Brain
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Joined: 2/14/2007
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In my opinion, this means California's problems are not as bad as Greece. And for this opinion I guess I'm fired, ha ha.
S&P: Calif's fiscal problems different from Greece - Yahoo! Finance
The report concluded that California's problems are more a crisis of policy than of debt. California faces a remaining $15.4 billion budget shortfall after lawmakers agreed to some cuts and transfers. But Democratic Gov. Jerry Brown has been unsuccessful at getting consensus on a budget package.
"No doubt they are both experiencing their own versions of distress, but as we show in the report we don't think California is having a debt crisis, although you might say that Greece is," Petek said.
The report points out that Greece's government spending makes up a significantly larger portion of the country's economy than state spending does in California. While Greece's government spending is more than 50 percent of its gross domestic product in 2011, California's direct state spending makes up just 7 percent of the state's economy.
http://finance.yahoo.com/news/SP-Califs-fiscal-problems-apf-3653542605.html?x=0
from Wikipedia,
Brown was sworn in for his third term as governor on January 3, 2011, succeeding Republican Arnold Schwarzenegger. He will be up for re-election in 2014. Brown is working on a budget that would shift many government programs from the state to the local level, a reversal of trends from his first tenure as governor.
Maybe Jerry Brown has been brainwashed into thinking the government in California is worse off than lt is actually is
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S&P: Calif's fiscal problems different from Greece - Ya... - 
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