Alan Auerbach Explains California’s Budget Conundrum

Politico.com, June 28, 2009 by Victoria McGrane
http://dyn.politico.com/printstory.cfm?uuid=1DDF0EDD-18FE-70B2-A8460AE0A23ED033

The California situation amounts to a person “holding a gun to his head and saying, ‘If you don’t do something, I’ll shoot myself,'” said Alan Auerbach, an economist and public finance professor at Berkeley. “On the one hand, California needs help; but on the other hand, it certainly wouldn’t be unreasonable for the federal government to insist that California help itself too.”