I don’t think there anything any politician to do that could save CA from fiscal ruin…There’s too many sacred cows from too many self interest groups, and not a collective, we all need to pay more (or cut more). Folks don’t want to pay higher taxes because they don’t want higher taxes to go into public pension increases. People with public pensions don’t want to see their benefits cut, and public employees, teachers, fire/police don’t want to see their pay cut…There’s plenty of advocacy groups who think that we illegal immigrants should enjoy benefits for which they don’t need to pay for…And there’s plenty of businesses that don’t want the state to raise anymore taxes either.
Just let it ride….Issue more bonds until they become junk…And finally when they are junk, just force someone else to write them off….Heck, eventually the rest of the world will have to write off our national debt anyway, might as well houseclean and tack on all the state debt into the federal level…..
