California Economy Goes Up in Flames

From AZRainman: Photoshop Satire

No visible means of support and you have not seen nuthin yet, burning down the house!

California in 'fiscal emergency'
The governor of California has declared a fiscal emergency in the US state to address a budget deficit of some $24.3bn.

Governor Arnold Schwarzenegger also ordered many state offices to close for three days each month until June 2010, with staff unpaid for those days.

California dreams have been decimated Arizona Daily Star
Fully 1 in 4 of the nation's underwater mortgages, for instance, are on California homes, and the effects of the governor's proposed cuts — which UCLA's Anderson School of Business estimates will cause 60,000 state employees to lose their jobs — will be to create a new wave of foreclosures and toxic assets on the banks' books.