Monday, June 8, 2009

This is what happens if you leave sorting out public finances too long

California Governor Schwarzenegger Slashes Spending

Arnie implements draconian cost cutting measures to avoid running out of money next month. California waited until they had no choice, and now chaos is upon them. Gordon Brown seems to be on a similar path. I bet California wished they'd done this last year when they could have dictated the terms.

Posted by andrew @ 11:18 PM (524 views)
Please complete the required fields.



One thought on “This is what happens if you leave sorting out public finances too long

  • Little Professor says:

    “Governor Arnold Schwarzenegger has ordered state agencies under his control to stop paying contracts signed since March 1st.”

    Isn’t that a sovereign default?

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>