The Associated Press obediently deflects attention away from the fact that legal, working class residents being supplanted by illegals, homeless, and other state dependent citizens - similar to Massachusetts - is a primary contributor to the state's collapse, as is business being driven to other states by punitive California tax codes. More money paid out by the state, less revenue taken in, the results are predictable;
California nears financial "meltdown" as revs tumble
By Jim Christie
SAN FRANCISCO (Reuters) - California's government risks a financial "meltdown" within 50 days in light of its weakening May revenues unless Governor Arnold Schwarzenegger and lawmakers quickly plug a $24.3 billion budget gap, the state's controller said on Wednesday.
Underscoring the severity of California's cash crisis, Controller John Chiang, who has previously warned the state's government risks running out of cash without a budget deal, said revenues in May fell by $1.14 billon, or 17.7 percent, from a year earlier.
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