Well, we all know what is going on in Greece! So comforting for Obama and his cohorts at the NY Times. They think we’re not nearly as bad!
Really? (Thank God some of us read the Wall Street Journal)
The comparison between Greece and California (and Obama’s U.S.A. for that matter) is startling! Stockton, California may soon become California’s largest city to go bankrupt.
Over the years, California’s high taxes, grandiose entitlement programs, and immense regulations have created a “European-style” welfare state.
From 1980-2005, the population of California grew by ten million. Yet, in that 25 year period, its Medicaid (welfare ) recipients rose by SEVEN million and (get this one) its tax filers paying income taxes ONLY ROSE BY 150,000! Do you believe that one?
This year, the unfunded liabilities for the State pension and healthcare system is an unbelievable $250 BILLION DOLLARS!
In 9 of the last 10 years, its general fund spent MORE money than it’s tax revenues.
It ran a $5 billion dollar tax deficit last year!
Gov. Brown’s budget for next year proposes a spending increase of seven billion!
I’ll let you guess what his “solution” is.
You got it! – a “temporary” $31 billion dollar MULTIYEAR tax increase which is LARGER than the “temporary” tax increase it replaces!
I know you are “amazed” by this liberal response!
Nothing stops them from taxing and spending more even though thousands of Californian’s, along with their businesses, are leaving the state for “greener pastures” like Texas.
Wake up America!
We are broke!!!
The European-style welfare state does not work anywhere!
235 days until November!