State controller: “The State will run out of cash in less than 50 days without corrective action by the Legislature and Governor.”
How do you take a state that has the coast, the sun, the mountains and more resources than any other state and screw it up like this?
I am stunned by the sheer scale of this incompetence. California has the largest population, it is the third in size and it is 8th in per capita income; it has the 8th largest economy in the world.
How on God’s green Earth does this happen?
Well, we know: Living beyond its means
Don makes some good points. With everything our state has going for it there's no way we should have spent ourselves into oblivion.
You can read the the letter sent by the State Controller here.
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