California - Broke as a Joke
Posted by Jeff Pruitt - 6/13/09 @ 12:17 am - Filed Under National Politics
Just when I thought it couldn’t get worse than the clowns that make up our state legislature, I read up on the nonsense going on in California and realize that we have it pretty good. California is near bankrupt. They are facing a $24 BILLION budget deficit this year and if they don’t pass a budget that shores up their financial position they will be dead broke in less than 50 days.
At that point the entire government will cease to operate. I imagine that the governor will shut down everything but non-essential services before that happens to make sure the most basic services (police, fire, etc) still have the money to operate. Part of the problem is that California requires a 2/3 vote of the legislature to pass a budget so minority members can typically stonewall the whole process. But I don’t think that’s the biggest problem right now.
Believe it or not, legislators whose state is already the highest taxed in the country are actually considering raising taxes to make up the shortfall. Property values have plummeted by 50% in many parts of the state and unemployment is in double digits and they are going to raise taxes? Unbelievable.
At some point they are going to have to realize that the size of their government is unsustainable. They must make severe cuts and build their cash reserves back up. You cannot mortgage yourself into prosperity - although the majority of Californians tried during the housing bubble. There really is no other option for California government as nobody is going to give them a loan without the interest rate being so high as to make it not affordable - the equivalent of continuously taking “loans” from the corner check cashing store.
Of course that is unless Uncle Sam decides to bail them out which I’m sure is what they’re hoping for. I don’t know about you but I don’t want my tax dollars going to help a bunch of delusional and irresponsible legislators. I think the best option is for the state to fully and completely legalize marijuana…
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7 Responses to “California - Broke as a Joke”
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If only Superman had not gone back in time to save Lois Lane in the first movie, the state would still be in the Pacific from the earthquake along the San Andreas fault. Actions do have consequences.
Yeah, plus that Goerge Strait song about ocean front property in Arizona would make a lot more sense.
I personally think Jeff that you missed an important conversation topic:
What happens if California goes completely bankrupt/insolvent?
If the government established by the Constitution does not, does the State still legally exist?
If the government is incapable of operation who takes over local or federal or the courts?
Is it possible that California could become a US Territory for awhile while it rebuilds itself?
A U.S. territory? That would be terrific! The influence of CA representatives in Congress would be eliminated, at least temporarily. No more Maxine Waters or Henry Waxman. That would be a tremendous BOOST to the US economy and American lives.
What Steve G. said. <— RAVE
[...] it sure didn’t take long did it? Top state officials have gone hat in hand to the administration, armed with dire warnings [...]
http://www.iscaliforniabroke.com All signs point to yes.