Tough road for bonds
A high-speed bullet train connecting Northern and Southern California - $9.95billion. Tony Castro in the Daily News.
Rebates to companies and consumers to buy hybrid vehicles - $5billion.
Help for children's hospitals - $1billion.
These price tags sounded reasonable in May, when the nation's economy was more stable and the Dow stood at a lofty 13,000. Now, not so much.
Getting California voters to approve new taxes for a bunch of bonds on Tuesday's ballot appears to be a tall order, especially with Thursday's news that the gross domestic product fell at an annual rate of 0.3 percent during the third quarter. One more negative quarter and the U.S. economy will officially enter a recession.
About The
Sausage Factory
Los Angeles Daily News City Hall reporter Rick Orlov writes about politics on the local, state and national stage.
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