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Jun
30
Written by:
ACSS Communications
6/30/2009 7:15 PM
The Sacramento Bee's "Capitol Alert" blog published this brief item tonight: "State Treasurer Bill Lockyer laid out some disheartening numbers about downgraded bonds today. If the state is forced to issue IOUS and has its credit rating downgraded to a BBB level, it could incur an additional $8 billion in costs. Lockyer was quick to point out this is both 52.5 times the amount spent on state parks in a year, and more than it would take to give taxpayers a 15 percent cut in personal income taxes (bold theirs).
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