California, the Dream Machine Crashing

By August 3, 2009Economy, Taxation

The reliable and rigorous Robert J. Samuelson makes the case that California’s budgetary, economic and political failures are in our national stars, as well. From today’s Washington Post column, “California’s Reckoning — and Ours“:

California is stretched between a precarious economy and a strong popular desire for government. The state’s wrenching experience suggests that, as a nation, we should begin to pare back government’s future commitments to avoid a similar fate. But California’s experience also suggests we’ll remain in denial, prisoners of wishful thinking, until the fateful reckoning arrives in the unimagined future.

That’s the conclusion. He provides facts to document the argument, including a reference to California’s dismal rating as to business friendliness in the CNBC survey of states. We’d noticed the same thing.

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