Cal's 6/15 Budget Deadline, Junk Bonds & Prison Industry

As California's June 15 budget deadline approaches, the reality of the Democrat-Republican debacle, promoted by the worst governor in California's history, Democrat Gray Davis, becomes more apparent.

The World Socialist Website, 6/10/03, has a good analysis of the Califonria budget crisis, at:
http://www.wsws.org/articles/2003/jun2003/cali-j10.shtml

The banks have provided an $11 billion loan on the condition that Davis' reactionary budget is implemented, guaranteeing massive layoffs and lower wages in all departments except the prison-concentration camp industry, and in particular, except for prison guards.

Gray Davis is currently trying to fight his well-deserved recall by casting himself as some kind of liberal on the abortion issue, an outright lie. Not only is he not actively pro-abortion, but rather simply passively pro-choice while he cuts the healthcare budget, his support of the prison-concentration camp system and building a death camp at San Quentin clearly makes Gray Davis an outright fascist.

The article has this warning for what is to come:
"There have been calls from the legislature that the impasse is so unshakable that the courts and banks will have to step in and impose a solution, as they did in New York City in 1975. In a blow last week to the state’s credibility, state-issued bonds that borrow against the state’s tobacco settlement were reduced to junk status. This designation prevents pension funds from buying the bonds and significantly raises the interest rates that the state would need to pay as a condition for continuing to borrow."

Only a serious fightback by the workingclass, with a statewide general strike and cutting all ties to the Democrat-Republicans can stop this downward spiral.