Of course, we all knew this was coming. 

Gonna be interesting to see where this goes.  I've gotta think that this isn't going to happen, because there are 49 other states, and many counties, cities and towns (or townships if you're in PA) that are struggling to keep their debt under control.  Other than those in CA or solidly Marxist districts, the congresscritters know that the next election cycle is going to be ugly for those that support something like this.  They know the bailouts are unpopular, and porkulus is less so. 

The other problem with bailing out California is obvious, the second we do it, every other state and local government has absolutely zero incentive to spend responsibly, and those people who do the right thing anyway are going to grow extremely resentful of those that don't control spending. 

Posted by: doubleplusundead at 11:22 AM | Comments (15) | Add Comment
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