California is to the U.S. as Greece is to the EU. Politicians regularly employ
plans and projections based on overly optimistic economic conditions to sell
their ideas. The more liberal the legislature, the more rosy the projections
are. California is unquestionably one of the most liberal states overall in the
nation, so they're predictably in the deepest trouble when the economy goes
sour. Either the U.S. bails them out with funny-money or cuts them loose as an
independent country of their own. Would that be secession in reverse?
I agree with Earl except for your first statement. California is to the US as
Germany is to the EU. The GDP of Greece is probably on par with the GDP of
Detroit. I think California is the world's third largest economy so if it goes
off the fiscal cliff then it's dragging the rest of us with it unfortunately. I
certainly don't favor any Federal bailout of the formerly Golden State.
My comparison of Greece to California had nothing to do with the size of the
economies, but with the effect. Greece is dragging the EU down like California
is pulling down the US.
I can't believe a state with so much natural beauty, so much to offer in ways of
tourism and things to do can be this bad off. What happened to the CA of Ronald