Posted on 07/14/2012 7:51:42 AM PDT by SeekAndFind
If we didn’t have California as a case study of fiscal insanity, someone would have to invent it. Nowhere else better illustrates what happens when a populist government fully embraces the progressive policies of tax, spend, and promise-public-employees-fantastic-pensions.
What else can you say about a state whose leading growth industry is municipal bankruptcies, whose leading export is companies and citizens fleeing tax increases, whose political leading lights include Maxine Waters and Nancy Pelosi, and whose leading economic policy initiative is floating government bonds to “invest” in yet more money-losing boondoggles?
Last week the California legislature endeared itself to both construction union leaders and environmentally enlightened central planners by approving Governor Jerry Brown’s $8 billion plan to begin building a $69 billion bullet train. This week San Bernardino declared Chapter 9 bankruptcy, joining Stockton, Mammoth Lakes, and Vallejo among the deadbeats that couldn’t make payroll.
We are only seeing the tip of the iceberg. Just because other California cities have not yet missed a payroll or a bond payment does not mean that they, or the state, are solvent. Quite the contrary. Were governments required to comply with the Generally Accepted Accounting Principles to which private companies must conform, the entire state and every city in it would be operating deep in the red.
And what is the progressives’ preferred solution to the kind of persistent structural deficits caused by their beloved policies? The same one-size-fits-all solution to every problem they’ve ever confronted—more taxing, more spending, and more public employees! If this sounds like circular reasoning, you may not have been clued in to the master plan.
The president will soar over California riding atop flying unicorn dropping bundles of cash printed by friend Ben Bernanke—paid for by all greedy millionaires and billionaires who aren’t carrying their fair share. Problem solved!
(Excerpt) Read more at forbes.com ...
bfl
“...whose political leading lights include Maxine Waters and Nancy Pelosi....”
How could he forget our genius US Senator Barbara Boxer????? Or for that matter Governor Jerry “Moonbeam” Brown (though I have to admit, in relative terms, after listening to the states assembly persons and senators, Jerry positively sounds sane......(Only in the political insane assylum that is California could this ever be true.))
Take away their agricultural water but replace it with a choo-choo
that transports the tens of thousands of Madera - Bakerspatch
commuters. Are you serious? Here is my submittal for the slogan
contest: “I may be going nowhere but I sure get there fast!”
Come to think of it many locals could have breakfast at a mission
in Bakersfield, lunch at a shelter in Fresno, and be back for the
meatloaf dinner at the mission. In the meantime they get some
great vistas of dairys and cotton fields speeding by not to mention
all the formerly productive, currently thirsty ag land.
Take away their agricultural water but replace it with a choo-choo
that transports the tens of thousands of Madera - Bakerspatch
commuters. Are you serious? Here is my submittal for the slogan
contest: “I may be going nowhere but I sure get there fast!”
Come to think of it many locals could have breakfast at a mission
in Bakersfield, lunch at a shelter in Fresno, and be back for the
meatloaf dinner at the mission. In the meantime they get some
great vistas of dairys and cotton fields speeding by not to mention
all the formerly productive, currently thirsty ag land.
In the land of nitwits, the halfwit is king.
Years ago I predicted the bankruptcy of Calicrazy and the fact that the rest of the country would end up having to pay their debts.
Anyone with two functioning brain cells (obviously not characteristic of any of Calicrazy’s political elites!) would realize that a bullet train (that may NEVER be completed) is the LAST thing Calicrazy needs to do with $8B.
But, what do I know??
More like the tax base is "beat dead" by the looter class vice "deadbeat."
Saying the they are deadbeats is like a tape worm insulting the host for inconveniently dying.
A sane Moonbeam?? My Gosh CA needs to be returned to the Aztecs!!!
LOLOLOLOL
Moonbeam is only sane when compared to the legislature....
Return to the Aztecs???? The native Yaukis would kick their rears all the way back home to Montezuma City!
Best solution??? Send all those easterners and midwest misfits back home and let their home states deal with em....lololol I for one am sick of em.
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