They never had very many good ideas to begin with and now the state government of California is just out of cash. So to speak. If you can call 66 billion in revenue as being out of cash. The problem is that they have a budget of 83 billion. Some how the headlines are how the poor are going to get hurt. Of course they are going to get hurt, they are the benefactors of a giant social network that is only designed to pump money into areas and families with low income.
The choice is to continue to spend with giant deficits and crash the whole system, or only spend the 66 billion you have, lay off a lot of people, lower the income for those you help. It is not rocket science. Lots of people will suffer, lots of people will leave California but the healing will begin. People will get off the tit of the government sow, they will file bankruptcies and shed their debt, find a skill that they can make money at and continue on.
Greece, California and the U.S. government if we don't make serious radical cuts and changes now.
Chris Mendelsohn 5/15/10
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