California may claim to balance its budget, but common sense tells me that things have deteriorated further from the reported $40 billion deficit and that all these new taxes will encourage the wealthy to move out while the poor continue to have children.
I don't think California has seen the last of its budget troubles this year, and the federal government is going to soon realize that bailouts of failure is a huge moral hazard which in turn makes the problem worse.
I don't think California has seen the last of its budget troubles this year, and the federal government is going to soon realize that bailouts of failure is a huge moral hazard which in turn makes the problem worse.