Posted on 12/27/2010 5:21:08 PM PST by Nachum
It’s looking increasingly likely that California will get bailed out by the federal government. The Golden State is $70 billion in the hole. Analysts expect that figure to reach $150 billion within four years — and that’s not including the state’s $500 billion unfunded pension liability. Spending needs to be cut dramatically, but it won’t be; the state is too politically dysfunctional to do that. And the election of big-spender Jerry Brown will only make things worse. (Incidentally, Governor-elect Brown recently described his state’s budget problems this way: “It is much worse than I thought. I am shocked.”)
Most conservatives are adamantly opposed to bailing out any state, especially California. They argue that Californians in particular don’t deserve a bail out, that a bailout would set a bad example for other states, and that it would cost too much.
But these arguments assume that a bailout of California would come with no strings attached. That may be what ends up happening, but it doesn’t have to. It’s possible to make the bailout contingent on Sacramento making drastic budget cuts and passing constitutional amendments that radically reform the state’s political system.
And the state’s political system is certainly in need of reform. Some ideas: Scaling back the state’s maze of regulations; eliminating some of its hundreds of unnecessary boards and commissions; imposing a real spending cap (the current one is too high to make a difference); laying off state employees; and reducing future pension obligations.
(Excerpt) Read more at dailycaller.com ...
California is like a drunk - we need to hit rock bottom before we start to rehabilitate.
They'll just take it as a green light to spend some more.
There won’t be any belt tightening or other reforms. Like every other government do-good project, it will just become another black hole into which politicians will throw taxpayers’ dollars.
And another thing: Most other states are hurting too. Will anyone come and bail out my state when it sinks into bankruptcy? Probably not.
As my mother said, the way you make your bed is the way you lay in it. In other words, you created the situation; you get out of it yourself.
I bet this guy believes in Tinkerbell, too.
I don’t want my own state of Michigan getting bailed out let alone California.
You just need to read the headline to realize this article was written by a moron.
If the GOP bails out California, there is going to be a conservative revolt like never before. Make them increase the taxes on Carl Reiner and the other Hollywood elite. They got them into this mess. Make them dig their way out.
I would bail them out under the following conditions.
1. Eliminate any regulations and agencies created after Ronald Reagan left the governorship.
2. Return tax rates to 1974 levels.
3. Decertify all public employees unions.
4. Arrest or close all companies and businesses that hire illegal aliens.
5. Return the California school system to the exact way it way it was in 1974.
This would be start before I would give them a penny.
“It’s possible to make the bailout contingent on Sacramento making drastic budget cuts and passing constitutional amendments that radically reform the state’s political system.”
Put all of the California politicians in jail with Madoff, and then we can talk.
The liberals in Kaulifornia would probably opt for mass suicide before accepting one of those conditions. Fine by me. They weren’t important people anyway.
I'm opposed to any bailouts of governmental entities, even if it's Northfield Township here, or nearby Ann Arbor close to home.
I cannot think of a single reason why we would want to bail out that bunch of big-government, elitist, socialists. I'm referring to the leadership, I realize there are some conservatives marooned in CA.
I say let them crash, badly. The harder the better. I want their utter failure to be an object lesson to the rest of the Country.
Right.
And we can end drug addiction by give junkies their fixes.
And we can end alcoholism by offering drunks free booze.
You left out a couple of things.
1. All publicly funded pensions must be halted. No pension contributions to any public employee by the state of California.
2. All public employees must earn wages that are equal or less than the private sector. Wages must be adjusted BEFORE any contributions are made to the California budget by the federal government.
Hey California!
“Learn to swim, I’ll see you down in Arizona bay.”
To continue with your metaphor, the GOP is like a great enabling abused spouse. They will vote to bail out Califa just to be able to go on TV, wag their fingers and announce they have imposed new controls. Any doubts after the lame duck compromise?
Bail out California or wipe the First Lady’s a** with my bare hand.
Gee, that’s a tough one. I’ll have to think about it...
A better article would be titled “Why liberals should not want to bail out California.”
California is one of the richest States in the union. Liberal Californians are always complaining that taxes are too low.
Well, stop whining and increase them in California to pay your debts. Increase taxes on the rich. You’ve got lots of rich to tax. Tax them til they scream. I don’t see any reason why poor people in Mississippi should be paying higher taxes to bail out a rich State like California. It’s not progressive. It’s immoral.
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