If the world without a strong American economy struggles, so too does an America without a strong California economy.
The Golden State, which once represented the promise of America, is mired in swampland of broken promises, graft, political stupidity and liberal fantasy.
And if California represents the very best government that liberals can give us- and it likely does- then this country had better take a deep breath and step away from progressive math.
Because, it just doesn’t add up.
California has a government that is structurally unable to support its’ addiction to runaway government spending- like DC; they have “balanced” their budget based on the fantasy that the federal government will bail them out with increased taxes- like DC; they have municipalities in thrall to public sector unions- governments choosing union benefits over investor rights- like DC did in the GM bankruptcy.
“Step right up, ladies and gentleman, and buy a bond. Don’t worry. It’s safe. If we can’t pay, we’ll just declare bankruptcy. And hit you for another loan.”
Read more: http://finance.townhall.com/columnists/johnransom/2012/08/27/the_bankrupt_leading_the_bankrupt
The Golden State, which once represented the promise of America, is mired in swampland of broken promises, graft, political stupidity and liberal fantasy.
And if California represents the very best government that liberals can give us- and it likely does- then this country had better take a deep breath and step away from progressive math.
Because, it just doesn’t add up.
California has a government that is structurally unable to support its’ addiction to runaway government spending- like DC; they have “balanced” their budget based on the fantasy that the federal government will bail them out with increased taxes- like DC; they have municipalities in thrall to public sector unions- governments choosing union benefits over investor rights- like DC did in the GM bankruptcy.
“Step right up, ladies and gentleman, and buy a bond. Don’t worry. It’s safe. If we can’t pay, we’ll just declare bankruptcy. And hit you for another loan.”
Read more: http://finance.townhall.com/columnists/johnransom/2012/08/27/the_bankrupt_leading_the_bankrupt
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