Wed, Jan 16 2013
Demographics: Just as baby boomers are reaching retirement or fleeing the state, a dearth of children threatens to turn the Golden State into the golden years state with potentially dire economic consequences. California was once a leader where the "next big thing" would happen and then migrate to the rest of the country. With an economy among the world's largest if it were a separate country, it in a sense still is, having already gone over its own fiscal cliff, beset by low growth, high taxes and regulations, an exodus of business and population, and a staggering debt of unfunded liabilities…..California offers a glimpse into the future of what happens when governments operating on progressive socialist ideas start running out of other people's money. To make matters worse, California is about to run out of those "other people."...To Read More...
My Take – Since the state legislature in California is made up of leftists who are there because of the support they get from the unproductive and public employees for extorting money to give to them from the productive. That is such an obvious system for disaster that even the dummies on the left must know it; and yet they continue down that path. Their only option? Go broke and then demand the rest of the country bail them out while allowing them to continue down the same destructive path. The left must be insane.
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