7:42 am
There are numerous web pages in your web which will will help in decorating this sort of product in a greatest strength productivity combined with for a strong toughness.
bolsas femininas • June 13th, 2011 at 11:37 am
Unusual this publish is totaly unrelated to what I used to be looking google for, nevertheless it was listed on the first page. I assume your doing one thing proper if Google likes you sufficient to place you at the first page of a non related search.
Opt In Email Marketing Lists • June 13th, 2011 at 1:56 pm
Good work, are you looking for real estate in Winter Springs, FL? Learn where the deals are, get foreclosure lists and find condos for sale in Altamonte Springs.
Cammy Whitherspoon • June 13th, 2011 at 4:40 pm
Thanks for the blog loaded with numerous information. Stopping by your blog helped me to urge what i used to be craving for.
przewóz osób jawor • June 14th, 2011 at 2:05 am
Mortgages rv solar panels mean acquiring some sort of credit.
FAQ Answer Magician for Outlook • June 14th, 2011 at 2:27 am
Great job, beautiful site with great informational content. This is a really interesting and informative post.
Homes For Sale Denton TX • June 14th, 2011 at 10:16 am
Hi there, I found your blog via Google while searching for a related topic, your web site came up, it looks great. I’ve bookmarked it in my bookmarks.
Teak Furniture Indonesia • June 14th, 2011 at 11:26 am
I’m impressed, I have to say. Actually hardly ever do I encounter a weblog that’s each educative and entertaining, and let me tell you, you may have hit the nail on the head. Your concept is excellent; the difficulty is something that not enough people are talking intelligently about. I’m very blissful that I stumbled throughout this in my seek for one thing referring to this.
אולמות אירועים ב • June 14th, 2011 at 12:21 pm
הי אני רוצה להמליץ על אולם אירועים עם נגישות נוחה במיוחד מצפון ודרום בשל הקרבה לכביש 6, המקום 3 דקות ממחלף עירון על גבי חדרה, כך תוכלו לדעת שהחופה שלכם, תתחיל בזמן.
Google Maps Data Extractor • June 14th, 2011 at 2:46 pm
Thanks, are you looking for real estate in Altamonte Springs, FL? Learn where the deals are, get short sale lists and find homes for sale in Casselberry.
Mobil Mercedes benz • June 14th, 2011 at 3:52 pm
Rattling fantastic visual appeal on this internet site , I’d value it 10 10.
