Budget crisis: Is California too big to fail?

Discussion in 'Wall St. News' started by S2007S, Jun 30, 2009.

  1. states like Nebraska, who do NOT promise fat pensions to state workers, are in very good shape. At some point, the unions, the schools, and all those who milk from states like CA, NJ or NY, will lose their

    The congresses, governors and the state judicial system ensure rising spending for social programs, per-student spending and many other "stats obligations."

    But for California, maybe they need to fail. Then fiscal discipline will be required and the liberal bloat may finally be gotten rid of, maybe.

    Many places spend all their money when times are good instead of saving the money for the down times. And in down times, they raise fees and taxes, driving out businesses and the wealthy. Hmmm...
     
    #21     Jul 3, 2009