This article should scare anyone thinking that we are coming out of the recession. We are just about to enter the precipitous plunge of the second half of the "w". The question is, is California our Greece, or our salvation? The answer is now, I believe only months away. Schwarzenneger Preps "Terrible Cuts" to Close Deficit Here are some very important warning signs of what is and will need to be done. This is going to be the case with every nation in the world. Even if they do raise taxes it will still happen. Ahnold is being smart on the desire to not raise taxes. Taxes slow down productivity. It's a truism, because every tax takes from the private sector which is the engine of what generates money for government to take. This is the cruel part of it it all. Those who are the nearest to real disaster will suffer the most. They could try to go after the unions, but they are too powerful politically. Therefore the Unions will be safe for now, and the unconnected poor will suffer for the sake of those who have, through the pension funds, put the state into this mess. Just like a city threatening to close fire stations and laying off current firemen, they ignore the real drains of FORMER employees are putting on their coffers. Of course, the hope is the feds will pay this off. My question is this: With WHAT? The world is broke. But the momentum keeps carrying us down the track a little farther for now. This is what the world is facing. Socialism has pushed us here and bankrupted the world through it's foolish demands. Now is our last chance to reform and purge out those truly responsible for the dire straits we are in. Otherwise, the suffering will grow even farther.