California could soon mark another first -- state bankruptcy. In anticipation, Standard & Poor's this month downgraded its bond rating a notch below Louisiana's. In the last three decades, California expanded the public sector and regulation to Europe-like dimensions. Schools, state employees, health care, even dog kennels, benefited from largesse in flush times. Government workers got 16 official holidays, everyone else six. The state dabbled with universal health care and adopted strict environmental standards. In short, California went where our new president and Nancy Pelosi of San Francisco want America to go.
Pink champagne on ice. We are all French now!
Friday, February 20, 2009
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4 comments:
Where do Pelosi and Obamarama want us to go?
Here she stood in the doorway;
I heard the mission bell
And I was thinking to myself,
This could be heaven or this could be hell
Then she lit up a candle and she showed me the way
...you can never leave
More on this theme: If the future happens in California, we all should tremble at its ever-expanding debt, falling credit ratings, crushing pension obligations, suffocating regulation, and rising taxes — with environmentally preening, ill-considered restrictions on carbon emissions thrown on top. California Democrats are only slightly ahead of national Democrats, so the country’s fiscal future may be in preview in Sacramento. You don't say.
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