Perspective
Oct. 27, 2009
History Repeating in California Fiscal Crisis
Timothy Canova of Chapman University School of Law says the current budget gap is the fourth deficit in California this past year and a half.
ECONOMY
By Timothy CanovaCalifornia's recurring fiscal crisis, the worst since the Great Depression, is reminiscent of the movie "Ground Hog Day" in which Bill Murray's character wakes up every day in the same strange reality. Just weeks after closing a $40 billion budget deficit, California is once again facing a multi-billion dollar gap. The Schwarzenegger administration has already forecast a $7.4 billion deficit the next fiscal year. Others...For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In