State Auditor: California’s Net Worth Negative $127.2 Billion

California --Cagle CartoonsState of California –Cartoon: Daryl Cagle

(Sacramento Bee) Were the State of California a business it would be a candidate of insolvency, with a negative net worth of $127.2 Billion according to the financial report issued by State Auditor Elaine Howle and the Bureau of State Audits.

Remember when Gov Jerry Brown claimed in his ‘State-of-the-State’ address in January, that California had confronted its critics by erasing decades old deficit and praised his Democratic state controlled legislature for the state’s economic and budgetary turnaround–he lied!

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