California Sits On Their Salvation, Instead Chooses To Sit On Their Hands

According to Forbes:

The world knows of California’s unemployment, spending, and budget problems.  With over $1 trillion in public debt, the Golden State’s fiscal situation is surely challenging.  Amazingly, a giant gift was laid at California’s doorstep in the form of abundant oil fields accessible by fracking.  Rather than promote the budget-soothing jobs and the tax revenue that comes with it, California Democrats have lined up to stop it.

California is the land of misplaced priorities, highest-in-the-nation taxes and even higher regulations.  Recently, the California Public Policy Center, relying primarily on official reports prepared by the State Controller and State Treasurer, determined that “the outstanding debt owed by California’s state and local governments, using responsible actuarial assumptions, is almost certainly in excess of $1.0 trillion.”

That $1 trillion in debt compares to a state economy of approximately $2 trillion and a state budget of about $100 billion.  Much of that debt is unfunded pension and medical liabilities for government employees – a problem that is getting worse, not better.

To make matters even worse, California’s reported unemployment remains among the highest in the nation. It is important to remember that the unemployed pay fewer taxes and use more government benefits.  The best way to reverse that dynamic is with a growing economy.

So what is California to do?  Apparently kick a gift horse in the mouth.

Here’s a couple of quick videos that the Cali Democrats should watch:

Safe, clean, effective, cheap and plentiful. Unlock it.

11 thoughts on “California Sits On Their Salvation, Instead Chooses To Sit On Their Hands

  1. Any recovery that California may experience is not going to happen fortuitously at the hands their incompetent liberal leadership. What is needed is a complete overhaul of their political structure before any economic gains will ever be seen.

    Too bad they do not possess the morality to achieve such a political overhaul. Denial is such a powerful tool.

  2. Even if you handed California $2 TRILLION, they would spend $3. The only “cure” to their ills is a change of the Peoples’ hearts which removes the cancer they are suffering under and lets it die with the passing of the 60’s generation. Nothing short of that will help.

    • Spot on. The body isn’t even cold yet and the vultures are already arguing over how to cut up the corpse:

      Earlier this week, California Gov. Jerry Brown unveiled his revised budget plan for the fiscal year that begins in July. It reaffirmed something that many in government have been predicting for some months: the state may be headed for a multi-billion dollar budget surplus resulting from the rebounding economy and a tax hike approved by voters last November.

      The notoriously cash-strapped state spending less than it takes in hasn’t occurred in more than a decade. Unsurprisingly, a lot of people have a lot of different ideas about how that money should be used — from restoring government programs slashed from years of budget cuts to paying down the massive collection of debt obligations that the Los Angeles Times called a $28 billion cloud hanging over the state’s future.

      Though much of the surplus could be automatically diverted into the state’s public education system, that hasn’t stopped some in Sacramento from drawing up their own wish lists for what to do with the additional revenue.

      Assembly Speaker John Perez (D-Los Angeles) said last week that his spending priorities include putting more money toward child care for poor families and providing increased financial assistance to college-bound Californians. “It’s about responsibility,” Perez told the Associated Press. “It’s not about walking away from our obligations.”

      Other suggestions proffered by Democrats have included increased spending for the state’s low-income Medicaid welfare program MediCal, reversing some of the deep cuts that have devastated the state’s court system and increasing funding to job training programs. Some of these ideas were incorporated into the spending portion of the budget Brown made public on Tuesday.

  3. Nothing can save the capitalist economy, it can only be ended. The money supply is dwindling even with quantitative easing.

    • What you understand about Monetary policy could be written on a Postage stamp with room left over.

      And is worth far Less than the face value of the Stamo BTW.

    • The problem with your logic, Karl, is that California is more totalitarian in practice than you would imagine … much like Michigan, and Detroit specifically. You join a worker’s union, or you do not work. Money is stripped from you, and spent on populist politicians who hand out entitlements without checking any sort of budget.

      But as long as there remains a blank check in the book …

      Liberalism is incongruent with reality, particularly your brand of liberalism.

      • It always amazes me that the crash of these states was caused by budget busting collectivist programs and crony deals with unions and yet people like Karl find a way to blame it on capitalism.

        • “It always amazes me that the crash of these states was caused by budget busting collectivist programs and crony deals with unions and yet people like Karl find a way to blame it on capitalism.”

          The cause is in how they were raised. Mom weans people like Karl a bit too soon, and then breast feeds another’s child for payment … and Karl is forever scarred, and blames capitalism.

  4. California has systematically and purposefully morphed into a One-Party-State……and predictably is now broke.

    Article from Washington Free Beacon….

    Rush’s June 5th Monologue and Transcript shows how *Amnesty Made California a One-Party-State*

    And even the Liberal-Leaning British Mag *The Economist* shows that Nearly 1 Billion people have been taken out of extreme Poverty because of Free-Market Capitalism..

  5. Cool videos. California is living on borrowed time. When they come begging for a federal bailout, I believe the shit’s gonna hit the fan.That place is a modern-day Sodom and Gomorrah.

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