shintao
Take Down ~ Tap Out
- Aug 27, 2010
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There are 3 states whose profligate spending and generous deals with public employees put them in danger of bankruptcy: NJ, NY, and CA.
NJ has started to address its spending problem with Gov. Christie, NY has yet to address it but come next year perhaps the new Governor will do so but CA is arguably worse off then both of them for two mains reasons. Its noble attempts at inexpensive higher education, generous benefit package for state employees, its own Cap and Trade and other public spending promise to deliver them unto penury. Second and probably more importantly is the very mindset of leftist dependency on the government shared by a significant amount of the CA electorate. If the populace has become so dependent on public spending and subsidies that the dreaded tipping point of no return to personal responsibility has been reached, should the rest of America bail them out? Would doing so present moral hazard writ large?
JM
It is no time to be zealous over government dependency, when California has a history of supporting 2-3 other states annually with it's federal taxes. And with it's resources and import/exports, you would only be cutting your own throat. I live here, but I don't give a damn what your do or think. If the economy goes to shit, the property devalues and I can take advantage of investments and lower interest rates. If you help with aid, my property portfolio will increase in value.