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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on July 07, 2009, 08:43:55 AM
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Fitch Ratings downgrades the state's bond rating to BBB, just above junk status. Budget impasse continues to rile the state's financial standing.
NEW YORK (CNNMoney.com) -- California's bond rating is far from golden.
Citing the Golden State's ongoing budget upheaval, Fitch Ratings on Monday downgraded California's long-term debt to BBB, one category above junk bond status. The next step is BBB- before the state's bonds would be considered speculative debt.
Fitch also maintained its so-called negative outlook on California. "nstitutional gridlock could persist, further aggravating the state's already severe economic, revenue and liquidity challenges," Fitch wrote.
http://money.cnn.com/2009/07/06/news/economy/California_bonds_almost_at_junk/index.htm?postversion=2009070619
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Way to go Arnold.Now,all you need to do is hire Colin Powell and the state will be fine.THATS what republican moderation gets you.Compare Clifornia to Texas.California has a Powell republican running it,Texas has a conservative running it.Enough said.
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It doesnt matter what Arnold is. We have democrats running the senate and assembly. As long as you have dems running things, there will be absolutly no fiscal responsibility.