The problem is not so simple. It is made infuriating by the fact that state employees are typically paid 2x private sector employees and they expect the tax payer to just write a check instead of laying some of these people off like any business owner would.
Here’s the trouble ... The State of California has an economy and population as large, if not larger, than Canada. It’s substantially larger than many of the nations in Europe we call allies. It is not a mere state. It could separate off as a stand-alone nation and be an immediate and dominant player on the global state.
The result is that most every retiree in the country, whether they know it or not, is exposed to California in the form of pension plans, bond funds, and other investments. Some telephone operator may have no clue that a huge portion of the money that funds her pension may come from California issued bonds. Thus, a state bankruptcy could cause significant strain on her pension plan, which could, in turn, cause the Pension Guaranty Corp to step in, which has to be bailed out by law anyway.
If California did fail, people in Kansas would find themselves bouncing checks even if they didn’t realize they had exposure to the state.
Thanks for being so enthusiastic and posting our most recent announcement here on Free Republic. I'm sorry to see from the comments thus far that we have received a warmer reception on Facebook. Certainly, no one here has gone to our site and read our 159 word ballot initiative proposal. So let's dispense with that problem and observe it here:
“The State of California shall make no law prohibiting the free exercise of the People’s exclusive unalienable Right to Life; or abridging the freedom of the People’s exclusive unalienable Right to Life, Production, Use and Consumption of air, CO2, water, habitat for humanity and energy generating natural resources. The State of California shall not levy any taxes, fees, assessments or fines on the Production, Use or Consumption by the People of air, CO2, water, habitat for humanity and energy generating natural resources. Upon passage of the WFF plebiscite initiative by the voters, it repeals the 1970 California Environmental Quality Act (CEQA), California Coastal Act of 1976 (Prop. 20), California Endangered Species Act (CESA) and the US California Global Warming Act (AB32), and Exempts the People of California from ALL Federal powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the State of California respectively, or to the People.”
If you corner any of the conservative California State Senate Members of the Assembly or Senators, you will find that they almost all universally agree that a key solution to California's problems would be the ability to vacate or void state, county, and city union members’ contracts. One such action that is highly watched can be found here:
http://articles.sfgate.com/2009-03-18/bay-area/17214303_1_bankruptcy-labor-contracts-union
But even given such strong medicine, the same officials will shake and sweat about the predicament California is in with her myriad laws tying the hands of the producers in the state. So enters the Water For Fighting California Ballot Initiative. Our initiative lets loose the hands of those that would like to work and produce wealth. Well, this is been a long entry. I would invite all Freepers to our website (the links are above) to read our preamble statement and take in the many links that we have chosen to support our effort. Remember, it took Proposition 13 four times on the ballot to attain victory. We are an experienced organization, but we ask you to help fan the flames of the fire we are starting by participating at the website and making our message viral. God bless our Freeper friends.
why not just pass a Calif Ballot initiative which states all the mandatory spending of the previous referenda is undone.