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by mperham 2132 days ago
California can't print more money, the Fed can.
2 comments
dragonwriter 2131 days ago
More to the point, California (both Constitutionally, and practically because of the market effect of being the issuer of the debt-denominating currency) borrow as freely and cheaply as the federal government.
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CWuestefeld 2132 days ago
The GOP has no power over the Fed, either.
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dragonwriter 2131 days ago
> The GOP has no power over the Fed, either.

The Fed Board are Presidential appointees and currently the board has four GOP members and one Democrat. The GOP controls the Fed.

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