Failing States

[SidewalkCynic]

California is bankrupt, and New York is in legislative chaos, and certainly other states are in similar disarray - why?

What's the solution?

[Mercedes Benzene]

Originally Posted by SidewalkCynic

California is bankrupt, and New York is in legislative chaos, and certainly other states are in similar disarray - why?

What's the solution?

Are you aware of the current economic downturn that the world is facing right now?

California is just one smaller, more compartmentalized, example of these hard times. One of the biggest issues is excessive state spending. This was made worse by state laws that make it harder to raise taxes. As inflation took its course, without tax changes, Cali was led to a $24 billion dollar shortfall.

I don't know much more than this, not being a resident myself. Maybe Buffy could offer some more insight.
I do know that if California were it's own country, it would have the 10th largest economy in the world. I'm sure that through good management, this crisis will work itself out in time. It's going to be more difficult than other states, due to the scale of the issue, but I'm sure things will be done.

[SidewalkCynic]

Originally Posted by Mercedes Benzene

Are you aware of the current economic downturn that the world is facing right now?

Not really. I'm homeless in NYC, and I do not recognize any difference in the activities in the city. Although, prices have just gone up 25 cents on some of the staples (hot dogs, beer) and transit fares, people's activities appear normal - helicopters a buzz, fireworks somewhere three times a week, tourists by the bus loads, and panhandling is still profitable. Certainly, I am aware of the economic crisis of the big ticket items that are beyond my personal concern, but I am wondering what caused the problems, not just finacial; and what are the solutions.

Originally Posted by Mercedes Benzene

California is just one smaller, more compartmentalized, example of these hard times. One of the biggest issues is excessive state spending...
...I'm sure that through good management, this crisis will work itself out in time. It's going to be more difficult than other states, due to the scale of the issue, but I'm sure things will be done.

Yeah, good management - why didn't we have that before, is my question? The report yesterday had Arnold saying the legislators are going to have to explain to the citizens why they were legislating something about cow tails when the budget is the problem of immediate concern - he's right.