Friday, December 19, 2008
California Bankrupt, Democrats prescribe higher taxes
California's budget deficit will hit nearly $42 billion over the next 18 months. The Guardian reports that the immense shortfall may force it to pay bills with IOUs.
California is probably the most liberal, eh, I mean "progressive", states in the country. Years of Democratic rule have resulted in onerous environmental regulations, brutally high taxes, open border policies, massive pollution and an exodus of those who desire economic mobility rather than handouts.
The results are easy to predict. California lost 41,700 jobs in November and its unemployment rate hit a 15-year high. Its egregious unemployment record trails only that of Michigan and Rhode Island.
The Democratic leadership's prescription? More taxes. Democrats plan on hiking gas, sales and income taxes through a series of obscure legal maneuvers that intend to bypass Republican oversight.
#1 for unemployment? Democrat-controlled Michigan and the Pee Wee Herman of Governors, Democrat Jennifer Granholm.
#2 for unemployment? Democrat-controlled Rhode Island.
#3, #4, and #5 for unemployment? All Democrat-controlled states: California, Mississippi, and Obama's home state of Illinois.
The five states with the highest overall employment are all controlled by Republicans. No kidding.
Are ya smellin' the trend?
Update: Democrat-controlled Congress just voted itself a well-deserved pay raise, this time to $217,400 a year.
They work hard for their money, so you better treat 'em right.