Tuesday, June 30, 2009
California, Here We Come! - Pat Buchanan
This seems quite accurate.
The example of California SHOULD make us think...
The example of California SHOULD make us think...
At HumanEvents.com, Patrick J. Buchanan lays it out for us:
"Moreover, the demography of California today is the demography of America tomorrow, just as the social and fiscal policies of California in the last decade mirror those of the U.S. government today.
One-third of all U.S. wage-earners today have been amnestied from paying U.S. income taxes, as the top 1 percent haul fully 40 percent of that huge load. So, too, in California, the well-to-do and the wealthy are hammered, which is why many have quietly closed their businesses, packed and gone back over the mountains whence their fathers came.
Under George W. Bush and Obama, the U.S. government has undertaken huge new responsibilities: No Child Left Behind, Medicare prescription drug benefits, wars in Iraq and Afghanistan, the takeovers of banks and auto companies, bailouts without end and national health insurance.
California, too, spent lavishly in the fat years and issued bonds when state revenues did not cover the costs, bringing its once-sterling credit rating down to the nation's lowest. So, too, U.S. Treasury bonds, T-bills and the American dollar are now increasingly suspect.
Demographically, California is where America will be in 2040."