California, the next budget battle. It doesn’t take a Prophet.
They say predicting an earthquake is impossible, California geologists are always warning of “The Big One”. The citizens of California may not be soothsayers, but the foresight of the pending financial disaster doesn’t require a Richter scale. The foreshock in Wisconsin, Indiana, and Ohio has forced Republican Governors to win back their parties reputation of being financial conservatives, only to be swayed by a bunch of elected officials who don’t want to “sit in the circle”. They have ignored their sworn duty to represent their constituents on the floor, for fear of losing the financial security of their Union backers (and funding for their next election).
I can only hope that CA Gov. Jerry Brown will remember his campaign promise to balance the budget. As Midwest governors have figured out, Collective Bargaining rights and greater pension/healthcare contributions must be adjusted. We cannot forsake the security of the private sector for the retirement of the public sector.
Will CA legislators flee to their favorite casino on the Las Vegas Strip?
Will the President continue his boycott of Nevada tourism? Perhaps he will encourage these officials to stay in Nevada and help boost the economy by spending CA tax dollars at the craps table.
The financial Richter scale is showing that a 10.0 earthquake is on the way to California. I just hope that California has the money to pay its first responders. A pension is no good, if you can’t pay the salary on which it is based.