What Happens When California Defaults?

[Bleeding heart conservative, HTMLdon]

California is the perfect example of extremism gone wild.

Left-wing whackos that want an unsustainable giant government and Right-wing whackos that refuse to allow government to raise the revenue it would need even to pay for basic expenses.

[Хahar 🤔]

No, Don, you've got it all wrong. A majority of the state wants both. I suspect a majority of the state wants both simultaneously.

[Associate Justice PiT]

No, Don, you've got it all wrong. A majority of the state wants both. I suspect a majority of the state wants both simultaneously.

     Quite correct you are. The average voter is a big fan of unsustainable governance.

[Holmes]

Heh, I remember watching a video of DiFi at the beginning of the year bitching at Californians by telling a story of how when she was mayor of San Francisco and her residents wanted both better services and less taxes. Describes a lot of Californians well.

[JohnnyLongtorso]

I think that's true of most places. There's been some furor over the possibility of the City of Virginia Beach charging a fee for trash collection (they don't currently). You mean the garbage trucks don't run on fairy dust and love?

[muon2]

I think that's true of most places. There's been some furor over the possibility of the City of Virginia Beach charging a fee for trash collection (they don't currently). You mean the garbage trucks don't run on fairy dust and love?

It is true of most places, and the larger the unit of government the more difficult the task of understanding all the pieces that make up that government. Government works when the public invests a certain responsibility in the elected body by giving them the tools to balance revenue and expenses. The public must then take the responsibility to enforce that responsibility through elections. CA seems to have removed responsibility from the legislature then decided not to take responsibility themselves.

[Zarn]

It's cool.

They have a restart button.

[Bleeding heart conservative, HTMLdon]

Heh, I remember watching a video of DiFi at the beginning of the year bitching at Californians by telling a story of how when she was mayor of San Francisco and her residents wanted both better services and less taxes. Describes a lot of Californians well.

I think this is the biggest problem we have in America right now.  We have one side that demands lower taxes, and another side that demands more government, and both sides are currently prevailing at the expense of future generations.

[Bleeding heart conservative, HTMLdon]

It's cool.

They have a restart button.

Hopefully they can restart without Prop 13 which helped get them into this position in the first place.

[CARLHAYDEN]

It's cool.

They have a restart button.

Hopefully they can restart without Prop 13 which helped get them into this position in the first place.

Don,

Why do you want higher and higher and higher and higher taxes?

Have you given some thought to decreasing spending?

[nhmagic]

If California defaults, it will be an economic catastrophe like no other, probably erasing the positive (yet jobless) gains weve had.  It's not just Cali by the way, its Arizona and New York too.

[Southern Senator North Carolina Yankee]

Lets sell it to the Chinese like GM did the hummer.