Thursday, July 9, 2009

Going Down the Drain

In one of the ultimate leftist states we now have this news: "Of course, it is not clear how attractive a piece of California’s debt would be to investors. On Monday, Fitch Ratings downgraded California’s long-term bond rating to BBB from A-, only two notches from junk-bond status, citing the state’s continuing budget drama." [link]

Seems like the ultra-liberal state of California is getting a dose of reality and liberal programs can do in the long run.