Word: davises
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Well, there's California's $38 billion deficit, the largest state shortfall in history, a number larger than the entire budget of all but one other state (New York). Much of the deficit is due to the collapse of the dot-com universe, which powered the state's economy in...
Davis' fate has had a seismic effect on Republicans in California and Washington, though for different reasons. As Republican state hopefuls--possibly including Arnold Schwarzenegger--line up to vie for Davis' job, the White House is keeping its distance. With eyes fixed on the next presidential election, the White House...
Despite popularity ratings as low as 21% and a host of rivals circling him, Davis is defiant. He dismisses the recall campaign against him as "partisan mischiefmaking by Republican right-wingers." In an interview with TIME last week, he said he would not resign, adding, "It's like the [Oakland...
Davis' plight is grim, but it's hardly unique. States across the nation are struggling with falling revenues and budget crises, and overall spending by the states is set to decline for the first time in 20 years. New York is hiking income and sales taxes, Alaska is charging higher...
"We are the state with political reform and all these innovative ideas--then we fall on our face," says Stephen Levy, director of the Center for Continuing Study of the California Economy in Palo Alto. "That's pretty embarrassing." Nobody is more embarrassed than Davis, who has seen his state...