California Budget Crisis Worsens

[SusanJBear]

Bloomberg article on California

 

I HOPE there isn't anybody lurking here who might think muni bonds (or muni money market funds) are a safe investment. There are probably a few municipalities in the country flush with cash but I suspect only a VERY few - and fortunes can change very quickly, as attested by the speed at which the California deficit is growing. Was it 2000 when the state had an $8 billion SURPLUS?

 

The Orange County default was in 1995. My, that was just seven years ago. I'll bet memories are short.