Wherever in the U.S. you live, what happens to California is important. This Bloomberg article brings us up to date on the current status of the CA state budgetary crisis. I like the article's conclusion:
California isn’t Greece. It’s home to Silicon Valley, Hollywood and a $27 billion agriculture industry. “It’s unbelievable,” says Bob Nichols, CEO of Windward Capital Management Co. in Los Angeles. “How do you screw up a place with the growth capability of California? It’s so dysfunctional.”
CA is dysfunctional indeed. Most of the blame accrues to the initiative/referendum process and the public employees' unions.
