California: A Much Better Business Atmosphere?

During his interview with “the irrelevant Rush Limbaugh“, Gov. Schwarzenegger said, “I would say a huge amount of businesses are coming back here because we are creating a much better business atmosphere”.

For all sorts of reasons, I find that rather hard to believe. And certainly, individuals continue to vote with their feet, according to this December report from the Pacific Research Institute:

Last week, the California Department of Finance released figures showing that the number of California residents moving out of the state exceeded the number of individuals moving in. While the overall population increased due to foreign immigration, domestic migrants on net left the Golden State. This is hardly a surprise given that California continues to foster an economic climate that