Name one way California is worse off than Kazakhstan

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Kevin Roderick • January 14 2010 12:50 PM

Columnist Brett Arends writes today in the Wall Street Journal:

It now costs more to insure Californian municipal debt against default than it does bonds issued by the government of Kazakhstan, the central Asian country satirized in "Borat."
That is neither a joke nor hyperbole....

Borat, one. The Terminator, zero.

Yowza.

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