Growth, California Style

Read Megan McArdle’s post on Gray Davis’ suggestions for federal economic policy. The comments are also particularly illuminating, including the one that points out that California’s budget deficit is larger than the combined deficit of all of the rest of the states.

The comments also have a discussion of the extent of Enron’s culpability in California’s economic woes. Most commenters dismiss their importance, which is in keeping with the recent ISO report I discussed in this post, and will analyze in further detail in the very near future.