Invånarna i delstaten har sagt nej till skatte ökningar och mer underskott.
There is no relief for the state's embattled finances. The governor says the vote mean the golden state's budget deficit could increase to $21 billion now.
http://www.youtube.com/watch?v=wfjdrdA0AUM&NR=1
Nu tycker Schwartsenegger att det är grönt ljus för att dra ned kostnaderna, finns ingen annan väg, så att det tom kommer att skada vissa av statens invånare.
Another Look - California Voters Reject Budget Measures - Bloomberg
http://www.youtube.com/watch?v=_Jjvid9849g&feature=channel
In-Depth Look - California Budget Crisis - Bloomberg
the decreas in kredit rating may cost Kalifornia a billion dollars more just in increased interrest rates cost.
This is not only California. Credit institutes plannes to put ALL municipal rating on negative watch. That is unprecidented.
The FEDs backstop is a kvasai guarantee as the Federal state has no formal authority to guarantee the states.
http://www.youtube.com/watch?v=r7YQNsV0ez8&feature=channel
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