Property Tax Revenue Down, California Budget Stalled

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 The Governor's in Asia, the Legislature's in recess and there's still no budget, but billions of dollars in bills keep rolling in. Most Californians can weather the fiscal storm, unless they study or teach at community colleges, do business with the state or need state-funded clinics for healthcare. And, while elected officials ignore their jobs, property values are going down, along with state revenue. Public schools and local governments are in for big trouble. Also, sailing with one hundred Blue whales between San Pedro and Catalina. On our rebroadcast of today's To the Point, the income gap between the rich and the poor makes the US comparable to some banana republics. What are the causes? What does inequality mean for the middle class? We get some conflicting answers.

Banner image: Protestors hold signs during a demonstration outside of the California State building in San Francisco, California. Photo: Justin Sullivan/Getty Images