The vote on Tuesday will tell us what is coming. The crash in real estate prices hit California hard. This means more unemployed and more taxes. Get ready for more woe.
Sadly, the situation grows more grim by the minute as we slide into a depression; moreover, the state's precarious finances are worse due to falling sales tax numbers. California's tragic multi billion dollar deficit keeps growing and revenue keeps shrinking as we move from a severe recession to a deep depression. Th problem is that with sales tax in decline, the state cannot afford to provide the same number of services as before.
An angry electorate is against more taxes in a special election of props. The situation will get worse as we continue the rapid downward spiral. Expect massive social unrest in the near future.
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