Thinking the Unthinkable, A California Bankruptcy

Flopping Aces ^ | 12-27-09 | Disturber

[Starboard]

At the same time, there has been an almost unbelievable rise in municipal and state compensation levels. At one time there was a perceived tradeoff between the security of civil service positions and a compensation level that was less than in private industry. That has completely reversed. As a group, state employees and municipal employees are compensated at levels that far exceed those in the private sector. The state has literally thousands of employees whose salaries are in six figures and that does not include a benefit load that exceeds fifty percent.

The exact same thing could be said about the federal employee compensation system.

[ridesthemiles]

Illegal aliens have turned California blue. The state has 12 percent of America’s population and 32 percent of America’s welfare population. That, in a nutshell, is what is killing California.”

I moved there in 1964.

I left there in 2004.

YOU are 1000% correct.

Tried to stem the tide of the illegals- and the Federal judges turned over the voting populace time and again.

Let the Federal judges that added to this mess explain themselves.

[Frantzie]

Illegal immigration and liberalism killed CA. Also killed MI and a few other states.

[nmh]

Or Johnson or FDR and the list goes on and on and on.

And we still put these basTURDS in office.

Hell, why don't they move to Cuba and Venezuela or Africa and he happy there in that destruction?

[Logical me]

The Communists Party (formally the Democratic Party) are corrupt criminals that destroy everything they touch. And the blind voters that follow that party are so brain washed that all they want is the Government to support them. Sad that is what America has become. Little over half of the population does get it but have been and has lost power to hold the Constitution and smaller Government. Less regulation and less taxes to stimulate business and personal income. That is the growth that California trashed.

[listenhillary]

Those on the left will insist that it was a failure of capitalism as they are led off in their straight jackets.

[Thommas]

How was it that a state with low taxes was able to finance all these grand public works that led to a wonderful life?

It was a state run by business friendly, Republican promulgated regulations; and, at its core, was free market and Constitutionally sound. Then, Democrats (socialist/communist factotums to the CTA, SEIU, and Mafia) took over to transform California into a workers' paradise. Remember, from each according to his ability, to each according to his need? The ability for the majority of Californians to to extend a clutching hand, and their needs are extensive. In the barrios of LA and the lush spas of San Francisco, the voters all pull the donkeys tail on election day.

[20 years too late]

Bankruptcy and a new constitution are the only way to cleanup our mess.

[Frantzie]

Deport illegals too.

[Thommas]

Mein Gott! Dat’s phunny!

[kittykat77]

And a few decades ago, the state built incredible large-scale public works to capture, store and deliver fresh water to the citizens as well as numerous power plants and transmission lines to assure a reliable supply of electricity.

Did California do that? Or are you thinking of the giant federal projects dating back to the 1930s?

[Jim Noble]

Only to be reversed by the courts...The Oregon Supreme Court found it illegal and over turned that reform

The courts can neither levy nor collect taxes. And the appropriations of any legislature are only good for the duration of that legislature (i.e., the acts of one legislature cannot bind its successors).

Therefore, these phony "contracts" entered into by executive officials with public employee groups cannot possibly be valid.

[weeweed]

If they actually secured the border, developed all of California’s energy reserves, and then once again made agriculture a water priority California would come back in no time.

[kittykat77]

Good article, although it left out a few items. First, Southern California was hit hard by naval shipyard closings. Also, aerospace and aeronautical industries in the state started playing states off of each other in trying to obtain the largest tax abatements. California lost some of those manufacturers as well. Also also: earthquakes, fires, and mudslides are very expensive.

[Frantzie]

LOL! Sad. Rudy is a better man than that. Sad he is a RINO. McCain looks like an evil ghoul there. Arnold you face is so tight from steroids und der plastik surgery.

[386wt]

Both of these things can be done by simple legislation, which is, by definition, "available to the legislature"

Not this legislative body.

[Professional Engineer]

the structural deficit in California cannot be solved by any means available to the legislature,

I can think of several, but they would mean not getting re-elected for the politicians involved.

California, a good place to be from.

[Oldexpat]

Actually the insurance disasters brings money in for reconstruction from all over the world. They are a net gain.
The Defense took a hit in the early 90’s but has recovered somewhat. Some Defense industry left the state due to regulation and expenses.
When the citizens voted to cut off any financial assistance to illegals..the state Govt allowed the lowest court to void the election results. They should have pursued it all the way to the supreme court.

[ProtectOurFreedom]

Lots of California public-financed water projects and private utilities built their own infrastructure. There weren’t a lot of federal projects here like the Bonneville Power Authority and the TVA. Congress was involved, e.g., it passed an act (Raker) that allowed the building of the Hetch Hetchy dam.

[Professional Engineer]

I read that out loud to my family. They were all ROFL.