California Gets a (Short) Respite

This article is a good summary of all that has gone wrong in my native state. It’s rapidly turning into a third world country with all the attendant crime, trash, lousy infrastructure and entrenched politicians. Some bullet points:

~Teacher pay and benefits 17% higher than the national average (adjusted for expensive living)
~Spends 70% more per capita (compared to national average) on welfare recipients because it has refused to encourage them to work
~2004 to 2007, 32% increase in the state budget
~9.3% unemployment

In other words, expect the Golden State to be in desperate need of a bailout soon, one that will certainly gain a receptive ear in the White House because Washington can’t conceive of our largest state defaulting on its debt, even though the prospect has now sunk California’s bond rating lower even than Louisiana’s.

But also expect Washington to take some heat if it simply bail outs out California, especially now that we have governors like Mark Sanford of South Carolina pointing out that the federal aid to states amounts to a subsidy by citizens of fiscally responsible governments to states where legislators have chucked responsibility out the window.

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