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Like A Lottery Ticket Being Your Retirement Fund
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How f'd up is California? We're only now finding out that the state budget numbers were predicated on the assumed success of Facebook. I am not joking. They projected tax revenues based on a blue-sky prediction of untold riches from Facebook. The tanking of the company's valuation, which anyone with knowledge of the last bubble could have predicted, means that the state is facing a shortfall of hundreds of millions. They keep screwing up and we keep re-electing 'em. (Sacramento Bee)
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