Meep at Piece of Work in Progress talks about the economic challenges facing the new Democratic governors in New York, Illinois and California.
Update: Rebecca brings up an important issue in the comments: "If any one of those states asks for a bailout, they will hear the public screaming clear over in Europe."
These states - with, I regret to say, either the willing support or the unthinking acquiescence of a majority of voters - have turned themselves into laboratories of liberal experimentation. They should not have the right to impose fiscal demands on the rest of the country because of their own reckless improvidence, a great example of which is found in this post at Maggie's Farm (H/T: "Anonymous").
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Running for governor of those states is rather like volunteering to be captain of the Titanic......after it hit the iceberg.
ReplyDeleteIf any one of those states asks for a bailout, they will hear the public screaming clear over in Europe.
ReplyDeleteCheck out the lean and mean California government agency system at Maggie's Farm, via Newsbeat1.com.
ReplyDeletehttp://maggiesfarm.anotherdotcom.com/archives/15764-California-state-agencies.html
This is not a really groundshaking experiment. New York, CA and IL are simply about to answer the age-old question:
ReplyDeleteWhat happens when you spend most of your life calling your neighbors bigoted, insular, uneducated, violent, ignorant, redneck hicks... and then you ask them to co-sign a second mortgage to save your house?"
Richard, that's when I start cleaning my guns on the front porch.
ReplyDeleteThe response to the question is "Vous etes Québécois?"
ReplyDeleteCheers
I have a question. Reading about Jerry Brown, and how he has been elected, now I gather he was Governor once before, so how come he gets another go? Don't they only serve the once and then ride off into the sunset, with a big pension?
ReplyDeleteAs far as I can see the results of Cal;ifornia's experiment in fiscal insanity are going to be unfortunate for all concnerned. Having made a large population dependent on goernment payrolls and handouts, everybody who became so dependent will be cut off and receive nothing further when the crash comes. The destruction of the private sector will mean they can not find work outside the government either. All those who are owed money, including public employee pensioners, will get nothing.
ReplyDeleteCalifornia cannot declare bankruptcy, because there is no provision in the US Code for states to do so (there is provision for municipalities to declare bankruptcy). States are sovereign entities. California will do what Argentina does every so often, and simply repudiate all its obligations. It may then issue extended long-term debt with much lower interest rates to selected creditors. Then it will try to start borrowing again, and if you don't think California will find lenders, you did not pay attention to various Thrid-World debt crises in the 70s and 80s.
Jerry Brown, aka Governor Moonbeam, gets another go because the people of California, in addition to ignorant stupity, suffer from Alzheimers where their memory of him is concerned. I guess he is still eligible to serve as governor, not being termed out like a President is after two terms. On the other hand, he was mayor of Oakland and the city is still there, in no worse shape for his governing it than it was before he came on the scene (that's a very low bar to set, of course). Maybe he is the best administrator the Dems can provide in California.
ReplyDeleteThank you Michael.
ReplyDelete