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THOUGHT FOR THE DAY!

"I am strongly in favor of using poisoned gas against uncivilized tribes. The moral effect should be good...and it would spread a lively terror.... "-- Winston Churchill commenting on the British use of poison gas against the Iraqis after World War I

 

California nightmare for the global economy?

In closing its past budgetary gaps, California has acted more like the federal government rather than merely one of 50 states. Indeed, unlike the federal government (or sovereign nations), each state is required to balance its budget each year; and no state, at least in principle, has the authority to engage in the kind of discretionary deficit spending both the federal government and nations around the world routinely use to stimulate their economies.

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