California Tumbles into the Sea
Everybody from Paul Krugman on up has been praising Jerry Brown's big, fat budget surplus in California this year -- but Thomas Del Beccaro shows it's all just smoke and mirrors. Surprised? Yeah, me neither. What will blow your mind however is this bit:
The new budget, which includes a call for an increase in spending of 26.2% over the next four years, ignores the Legislative Analyst’s advice.
Sacramento raided its own cap & trade fund, has no plans to pay back $10,000,000,000 it owes to Washington (that's to you and me, comrade), and has unfunded liabilities in the trillion-dollar range. And yet those spendthrift whores still plan on jacking up spending on top of their moribund economy by over 25% in just four years.
The worst part is, California -- home to 11% of the US population and already 33% of our welfare cases -- is big enough to take down the whole nation when it finally implodes.