The highly respected and non-partisan Legislative Analyst's Office (LAO) says the California Unemployment Insurance Fund is insolvent and worse, will face a deficit of $20 billion by the end of 2011. The numbers are really dismal.
California's most famous U.S. Representative, House Speaker Nancy Pelosi, is taking heavy fire from all sides going into the November mid-term election.
Proposition 22 on the November ballot is the latest fiscal battle between the state and local governments -- and it could be the knock-out punch for the state in its efforts to close its chronic budget shortfalls.
