Legalize It

Those crazy Californians are thinking about legalizing recreational marijuana.

Could marijuana be the answer to the economic misery facing California? Democratic State Assembly member Tom Ammiano thinks so. Ammiano introduced legislation last month that would legalize pot and allow the state to regulate and tax its sale - a move that could mean billions for the cash-strapped state. Pot is, after all, California's biggest cash crop, responsible for $14 billion in annual sales, dwarfing the state's second largest agricultural commodity - milk and cream - which brings in $7.3 billion annually, according to the most recent USDA statistics. The state's tax collectors estimate the bill would bring in about $1.3 billion in much-needed revenue a year, offsetting some of the billions in service cuts and spending reductions outlined in the recently approved state budget.

Also, New Jersey is allowing a medical marijuana bill to move forward, with provisions for growing and selling. Minnesota is also considering a bill that would allow the use and growing of medical marijuana but no sales.