California is going broke. Again. The state controller has estimated that the state will run out of money sometime this month. California will need to find $3 billion in cuts or revenues to keep the state in the black through the rest of this fiscal year.
And next year looks even worse. California’s Legislative Analyst Office projects that, even with billions in one-time revenues from Facebook’s impending IPO, Gov. Jerry Brown’s budget will run a $6.5 billion deficit.
Must be George W. Bush’s fault.