Is California Going Bankrupt?

The onetime jewel in this country's crown ofthe state lottery? Native American casinos?
achievement and testament to the "good life" hasIncreased gas taxes? Higher sin taxes ( cigarettes
tarnished to the point were it is unlikely to beand alcohol)? The recent hikes in sales taxes at
restored to its former greatness. With unbridledthe state and local levels? Are Californians
spending by a virtual one-party State Assemblydestined to depend on the legalization of
and Senate, unsustainable concessions to publicmarijuana and the taxes gained from it to tide
sector unions, unfriendly restrictions and taxes onthe state over until the next financial crunch?
business along with personal income taxes andToo many special interest groups resulting in too
sales taxes that are among the highest in themany petitions that end up as ballot propositions
nation, it's no wonder the California dream hashave taken much of the budget responsibility
turned into a nightmare.away from the elected representatives. This
California is ranked 7th worldwide in terms of GDPexperiment in direct democracy may be popular
(Gross Domestic Product), placing the state abovewith residents, but it hampers budget control -
nations such as Spain and Canada. There was aassuming the free-spenders in Sacramento would
50 percent increase in the number of newactually be concerned about finances as opposed
residents from 1980 to 2000, today there are 37to pushing their own agendas.
million people living in California, which representsThe cycle of higher taxes imposed in order to
8.5 percent of the US population.pay for immigration services, education, health
But the population mix is changing. Since thecare, an aging infrastructure and increasing
millennium, businesses have moved or closed atgovernment costs are hangovers from the glory
an alarming rate, causing the state to losedays of the Golden State. This is not 1960 or
corporate taxes and the revenues skilled workers1985. It is 2010 and the countdown to
represent. Even the work for unskilled labor hasself-destruction is a reality.
been diminished with draconian environmental lawsChange is not an option; it is an imperative. The
for manufacturers and farmers losing vitalvoters of California must send a loud and clear
irrigation sources in order to protect anmessage to politicians to stop the madness. If
endangered minnow at the expense of growingthey don't listen, perhaps the state can declare
crops to feed the nation and the world.bankruptcy (not actually do it, just take it to the
At the same time, pension funds for public sectorbrink before the federal government steps in),
employees has increased 2,000 percent in the lastget out from under the commitments that
decade while revenues are up only 24 percent.shackle reform and start anew. If California gets
The state deficit for this year will be in excess ofa fresh start other states might follow. Think it
$20 billion. What happened to the money fromcould work?