Guy,
I truly hope you are right!
It’s been a long time coming!
And the people are PO’ed.
Ya think?
Bankrupt the bastards!!
OFF with their heads!!
If America is a body, California is the a&&.
Looks like big government is going to need a bailout from the private sector.
I suspect the rest of the nation will have to bail out California at least a few times before they wash their hands and let it finally collapse.
You just can’t bail CA out without a plan to resolve their core issues and I don’t see how these can be solved.
If California goes bankrupt and is bailed out by the federal government on terms similar to what we’ve seen with the private sector bailouts, then California is arguably no longer a sovereign state. If that happens the legitimacy of their representatives in Congress is very much in question.
The trouble is, many states are, or will be in the same predicament!
You can not spend your way to prosperity...hear that Obama and your cult followers?
Be Ever Vigilant!
Just as CA leads the nation in so many things, it will be the first state domino to really collapse. If CA can really be fixed, then it could serve as a blueprint for fixing the whole country. This will include entitlement reform, busting unions, eliminating nutty regulations, and streamlining the state workforce. The problem is that the Liberals will probably not admit defeat until there are uncontrollable riots in the street and Sacramento is buring. In short, they will not allow the state to be saved until it is destroyed.
‘TARP’, you will recall stands for ‘Troubled Asset Relief Program.’ Indeed California is troubled … in the psychiatric sense. Yet classifying Cal as an ‘asset’ will irk anyone east of the Sierra Nevadas. More to the point, TARP was established to soak-up toxic loans and other real property. Congress never intended for this loot to be lobbed at other governments.
snip....
This should be very, very interesting. Hard to imagine Congress making money available to bail out California. Not that most democrats would not have a problem doing it under cover of darkness in secret, with a binding resolution to appease their master overlord Obama Union thugs
Even the sycophant media would report it, the backlash would be popcorn time
We (the taxpayers) bailed out GM and they’re gonna file bankruptcy.
We (the taxpayers) bailed out Chrysler and they have filed for bankruptcy.
It will feel so good when we (the taxpayers) stop beating our heads against the wall.
I know, I know, Kali is “too big to fail.”
Good stuff.
The California Nightmare ping
I heard legalizing drugs would fix everything... /s
Don’t know what it is currently, but here is something to consider:
http://www.calinst.org/bulletins/b1204.htm#_1_3
“On Monday, February 14, 2005, the California Institute released the latest report examining the fiscal relationship between California and Washington. Entitled “California’s Balance of Payments with the Federal Treasury: 1981-2003,” the report finds that California taxpayers sent $50 billion more in federal tax dollars to Washington in 2003 than the state received in federal spending for contracts, salaries & wages, grants to state and local governments, and direct payments such as social security and medicare. The discrepancy amounted to $1,409 for every Californian or 79 cents in federal spending for every $1 of federal taxes paid. The $50 billion number represents a new record for any state, but California’s donor-state status is not a complete surprise, given that the state is relatively young (a smaller percentage of older persons suppresses the share of Social Security and Medicare dollars) and relatively wealthy (higher incomes drive higher income tax payments). Relatively, the state also receives a far smaller proportion of federal defense contract spending than it did 20 years before.”
The report is available at http://www.calinst.org/pubs/balance2003.htm . Alternatively, a pdf version is available in two parts: the text and graphics are available at http://www.calinst.org/pubs/Bal03.pdf , and the accompanying tables at http://www.calinst.org/pubs/BalCht03.pdf .
Seems like California has been bailing out other states for a long time. Tide is just turning.
Juvenile writing like this is not effective at all. It may get a few yucks here on this site, but is meaningless. Phrases such as, “cleaning himself after visiting the little dictator’s room” is infantile and is something edited out of a junior high school newspaper. Serious people wanting to actually influence opinion don’t write like this. But, having said that, I agree, but then again, you aren’t trying to influence me.