[TADSLOS]

The mass exodus to Texas is already underway. Welcome to TexMexifornia.

[Banjoguy]

Thanks for posting this...nice piece of work by Mike Shedlock.

[Trapped Behind Enemy Lines]

No one could argue that California isn’t totally screwed up with over $167 billion in debt outstanding, a reckless state legislature, cities filing for bankruptcy, out of control unions calling the shots, Gov. Moonbeam pursuing his multibillion high speed train boondoggle, state over-run by illegal immigration....I could go on......the problems are endless here.....

The problem with all of this is that on a national level, the rest of the nation seems hell bent determined to follow our misguided path. Sacramento may have $167 billion debt
but Washington DC has over $16 trillion in debt. Yes CA did pass tax increases in November, but Washington is about to pass huge tax increases as well....the GWB tax rates are about to expire in just two weeks....plus there are are whole a bunch of new taxes contained within Obamacare.

Yes California is screwed up beyond belief.....what troubles me so much is that the rest of the nation is following our descent into hell, not learning from our mistakes.

[Hotlanta Mike]

When tax the rich does not work, it will be tax the middle class. Or as Howard dean now admits, everyone’s taxes will have to go up. Elections have consequences, enjoy.

[skeeter]

Thanks, Jerry Brown you chimp faced PO left wing S. Hope you and your union masters go very rapidly to a very hot place.

[BitWielder1]

California revenue is not up as much as expected, while spending is up way more than expected.

That was entirely expected by most people who can do math. I'm not surprised at all.
The mere mention of more cash tomorrow makes politicians spend it right away. That's how they are.

[Teacher317]

One major point to consider for those thinking about this issue... while the US can (almost... barely...) sustain a 105% total-debt-to-annual-GDP ratio, states cannot. States cannot print money to (temporarily) put off the pain of paying the bills. So while CA's ratio is a seemingly mild 9%, it's actually a very large and ugly number.

(They can, however, copy the feds by selling bonds etc, so they do have SOME recourse. Not saying it's wise, just that it is one of the common escape routes.)

[Don Corleone]

Socialism works until you run out of other peoples money...then it becomes California or on a grander scale..the USA and eventually the WORLD!

[blueunicorn6]

Two problems with California

1. Most of them do not understand the concept of CAUSE AND EFFECT.

2. Most of them don’t care about anything until it hurts them personally, and I mean it has to hurt them a lot.

Nice weather. Good beaches. Lots of wine. Everyone’s cool. Lots of big boobs to distract you. Great entertainment.

[DPMD]

The good news is that those in California earning $10,000 or less a year will, in time, be the new millionaires, for tax purposes.