California, the ninth largest economy in the world, resorts to austerity

The Independent Wednesday 16th May, 2012

"You name it," he declared, "and we've got to cut it!"It wasn't the most nuanced announcement. But this is no time for subtlety. After years watching his state fall deeper and deeper into the red, Governor Jerry Brown used a gloomy Monday night press conference to unveil what aides described as the ultimate in austerity budgets.Welfare payments, healthcare for the poor, and benefits for elderly and disabled Californians will be immediately slashe...

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