Continuing crisis helps to advance the cause for increased taxes and government control. As you begin to feel the pain and panic you're more likely to agree to anything if the government will just save us. California's failure will help convince the electorate of other states that fed control is the only answer. Don't fall for it.

Barack will not let down California as he will find the money somewhere. Unfortunately without reforming our retirement programs no amount of money will ever be enough money.

As an economist it's difficult to tell people that "economic correction" is a good thing. A business shrinks and grows (hires and fires) on a regular basis. It's tough on people, but we accept it without a flinch. California needs to understand that scarcity of resources is a principle that cannot be violated. It's like gravity. We can pretend to want more free money from somewhere, but in the long run California will be a better place when it learns to live within its means.

A direct quote from the very same article ... :

"One potential rescuer has been the federal government, and for nearly a year California Treasurer Bill Lockyer has pressured the U.S. Congress and the president to help the state with debt markets."

Was President Obama the President nearly a year ago? And is he somehow responsible for the former President of these-here U-nited States not bowing to California Treasurer Lockyer's pressure?

Can someone clarify why this is surprising and why President Obama is doled the blame, given these tough economic times and tough decisions?

Well if this is truly the situation and we can expect no help from the federal government and in my opinion they should not help us as we got in this ourselves then we need drastic action by our California leadership. Maybe the only realistic approach is for California to immediately file for bankrupcy.

We are in a crunch. It is time to clean house for real. It will hurt. I just hope there are safe guards for those that have less resources to get them through. Remember the charities in our community and give them support to help Pleasanton get through it_
VHS, The food bank, Open Heart etc....

Obama and his cronies want to limit CEO pay and blame them for the market issues.

What about accountability in Government. Double standards. Why aren't the fools in CA government being held accountable for there special interest spending, waste, allowing ridiculous contracts to be signed with unions.

I agree with some one above. It is a ploy to allow the government to run amok. BTW California - Your tax rate is higher than the United Kingdom and some parts of Europe.

WHITE HOSE??? Is that a Freudian slip or did this guy jsut foregt to rnu splel chcek?

I have two solutions to end California's financial woes:
1. Enforce illegal immigration laws. Deport all illegals including the 250,000 in jails and prisons. Send them to Washington D.C. and let Obama take care of them. Or maybe Massachusettes, I'm sure Uncle Teddy would welcome them with open arms.
2. Get rid of all entitlement programs. Without them, the people who receive them will pick up and move somewhere else. Good-bye!

If California were a country - we'd be the fifth largest economy in the world!That's simple fact that forces us into reality -- the recession is far deeper than we understand and can address. Forget the blame game and live in the moment -- Washington will help!!

I got an email from the Obama people asking for donations. They want to raise money to push their healthcare plans.

I think they are wrong to come to the taxpayers to raise money to convince people their healthcare plan is good. Why the need for donations, and why in California since they are saying we should be on our own? They should stop trying to raise money from California!

To nosy neighbors:

White Hose would pass spellcheck.. Hose is a word.

I think he meant we're 'being hosed'...

unclehomerr..