WASHINGTON (MarketWatch) -- California is on the edge of recession, economists say. Or perhaps the nation's most populous state is already in one. "California seems to be sliding into recession," wrote Jan Hatzius, chief economist for Goldman Sachs, in a research note earlier this week. Hatzius based his appraisal on the sharp increase in the unemployment rate in the state from 4.7% in November 2006 to 5.6% in September 2007. http://www.marketwatch.com/news/sto...x?guid={663B7DEA-A93C-42C3-8180-F7CE099373DC}
Maybe they need more government programs. They could start taxing anyone making more than 100,000 per year a surcharge. they could then use the money to build more prisons which would create more jobs. They could increase the processing fees for anyone that wants the privilage of starting a business. maybe a few more business taxes will help also. everyone knows they only have money because they take advantage of consumers anyway. they could enforce more serious crime laws like arresting old people who put their medication into those plastic day reminders. A clear violation of federal controlled sustance laws. This would fill up the prisons and then they would need to hire guards. this would help with unemployment. raise the sales tax and hire more state revenue agents. this would help with unemployment. use the added tax revenue that is not used for prisons and government workers to raise the welfare rates and public assistance. less people will want to work and then the unemployment rate will go down because less people will file. actually its pretty simple, just raise taxes and increase the government. problem solved.....
Let's see, you run out the business community, replace them with illiterates from Mexico.... then you are the recession capitol of the US... huh, what a surprise..
We here in California might be rolling over into a recession but we're still number 1. Even with a recession we still kick Texas' @zz. State GDP, 2006 Bureau of Econ Analysis 1 California 1,727,355 2 Texas 1,065,891 3 New York 1,021,944 4 Florida 713,505 5 Illinois 589,598