According to today’s Mercury News, California’s budget deficit will far surpass preliminary estimates. The Legislative Analyst’s Office is predicting a deficit of $6.3B in FY2009-10, followed by deficits of about $20B for the next five years. Through FY2014-15, the predicted deficits total $109.7B. (Note: that’s almost as much money as six major U.S. banks put aside for bonuses in the first nine months of 2009.)
At least the state is investing in education! Oh, wait…
UC regents recommend 32 percent fee hike
This cannot go on much longer.
Julius, you may have been right about the few remaining sources of growth in the U.S. economy. According to this BusinessWeek blog, there’s substantial unmet demand in the cruise industry for “gentleman hosts”:
Gentleman hosts exist for the simple reason that there are more single ladies than men on cruise ships and cruise lines like to provide dance partners and companions for their lady passengers. And while the criteria for gentlemen hosts are very strict, there are numerous vacancies available. Cruise lines offering gentleman host programs include Cunard Line, Delta Queen Steamboat Company, Orient Lines, Silversea Cruises, Radisson Seven Seas Cruises, and World Explorer Cruises.
… gentleman hosts get paid less but have nice fringe benefits.
Thank goodness we transitioned to a service economy!