Moody’s Slashes CA Tax-Allocation Bonds to Junk; Cite San Jose’s Dispute w/ Santa Clara

California bonds have been downgraded by Moody’s.  This, just before Treasurer Lockyer issues $10 billion in bonds to cover the deficit created by the new budget by the out of control Democrats in Sacramento. Not a single Republican voted for this budget, which starts with an $18 billion deficit—that they admit.
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