California is broke:
"California will begin to print and send out tens of thousands of IOUs this afternoon to pay its bills, the latest black eye for the state and its broken budget system.....The governor also reported a new deficit figure for the state: $26.3 billion, up $2 billion." (MercuryNews)
What in the world has happened to the 8th or 10th largest economy in the world?
Carol Platt Liebau is an attorney, political commentator and guest radio talk show host based near Los Angeles. This is what she posted a few days ago:
"California's sales and gas taxes are the highest in the country - and it has the highest vehicle license fees and the second-highest top-bracket income tax, too.
Its corporate tax rates are the highest of all Western states, and for the fourth year in a row, a survey of 543 CEO's found that California's toxic combination of high taxes and intrusive regulations made it the worst place in the nation to do business.
In fact, at the real root of California's fiscal misery is the profligacy of arrogant, big-spending, left-wing legislators, who have treated taxpayers as if they exist only to support the government."
In other words, there are too many California lefties steamed up about same sex marriage rather than creating jobs!
Here is a list of quick suggestions:
1) Send a delegation to Texas. Why did Texas create so many jobs?
Why do we see so many California license plates around here? I can't believe that so many people drove down to watch the Angels or Dodgers play the Rangers!
2) Drill for oil offshore. There is a lot of oil (i.e. money) sitting there.
In the meantime, we will continue to see people leave California.
P.S. There is hope out there.
Perhaps, they can vote for someone like Meg Whitman and actually reform their economy: Can California Be Sold On Ebay's Former Leader?
