California's Greek Tragedy

The Reporter/ Vacaville CA ^ | Mar 18, 2012 | Michael J. Boskin and John F. Cogan

[I still care]

Long a harbinger of national trends and an incubator of innovation, cash-strapped California eagerly awaits a temporary revenue surge from Facebook IPO stock options and capital gains. Meanwhile, Stockton may soon become the state's largest city to go bust. Call it the agony and ecstasy of contemporary California.

California's rising standards of living and outstanding public schools and universities once attracted millions seeking upward economic mobility. But then something went radically wrong as California legislatures and governors built a welfare state on high tax rates, liberal entitlement benefits and excessive regulation. The results, though predictable, are nonetheless striking.

From the mid-1980s to 2005, California's population grew by 10 million, while Medicaid recipients soared by 7 million; tax filers paying income taxes rose by just 150,000; and the prison population swelled by 115,000.

California's economy, which used to outperform the rest of the country, now substantially underperforms. The unemployment rate, at 10.9 percent, is higher than every other state except Nevada and Rhode Island. With 12 percent of America's population, California has one-third of the nation's welfare recipients.

Partly due to generous union wages and benefits, inflexible work rules and lobbying for more spending, many state programs and institutions spend too much and achieve too little. For example, annual spending on each California prison inmate is equal to an entire middle-income family's after-tax income.

[Walmartian]

There are lots of school related layoffs for California.
http://www.dailyjobcuts.com/

[GonzoGOP]

Not what I said, you're being disingenuous.

Look who's talking. My only point and the point I have made in each post is that a nice climate alone is not enough in and of itself to save California. You are the one trying to throw in outside topics. As for twisting words that whole "economy doing better than the government" is spin pure and simple. Better doesn't mean good. Being hit in the head with a 2x4 is better than being shot. Doesn't mean it is good.

The climate in California is still nice, but companies are fleeing the state in record numbers. The climate in California is as nice as it ever was, and your unemployment is the second highest in the nation. If climate alone is enough than how do you explain those two statistics.

[dragnet2]

My only point and the point I have made in each post is that a nice climate alone is not enough in and of itself to save California

No said the weather would save anything...lol

Well how stupid is that?

That's like saying the tornadoes in the Midwest won't save the U.S....

The GOP moniker fits ya well!

((wow))

[GonzoGOP]

No said the weather would save anything...lol

The first post I replied to did. You are just one nasty piece of work. California fits you.

[dragnet2]

Please quote it so I don’t have to run around this comical thread to find it.

[dragnet2]

You are just one nasty piece of work.

LOL!

Don't be so angry!

[DAC21]

“I've already figured that my retirement is gone.... “

My lefty buddy is an Elementary school Teacher in California as well. He was bemoaning the fact that he wouldn't be getting Social Security, as Teachers didn't pay into the system. All the while he was telling me this I'm thinking... OK he is not putting 7k a year into a bankrupt SS systems, and that's a bad thing?. He tends to spend a lot of money in lavish vacations...this tells me he probably isn't saving that money and putting it into into a Roth IRA or other investments. Hopefully you have a better head on your shoulders.

[dragnet2]

You are just one nasty piece of work.

By the way, to cheer ya up a bit, lemme give ya the weather report:

Right now at 11:05 a.m. it's bright and sunny, about 61 degrees, a bit chilly, with a mild on-shore Pacific breeze, and unlimited visibility...Tomorrow is supposed to be about 70 degrees. Just gorgeous lovely weather.

Our geraniums, roses and orange trees are simply exploding and the tomato plants are bent over with juicy yummy fresh tomatoes. Even the Serrano chilies are dancing on the vines, singing in the sun!

[Savage Beast]

Greek Tragedy???

No.

There is nothing heroic about the slugs responsible for California's descent into the cesspool of decadence.

There is nothing more heroic or high-minded to these slugs than immediate gratification self-indulgence.

You give them far too much credit.

[vette6387]

What perturbs me the most is the notion that some folks have here on FR that somehow California is an isolated situation that the rest of the country can just “wish away.” Unfortunately what is really very good about California is what has lead to our current problems. It’s just too bad that all the fudge packers decided to bypass the Corn Belt and settle here along with all the retread Marxists from New York and Taxachusetts. My parents set up shop in San Francisco (in the Haight-Ashbury yet) in 1936. Even back then, they told me that the Communist professors @ UC Berkeley were vowing to make Berkekey the first Communist City in the country, and they are still trying.

[x]

Greek Tragedy??? No. There is nothing heroic about the slugs responsible for California's descent into the cesspool of decadence. There is nothing more heroic or high-minded to these slugs than immediate gratification self-indulgence. You give them far too much credit.

I wondered about that too, but the reference is to Greece today, which is going through serious budget troubles.

Headline writers try to be clever. Sometimes they overdo it.