Saturday, November 6, 2010

"Walking Corpse" California Chooses Deeper Grave

Today, when comparisons are made, California is most often compared to Greece — another idyllic place with a sunny, Mediterranean climate on the verge of bankruptcy.

In the end, only the voters of California can change things. But on Tuesday, they opted for more of the same governance that will only make conditions worse. _Source
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California is a large and populous state. It was once a desirable location for both families and businesses. But decades of being feasted on by professional political parasites has taken a toll on the once-golden state. Recently, California voters put the exclamation mark on their state's nosedive.
• With just 12% of the U.S. population, California has almost a third of the nation's welfare recipients. Some joke the state motto should be changed from "The Golden State" to "The Welfare State." Meanwhile, 15.3% of all Californians live in poverty.

• In a ranking by corporate relocation expert Ronald Pollina of the 50 states based on 31 factors for job creation, California finished dead last.

• In another ranking, this one by the Beacon Hill Institute on state competitiveness, California came in 32nd — down seven spots in just one year.

• California is home to 25% of America's 12 million to 20 million illegal immigrants. A 2004 study estimated that illegals cost the state's citizens $10.5 billion a year — roughly $1,200 per family.

• Unfunded pension liabilities for California's state and public employees may be as much as $500 billion — roughly 17% of the nation's total $3 trillion at the state and local level.

But the real political problem lies in Sacramento, the state capital, which is run not so much by politicians as by the unions they've sold out to — state employees, nurses, teachers and prison guards.

...Moreover, as its tax base shrivels, the state is lurching ever closer to fiscal insolvency. At some point, it will ask Congress for a bailout, and how likely is that with the new Republican majority?

Worse is the feeling among the state's businesses of an entrenched, almost pathological antipathy toward any job-creating activity...

...So far this year, thanks to California's unfriendly political environment, strict regulations and high taxes, 32 companies have announced they'll either expand elsewhere, move or shut down operations, according to the California Manufacturers & Technology Association. _IBD
California voters are like puppets on strings controlled by public sector unions, the faux environmental lobby, the trial lawyer industry, and the academic lobotomists of America. If you want to live where government is most dysfunctional in the entire US, California is your place.

What do you bet on the likelihood that the three dysfunctional state stooges: California, Illinois, and New York state, will soon be standing in line for massive state government bailouts from the federal government? Obama is no doubt willing, but the complexion of the US Congress has changed a bit.

Do you think Obama could re-distribute a few $trillion to his corrupt friends at the state level without anyone in Congress noticing?

Update 8Nov10:
You've racked up nearly $70 billion in general obligation debt, and that doesn't include your $500 billion unfunded pension liability. Your own analysts predict you'll face a hole of at least $80 billion over the next four years.

Your government's run by a brothel of environmentalists, lawyers, public-sector unions and legislative bums. When they're not taxing or spending, they're creating regulations and commissions like the Board of Barbering and Cosmetology and the California Blueberry Commission. Many businesses would leave if it weren't for your sunny climate.

...Jerry Brown will be your new (old) governor. This is the man who acted as a gateway drug to your spending addiction three decades ago when he gave public-sector employees collective bargaining rights. Helping enforce your wacky laws will be Lt. Gov-elect Gavin Newsom, the San Francisco mayor who flouted state law by allowing same-sex marriage.

...You've also just re-elected Barbara Boxer (that's Senator Barbara Boxer) to a fourth term. She boasted on election night that it's her "eleventh straight election victory, and what a sweet one it is . . . [since] everything was thrown at us, including the kitchen sink, and the stove and the oven and everything, millions of dollars of negative ads from known and unknown opponents, millions and millions of dollars."

We've tried to help you, California. Some spent millions on campaigns to entice you to change your reckless behavior. And you told them to kick rocks.

So here's our final warning: When you inevitably crash and burn, don't count on us to bail you out. _WSJ

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