On one hand, we learned that the Los Angeles Economic Development Corp. expects per capita personal income in Orange County to drop for a second consecutive year as unemployment continues to rise and retail sales continue to fall. And on the other hand, OC home foreclosures are expected to continue rising. Basically, Orange County doesn't look to be exiting this recession quite yet.
It's just too bad that we can't expect more stimulus to help us soften the blow. Thanks to Arnold's "stimulus killer" budget, most of the economic benefits from the federal stimulus that are helping the rest of the country bottom out and turn around will be offset by the draconian state budget cuts. So once again, California will be losing out at the very least... Or may even hurt recovery efforts for the rest of the nation.
And unfortunately, the "bidness lobby" here in Nevada still doesn't get it. No matter how much they try to steal business from California by telling them how "high" taxes are, those of us who've seen the budget crisis there firsthand know what the problems really are. And honestly, same goes for Nevada.
So will we have enough legislators (and hopefully a sane Governor, too!) in office in 2011 to realize all this?
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