California needs to be fixed. They are the 8th largest World Economy. America cannot afford to let California die. We obviously can’t afford to let them go down the road they are on. Something drastic has to be done....what is that? I wish I knew. But the bottom line is, We cannot allow them to fail!!!!
I respectfully disagree. What are the real downsides to a bankrupt California? As a state, it would suck to live there. They ran a failed model and now they want a bailout. The purpose of Federalism is to allow the states to pursue different options: good, bad, or indifferent. But it would be better for the country if they do fail rather than draining the coffers of everyone else. Most of the productive people/businesses would move and so it would not greatly impact federal revenues.
Let them be the ultimate bad example... no one is too big to fail and you better get your house in order because the rest of us aren't going to pay for your stupid policies! Unless we let states fail they know that bailouts are always right around the corner.
The rest of us are not responsible for California. Only California can fix California. If they have a death wish, there’s not much the rest of us can do about it, unfortunately.
It's obvious that the state is not going to change its ways until it is, at last, forced to pay the piper. And go bust.
Then, and only then, will the adults be allowed to take charge.
GM would be better off today if it had been allowed to go through a normal bankruptcy. If that is what it takes for California, it will be better off for the experience.
In one novel from William Gibson, California is broken up into SoCal and NorCal.
I disagree. California needs to take some bitter medicine. There needs to be drastic cuts to rein in the spending. If the rest of the states rightly let California fail, it can be the necessary wake up call that some of the other states and the nation needs.
Only then will we learn as a society, the difference between wants and needs. We will then have the opportunity to finally get our priorities set straight.