Monday, June 20, 2011

States Debt Pit: Meredith Whitney interview by CNN

I don't know how many of you have seen this video clip of Meredith Whitney, but if you haven't it is well worth the time. The topic is States Debt pit and was on CNN.

In the same article I read the following alarming fact: "Taxpayers have spent $4 billion since 1978 on California's capital punishment system -- and with only 13 executions to show for it. That's about $308 million per execution.

And without substantial changes, the state's total bill will expand to $9 billion by 2030, according to a new study by federal appeals Judge Arthur Alarcón and Paula Mitchell, his law clerk and a professor at Loyola Law School. The situation is now so severe, voters must choose to pay higher taxes or abolish the death penalty, the authors say."

To read the entire article click here.

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