FWIW, California doesn't have to balance its budget. According to an assistant state Treasurer I talked to, it's only required that the Governor present a balanced budget. It doesn't have to pass. Of course, as CA runs deficits year after year, it raises the interest rates it has to pay... so it's a good idea to balance the budget.
On Tue, Aug 10, 2010 at 3:53 PM, raghu <[email protected]> wrote: > I am puzzled about this little excerpt from a Bloomberg article: is > there anything special about the state of Vermont? > > "Unlike the federal government, every state except Vermont is required > to balance its budget, forcing spending cuts, tax increases or both -- > actions Federal Reserve Chairman Ben Bernanke said last week are > contributing to the nation’s sluggish recovery." > > quote from: > http://www.bloomberg.com/news/2010-08-10/u-s-house-set-to-approve-26-billion-state-aid-as-lawmakers-break-recess.html > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > -- Jim Devine "All science would be superfluous if the form of appearance of things directly coincided with their essence." -- KM _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
