California’s State/Local Governments Confront $1.0 Trillion in Debt; Two Classes of Workers and the Result is Debt

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• Our governor in his infinite wisdom knows the bullet train might present a problem financially after he signed a contract with Di Finstein's husband to build it. He quickly skedaddled to China last week to find funding there. Somebody is going to want that money back and Di Fi's husband needs to get paid too.

  Where you been Crowley? I knew our problem was caused by something, but corporate greed, wow, insightful.

  • Don't be so hard on Crowley. It's tough to be insightful when all you can see is your colon.

• Punch the moron's ticket.

• They wouldn't be in so much debt if Corporate Greed didn't steal their gold.

  • can you come up with something at least relatively intelligent???

    large corporations can be blamed for some things, like walmart negotiating a local tax free status for 10 years "because of all the business they bring in" and then moving somewhere else once the tax benefit expires - but you cant blame the government's broken budget on corporations. that is the government itself spending into oblivion, that is them giving preferential treatment to public sector unions (not to mention legislators always giving themselves favorable treatment) and general malinvestment and idiotic & arbitrary requirements for businesses, insurance, etc, etc.

    if a corporation bribes a politician, is it the corporation's fault, or is it the politician's fault? you wouldnt have one without the other. and when its a matter of government negotiating with a public sector union, the politician sits on the same side of the negotiating table as the union. who's fault is that?

    repeat ad nauseum until you wind up with a situation like over in italy you have a pol declare that corruption-money is merely grease for the wheels...

    and do you wonder why ALL of these places have cooked books that are in terrible shape, ready to collapse at the first sign of money-printing stoppage???????????

    • I appreciat your post and what you say is true. But trying to explain that tp the creep is an exercise in futility. Think about your blood pressure and just ignore him. And no. he can't come up with anything resembling intelligent thought.

    • can you come up with something at least relatively intelligent???

      No, he can't.

• The clowns running things in Kookafornia are just lining themselves up for a multi-trillion dollar bailout, Courtesy of the taxpayers in the more responsible states.

• So the residents of California owe about $33,000 per person in state debt. This is on top of the $57,000 per person owed in federal debt, a total of about $90,000. That's $360,000 for a family of four. Think about that the next time Paul Krugman writes about the need for more deficit spending.

  • You missed out on a particular factor in your equation.
    You have to remove the recipient class and government workers from the taxpayer roles and add the amount they would be paying to the taxpayers. That should effectively double to triple the amount the productive people owe.

  • I just don't know why people refuse to do the math.

    It's like the fuel warning light on the car has just blinked on and the driver is still saying, "Don't worry! We can still go about 3,000 miles!" It's absurd.

• Wrap that state up with a nice, pretty bow and give it to Mexico. They can have the whole damned thing: Hollywood, San Franfreakshow, Mickey Mouse - everything.

  Much good may it do them.

  (And we can finally kick the damned Raiders out of the NFL!)

• They would be in the black if they harvested all the fruits and nuts.

  • Then all that would be left are the flakes.