Is it unpatriotic to have a Fourth of July celebration without fireworks? Or is it fiscally responsible? That difficult choice is facing cities across America, as tight budgets have city managers weighing the mood-boosting value of throwing a traditional civic party against the realities of today's deficits.
California has about 225,000 organized state employees—still—and many have been forced to take three-day-a-month furloughs without pay. A few thousand of them converged on the Capitol Wednesday to protest threats by the Governor to impose the $7.25 minimum wage on them starting Thursday. There's no budget, and no solution to the $19.1 billion deficit.
I feel like a broken record. As the fiscal year ends, California is facing a crisis, with no budget…and a $19.1 billion…deficit…(yawn)…and no solution…zzzzzzz….. I’ve been reporting essentially the same thing for over two years, and while services have been cut and people are suffering, California, for the most part, is still functioning.
A large investor in Goldman Sachs is not ready to abandon the beleagured financial services giant just yet.
The chief investment officer of California's giant pension fund said Monday he is disturbed by the allegations of wrongdoing against investment firm Goldman Sachs.
Many of you assume that California is full of liberals, even though the Golden State produced Ronald Reagan, Richard Nixon, and Prop 13.