PrestoPundit

Reality Strikes California

Posted by PrestoPundit on 11/06/2007

Arnold Schwarzenegger and the California Legislature have been spending like, well, a drunken Hollywood actor — but the Fed created housing boom is over, and now the Governor of California has orderer every government department to slash their budget by 10 percent. Over the long term this is no fix for the state’s structural insolvency, but at least Schwarzenegger has finally left his 2 year vacation from reality and is finally facing up to the mess he’s now made his own.

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