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Does it matter to you if Sacramento is spending $85 billion, and the State forces the counties to spend $15billion? It is still government taking money from families and businesses and harming the economy of California.
"Once again, newspapers tend to continue to misinform that it is the state that will go bankrupt when it is more likely to be counties, cities and special assessment districts that will be most vulnerable to insolvency. That is because Gov. Brown’s budget is diverting most of the budget decisions back to lower levels of government. Brown’s strategy is not to “spread the pain” as was done in the past as much as it is now to “localize the pain.”
Moreover, no change in existing bankruptcy law is apparently needed to rescue that state if unfunded budget liabilities are going to be dumped back on local government, as existing law is already in place for municipal bankruptcy."
Passing the buck from Sacramento to Simi Valley does not change the fact that government in California is bankrupt. it does not the fact that California is in a Great Depression. It does not change the fact that Chowchilla just defaulted on a bond--and the dominoes are beginning to fall.
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"Once again, newspapers tend to continue to misinform that it is the state that will go bankrupt when it is more likely to be counties, cities and special assessment districts that will be most vulnerable to insolvency. That is because Gov. Brown’s budget is diverting most of the budget decisions back to lower levels of government. Brown’s strategy is not to “spread the pain” as was done in the past as much as it is now to “localize the pain.”
Moreover, no change in existing bankruptcy law is apparently needed to rescue that state if unfunded budget liabilities are going to be dumped back on local government, as existing law is already in place for municipal bankruptcy."
Passing the buck from Sacramento to Simi Valley does not change the fact that government in California is bankrupt. it does not the fact that California is in a Great Depression. It does not change the fact that Chowchilla just defaulted on a bond--and the dominoes are beginning to fall.
More...