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newgeography.com - 12/18/2008
Bailing out California, Again
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If many of the nation’s governors have their way, the next agenda item for the spendthrift federal government could be a bailout of state budgets . According to a report issued on December 10 by the Center on Budget and Policy Priorities, 37 states face mid-year 2009 budget deficits, totaling ...
freakonomics.blogs.nytimes.com - 12/15/2008
What's the Point of Bailing Out the Auto Industry?
— freakonomics.blogs.nytimes.com — Governments intervene in markets all the time - and they should, in order to make markets more... competitive; to solve problems of externalities (which are ubiquitous); to resolve difficulties caused by individuals' shortsightedness, including the ... (more) What's the Point of Bailing Out the Auto Industry?

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Paul Kedrosky's Infectious Greed:  California as Iraq, But Without the Exit Date

Toro's Running of the Bulls Market Blog:  The Banana Republic of California

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Blog Reactions

California as Iraq, But Without the Exit Date
Paul Kedrosky's Infectious Greed — Good New Geography piece tonight by Wendell Cox on the perils of bailing out California without any forced restructuring. Here is the money (literally) quote: With the situation deteriorating daily, bailing out California could become a continuing national obligation – sort of like Iraq, but without the prospect of an exit date. More here. ...

The Banana Republic of California
Toro's Running of the Bulls Market Blog — Making the case for not bailing out California. If many of the nation’s governors have their way, the next agenda item for the spendthrift federal government could be a bailout of state budgets. According to a report issued on December 10 by the Center on Budget and Policy Priorities, 37 states face mid-year 2009 budget deficits, totaling $31.7 billion. As would be expected from its size, California leads the pack at $8.4 billion. However, California’s shortage is well above its share, at more than one-quarter of the total which is double its share of the ...

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