Hilarious Take on Cali & NY Bankruptcy

[roo_ster]

I about spewed my coffee all over as I read the last line.


http://corner.nationalreview.com/post/?q=ZmY0Mjg0YTMxYTc3NjJjMzBmZGI3YWE3NTgzMjdmMTU=

Following California's "tax revolt" and the usual editorials from a dying media sneering at the electorate as tantrum-throwing kindergartners, we now move on to the swimsuit round, in which the Golden State's woes are federalized and redistributed to the nation at large. In the states' version of the Obama model for everything from mortgages to credit cards, the feckless will have their pathologies rewarded and the prudent will get stuck with the tab. The Atlantic's Megan McArdle cuts to the chase:

    California is completely, totally, irreparably hosed.

Up next: New York.

As Miss McArdle notes, whether you bail out states "too big to fail" or let them go bankrupt, it will cause pain to taxpayers. But the pain of the latter is relatively short-term. Passing Sacramento's buck to Washington will accelerate the centralizing pull in American politics and eventually eliminate any advantage to voting with your feet.

Not to be too gloomy, but the country feels like it's seizing up. It's as if California and New York have burst their bodices like two corpulent gin-soaked trollops and rolled over the fruited plain to rub bellies at the Mississippi. If you're underneath, it's not going to be fun.

[coppertales]

Cut them loose and let them float out to sea.  The rest of the country will be better off.....chris3

[AZRedhawk44]

Where's Lex Luthor when you need him?

We need an earthquake machine.

(yes, I'm kidding.  Kinda.   )

[Ben]

Well, as a CA resident, it will be really interesting to see where this goes. I was actually really surprised that even the Lib majority here didn't buy the "there will be no police services, no schools, etc." line for what would happen if the props failed to pass (as they all did, except for the one that freezes politician salary increases). We have SO many unnecessary state programs that could be cut or eliminated that it's ridiculous.

What was funny was looking at the state govt web map of where the props were passing or failing. The only place all the props got a "yes" majority was San Francisco County. Everywhere else the "no" vote was an average 2/3 majority. I'm expecting much higher state tax, an attempt to once again repeal prop 13 and increase property tax, and "penalty" taxes for businesses that sell commercial property in CA in order to move operations to other states.

[BReilley]

Did anybody happen to archive the original SacBee editorial?  I'd love to read it, given the comments posted.

Edit: Someone has indeed archived the original.  Not anything new, but if you're looking for one more example of how slanted editorial boards are these days, this is it... http://www.freerepublic.com/focus/f-news/2254828/posts#