In a previous post I had claimed that California was the most mismanaged state in the Union and I justified it by the fact that $43.6 BILLION in AGI (since 1992) has vacated the state and migrated to other states. Well, guess what, folks. According to Travis Brown's book, "How Money Walks", New York has lost $71.4 billion during that same time frame (65% more than California's statist boobs have lost) and how embarrassing is that?
California is doing just fine. In fact, there is a budget surplus, unlike Kansas which is financially dying under republican tax cuts for the wealthy and corporations.
ReplyDelete"California is doing just fine."
ReplyDeletePicking myself up of the floor!
Yeah, Jerry outdid himself on that one. The state loses 43 billion dollars in taxable income and everything is hunky dory and then he trots out the bogus surplus argument (anybody's balance sheet can look awesome if you leave out huge obligations).
ReplyDeleteThat's future obligations which a budget surplus and time will probably take care of...unless republicans get a hold of the state.
ReplyDeleteThe CA pension system is a ticking time bomb and there isn't a sane individual on the planet who thinks that the situation is rosy and that it doesn't need major reform.......And I can make my balance sheet look good, too, Jerry. All that I really have to do is leave out my condo fees and property taxes.
ReplyDeleteYep, a big boom just waiting to happen.
ReplyDeleteAnd these big programs ALWAYS go over budget. For Jerry to think that this scenario is going to take care of itself is naive.
ReplyDelete