California is f*d....

Full disclosure: I work part time on campus at a CSU (Cal Poly San Luis Obispo), so I am a little anxious about all the budget cuts. I know it sounds stupid to fret over a part time job on campus, but life is expensive (this job helps with that); besides you never know what stupid politicians and state university boards will decide to do.

The point of these excerpts from an article I read, is to show how much municipal governments (like CA) are"in over their heads." If our states are already f'd, I don't want to see them in 8-12 months from now.

A loss of nearly 42,000 jobs last month pushed California's unemployment rate to 8.4%, a 14-year high and the third-highest jobless rate in the country.

California's November unemployment figure lagged behind only Michigan with its crippled automobile industry at 9.6% and Rhode Island at 9.3% after job cuts this year in retail, manufacturing and services.

Even once-strong hiring in healthcare and government is showing signs of weakening next year. A projected $41.2-billion state budget deficit could lead to involuntary furloughs and wholesale firings of workers at state and local government agencies, school districts, community colleges and public universities.

California's real unemployment picture is darker than the state's 8.4% unemployment rate indicates, economists caution. "People believe there are no jobs to be had, and they are simply dropping out of the labor force and don't get counted," said economist Sung Won Sohn of Cal State Channel Islands. California's real or "effective" unemployment rate is probably twice the official number, Sohn said, meaning "the pain in the marketplace is much greater than 8.4% would show."


The city of Vallejo, Calif., gained national attention earlier this year by filing for Chapter 9 bankruptcy protection. Now, two neighbors are fighting to avoid the same fate, as the state's economic crisis spreads.Isleton and Rio Vista, small towns roughly 50 miles northeast of San Francisco, say they have begun consulting with bankruptcy lawyers as they draw up plans to deal with their mounting budget crises. The towns' leaders say they hope to avoid bankruptcy, but concede the move may eventually be their only option.Vallejo instantly became the nightmare scenario for towns across the state facing a similar toxic mix of foreclosures, debts, pension obligations and the inability to raise money on bond markets.

I've been super busy with Xmas shopping. I've also been doing a lotta soul searching lately on account of this Global Economic Meltdown. This is largely on account of my impending graduation in 6 months (arguably the worst time ever to be entering the job market) so I need to lock up work ASAP. Hint, hint...my blogging responsibilities might have to take a back seat for the next few months. Doesn't mean I will stop blogging altogether, but I gotta prioritize.