Obama Budget Plan Aims to Lower Deficit - WSJ.com
Matthew Kaminski Says Governor Arnold Schwarzenegger's California Is Verging on Fiscal Insolvency - WSJ.com
Stated in the above article, I could not say it better, except...at some point the well of the successful will drain.
California is in a French-like bind: unable to afford a welfare-type state, and unable to overhaul it. "The people say they want all these programs, then there's nothing they want to pay for," says Hector De La Torre, a Democratic assemblyman. "The schizophrenia in the legislature reflects the peoples'."
And the following, which continues to ignore economic reality.
National Journal Magazine - How The Stimulus Falls Short
1 comment:
You must hate shrinking deficits! The will of the successful will be just fine. No sniveling.
The State of California has been harmed by it's initiative system. The approval of a simple budget requires a super majority, as do any tax hikes. It is untenable.
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