Posted 1 year ago on May 17, 2012, 8:11 p.m. EST by occuman
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Look upon California and despair. Last weekend, Gov. Jerry Brown delivered the latest in a long line of bad news. Turns out the budget deficit is far worse than he claimed in January: What then looked like “just” $9 billion worth of red ink is now $16 billion. And tax revenues in April came $2 billion short of state projections.