[bigtechdataeng]

Let’s hold off on the idea that the California government is going to fade into nothing. From the linked article:

“However, the report concludes that the projected deficit as a percent of general fund spending “is modestly smaller than the budget deficits faced by the state in 2003 and in 2009,”

Also, I suspect there are a lot of Californians right now who trust their state leadership a more than federal leadership. (I am one of those people.)

[generalpass]

I don't remember the details offhand, but there was that amendment that passed since then which changes what the state can do when it runs deficits.

Both of those recession deficits were after years of economic decline. This economic decline is less than 8 weeks old. I was hyperbolic, but I'm not sure by how much.

What we haven't seen yet is that Fauci and others have stated there will be regional lockdowns when there are "outbreaks". I suspect that as soon as the business community sees this, many more will just close up permanently, even if they aren't in the locked down regions because many can't survive another lockdown and are risking almost everything to open up now.