AIG was too big to fail. So were the big 3 in Detroit. But the 8th largest economy in the world is on its own.
California now has the dubious distinction as the most f*****d up state in the country. The social welfare experiment that led to long term dependency, along with the fleecing of state taxpayers has fallen apart. Unemployment has reached historic levels, and the state’s budget deficit is once again out of sight, just like the last deficit just a few short months ago.
The wrangling in Sacramento has started again. How to cover the deficit? Republicans say cuts, and the Dems say more taxes. Just like the last session. What is conspicuosly missing from the debate is how to put over 2 million Californians back to work. That’s right 2 million. And that doesn’t include the ones who have exhausted their unemployment benefits, or have taken part-time work-anything they can get. Any talk of revisiting the initiatives that tie up a huge chunk of California’s budget? No. Any talk of weeding out illegal aliens on the public dole? No. Any talk of unions having to revisit lifetime pensions at the expense of the state? Are you kidding?
Maybe Barack Obama realizes that yes, $24 billion will close the current state deficit, but the fundamental problems remain. We’ll just have this same conversation several months from now. What is needed is renegotiation of state expenditures,the source of the deficit. With so many special interest hands in the pie, that won’t be easy. Sounds like it’s time to clean house in Sacramento. Will the apathetic California voter (the ones that haven’t left the state) finally awaken? They did during the last special election, shooting down every tax laid on the table. Sacramento just came up with new ones. Reasonable people could sit down and solve this problem. We aren’t dealing with reasonable people though, we’re dealing with California politicians.
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