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California Debt Crisis

State Borrowing Billions To Stave Off Debt Crisis

AP | By JUDY LIN | Posted 09.25.2011 | San Francisco

SACRAMENTO, Calif. -- California borrowed $5.4 billion from private investors Tuesday as a hedge against a possible default by the federal government....

CA State Debt TRIPLES Under Schwarzenegger

California Watch | Louis Freedberg | Posted 05.25.2011 | Los Angeles

This story comes courtesy of California Watch. By Louis Freedberg Despite Gov. Arnold Schwarzenegger's promises to reduce California's indebtedness,...

Is Sacramento America's Greece? California Debt Crisis is an Economic Time Bomb

Sheldon Filger | Posted 05.25.2011 | Business
Sheldon Filger

The virtually insolvent U.S. federal government may be forced, sooner rather than later, to bailout its most populous state. California is fast descending into a fiscal sinkhole, with no resolution in site.

The Mysterious CAFRs: How Stagnant Pools of Government Money Could Help Save the Economy

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

California is in the anomalous position of being $26 billion in the red and plunging toward bankruptcy, while it has over $70 billion stashed away in an investment pool that it cannot touch.

Jason Linkins

Why Is Arnold Schwarzenegger Brandishing A Gigantic Knife? (VIDEO) | Jason Linkins | Posted 05.25.2011 | Politics

So, I guess this is what is happening, in the world. California Gov. Arnold Schwarzenegger made a video for his Twitter followers yesterday, and for s...