…California is facing a multi-notch downgrade
…if it fails to resolve its budget woes
Moody’s Investors Service said
“If the legislature does not take action quickly
the state’s cash situation will deteriorate to the point
where the controller will have to delay
most non-priority payments
in July
Lack of action
could result in a multi-notch downgrade”
Moody’s said
Moody’s Joins S&P in Warning on California Debt
Can the wants of a few who know
outweigh the needs of many that don’t until enough figure it out?
If power can corrupt a few
can apathy devastate many?
To help balance its budget
California has reduced the state tax credit
for dependents
The change will increase a family's California taxes for 2009
by about $210 per dependent compared with 2008
This may come as a shock to parents
who have been too busy shuttling between soccer games
…to keep up with the state's budget fiasco
State cuts tax exemptions for kids
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