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Doom. And A Side Helping of Gloom.

Californians Voting with Their Feet by Lawrence J. McQuillan, City Journal 23 October 2008

Several key economic indicators point to grim news for the Golden State in the aftermath of the Wall Street meltdown. The state’s unemployment rate has jumped to 7.7 percent, its highest rate in 12 years and the third-worst in the United States. In Riverside County, 40 percent of homes sold in the past year are in foreclosure. Unfortunately, California’s government doesn’t seem interested in solving the state’s economic problems.

California continues to be burdened with high taxes, punitive regulations, huge wealth-transfer programs, out-of-control spending, and lawsuit abuse. And there’s no end in sight to the state’s fiscal madness. The “balanced budget” signed only a few weeks ago by Governor Arnold Schwarzenegger already runs a deficit of as much as $5.5 billion. Last week, to cover state expenditures for the rest of the fiscal year, the state sold $5 billion in short-term notes. Schwarzenegger bought $100,000 worth himself.

That’s a laugh. Schwarzenegger’s personal fortune has been estimated as high as a third of a billion dollars. A hundred grand worth of bonds is, for him, the equivalent of a con artist spending a nickel in order to convince the suckers to buy a hundred bucks worth.

California is the most socialist state in the nation, when viewed as a whole. It is the most badly governed. It has essentially been bankrupt for more than a decade, and the fools who live here keep right on sending back the same socialist lawmakers who bend them over and give it to them again and again, good and hard.

I’ve lived here for nearly a quarter of a century, and I am becoming more and more convinced that my personal experiment in picking a place to live is not going to end well.

Pity. I love San Francisco the city, even if I can’t stand her government or many of her citizens. But I think that much that is good is going to come to an end, and not just here. Somewhere down the road beams the bright and shining light of the Singularity. I just hope I manage to stay around to see it.

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-Bill Quick







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