California Is Not Ready For A ‘Fiscal Rainy Day’

Daily Breeze-


One of the great mythologies in California is the notion that the state’s spending practices have substantially morphed from profligate to prudent under Gov. Jerry Brown’s watchful eye. A new report from the watchdog group Truth in Accounting should put to bed that profoundly misguided idea. Assessing the fiscal well-being of the 50 states, the group declared California a “sinkhole state” without enough assets to cover the state’s debts.

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