It's Thursday, July 2nd, and it looks like the great state of California is in a tailspin. The legislature once again failed to reach an agreement on temporary measures to keep the state solvent, and the state controller will start issuing IOU's today to cover current expenses (including income tax refunds). It's remarkable that the Governor pressed Republicans on the legislature to block the temporary measures proposed by the Democrats, only to then blame the legislature for failing to reach an agreement. Looks like Gov. Schwarzenegger wants it both ways.
In related commentary, California is characterized as "sinking," and when it comes to the University it looks like students are beginning to look elsewhere (much to the University of Arizona's delight).