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NEWS ABOUT: California economy

Calif. to Enact Toughest Renewable Power Law in US

Would require 33% of energy to come from renewable sources by 2020

(Newser) - California is poised to enact a law that will require the state to get 33% of its power from renewable sources by the end of 2020—well up from its current target of 20%, and by far the most in the nation, reports the AP . "Instead of watching from... More »

Next Financial Crisis: Collapse of States, Cities

Mounting debt, accounting tricks could set up bust among municipalities

(Newser) - Several US states and cities are sitting on fiscal time bombs that could send the country careening into a domestic version of the EU debt crisis, financial experts warn. Pushed to the brink by the downturn, state and local governments are riding trillions of dollars’ worth of debt—much of... More »

Dirt-Cheap Calif. Pot Triggers Grower Panic

'Emerald Triangle' suffering amid glut

(Newser) - Moves towards legalizing marijuana are creating hard times for the marijuana farmers of northern California. The growers—who prospered when government crackdowns sent prices soaring—are suffering from increased competition and consumer preference for indoor-grown marijuana. Pot's wholesale price has plummeted, and many fear the 30-year-boom in California's "Emerald... More »

Meg Whitman Is the Anti-Palin

She's known for her business smarts, not her personality

(Newser) - Meg Whitman is in some ways the political polar opposite of Sarah Palin, writes Sara Libby. As she fights for the GOP nomination in the California governor's race, Whitman is relying on her smarts and her no-nonsense business acumen. The self-described "frumpy" dresser is "no 40-something pinup,"... More »

JPMorgan Chase to Lend California $1.5B

(Newser) - After joining other major banks in snubbing cash-strapped California last month, JPMorgan Chase has changed tack and is lending the state $1.5 billion to end its IOU program a month early. The short-term loan will enable California to start redeeming on Sept. 4 the IOUs it has been using... More »

Schwarzenegger Blew Chance for Real Reform

Would-be savior turns out to be just another lying politician

(Newser) - Arnold Schwarzenegger came into politics with an uncommon opportunity to tell Californians hard truths about taxes and governance, using his surprising mandate to press for reform. Instead, he became just another governor repeating "the same lies and the same nostrums," pretending citizens can have good public services without... More »

Calif. Voters Torpedo Budget Crisis Measures

Defeat leaves Governator facing massive service cuts

(Newser) - Californian voters soundly rejected five ballot measures that would keep the hard-hit state economically solvent until the end of the year, on a turnout of little more than 10%. The vote against extended tax increases and capped spending is a sharp rebuke to Gov. Arnold Schwarzenegger and state legislators who... More »

Recession a Long-Term Bummer for SoCal, Dude

(Newser) - The recession hit Southern California earlier and harder than almost any other part of the country—and it’s likely to linger a lot longer too, Steve Pearlstein writes in the Washington Post. The area played a “central role in the Bubble Economy,” and now, being the “... More »

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