California's Credit Rating Jumps

The Moody's credit rating agency says California's credit rating is no longer the worst of any U.S. state since 2009, so things are looking better for the Golden State in 2012.

California's A1 credit rating follows the progress made by state lawmakers made progress last year in adopting a workable budget last year that made progress in reducing the structural deficit.

The state's latest credit rating from Moody's Investor Service is great news for the taxpayers of California.  The better the state's credit rating, the less taxpayers fork over for interest on loans the government takes out.

All three major credit rating agencies have more positive views of California's credit worthiness because Governor Jerry Brown's new budget proposal would eliminate the state's multi-billion structural deficit in just five years.