Obama in Vegas: $1 Million Lucky Streak
Posted in Main Blog (All Posts) on February 23rd, 2010 5:32 am by HL
Obama in Vegas: $1 Million Lucky Streak
Has the Golden State Gone Bust?
Wyatt Buchanan, San Francisco Chronicle
Leaders and would-be leaders from both major parties have raised the b-word in the past weeks, and the Golden State is frequently labeled as bankrupt by people nationwide.Federal law prohibits states from declaring bankruptcy and without a legal framework, assertions about California's solvency are left to interpretation. But persistent multibillion-dollar budget deficits, cash crises, tens of billions of dollars in debt and other obligations have blurred the legal distinction.”California is deeply in debt. You could say that it's bankrupt,” Attorney General – and…