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[[Richard Nixon]] is the only President to have been born in California, but he lived in New York when elected in 1968. [[Ronald Reagan]] was a resident when elected in 1980.
[[Richard Nixon]] is the only President to have been born in California, but he lived in New York when elected in 1968. [[Ronald Reagan]] was a resident when elected in 1980.
==Business climate==
California scores poorly in state ratings of business climate. In a CNBC survey, it ranked 32nd overall but last in "cost of business" and 49th in "business friendliness." IT (Intel, Google, Hewlett Packard, Cisco, Apple, Yahoo!) and biotechnology remain strengths, but some traditional industries are struggling. High costs, as well as tax breaks from other states, have caused movie studios to shift production from Southern California. In 1996, feature films involved 14,500 production days in the Los Angeles area; in 2008, the total had fallen in half.
==Budget Crises==
==Budget Crises==
The state has had two severe budget crises in 2009, caused by high spending, a plunge in tax revenue (caused by the decline in income of the wealthy who pay most of the taxes), and a refusal of enough Republicans to provide the two-thirds majority in the legislature needed to raise taxes. Long term borrowing is not allowed--the state has to balance its budget annually, but many gimmicks are used.
The state has had two severe budget crises in 2009, caused by high spending, a plunge in tax revenue (caused by the decline in income of the wealthy who pay most of the taxes), and a refusal of enough Republicans to provide the two-thirds majority in the legislature needed to raise taxes. Long term borrowing is not allowed--the state has to balance its budget annually, but many gimmicks are used.