From my original post:
Governments DID see this coming, both federal and state. California, at one time, was prepared for exactly this crisis. The 2008 financial crisis wiped out state budgets
Governments DID see this coming, both federal and state. California, at one time, was prepared for exactly this crisis. The 2008 financial crisis wiped out state budgets
All those item were needed 3 weeks ago, but the stock were never fully replenish since. Most of those things are perishable.
WTF.
https://www.latimes.com/california/story/2020-03-27/coronavi...
FWIW CA's tax system is pro-cyclical, because they do tax the richest 1%'s more, but the result is that 1%'s don't make any capital gains in recession years so state tax revenues get obliterated during recessions.