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Should California be left to fail? What say you?

LA Times, Tom Petruno
May 13, 2009
http://www.latimes.com/business/la-fi-lockyer14-2009may14,0,7700998.story
California Treasurer Bill Lockyer on Wednesday formally requested federal help to backstop a wave of short-term borrowing the cash-strapped state will need to undertake this summer.
…Major banks typically provide that guarantee, but Lockyer said they aren’t willing this time to do so on their own.
Lockyer has an ally in Rep. Barney Frank (D-Mass.), the chairman of the House Financial Services committee.
Although critics say U.S. help for California would discourage the state from solving its structural budget problems, Lockyer has insisted that his plan wouldn't be a federal handout. The state would pay a fee to the Treasury for the temporary backstop, he said.

Why should fiscally responsible states like Louisiana, Alaska, and Texas (who have a surplus) be expected to bail CA out for bad decisions?

Answer Question
 
Anonymous

Asked by Anonymous at 2:35 PM on May. 18, 2009 in Politics & Current Events

Answers (21)
  • The entire nation should be left to "fail". The government should not have stepped in at all. This is stupid. The whole thing is dumb.
    I'm a Californian.
    outstandingLove

    Answer by outstandingLove at 2:39 PM on May. 18, 2009

  • I agree with above poster. Sometimes things have to fall to lose it all and then go from there. Polishing a turd won't clean it, just smear the mess all over the place.
    Izsarejman

    Answer by Izsarejman at 2:44 PM on May. 18, 2009

  • I agree with the above two answers.

    I don't think we should be taking ANY advice from Barney Frank! Unfortunately, I think the people of CA need to figure this out. Maybe cut back social services programs. I know in SF they give 3 meals a day to the millions of homeless people. Maybe cut back to 2 meals. things like that would help.
    thundernlight

    Answer by thundernlight at 2:52 PM on May. 18, 2009

  • The Death of Common Sense in this nation.
    grlygrlz2

    Answer by grlygrlz2 at 2:58 PM on May. 18, 2009

  • I'm from CA . ..& yes they should. I mean. .ugh i won't even get started too much cause I'll get bashed. . .but if we would quit giving money to everyone & their mother who don't pay taxes. ..that be a huge difference. CA got themselves there they need to get themselves out.. ..& yes i say that living here lol
    ColtsFan1912

    Answer by ColtsFan1912 at 3:01 PM on May. 18, 2009

  • Being in CA, I have mixed feelings.
    (1) CA is the 7th largest economy in the world. If it "fails", what happens to everyone, in all the rest of the country and world, who depend on us?
    (2) Many states are in the same boat - as usual, CA is just leading the way. What happens when they reach this point in a couple of months? Truly. Do we bail out everyone?
    (3) CA has the dumbest government setup, putting a large chuck of the buget decisions on the voters - the uneducated, dumb as rocks voters. This is why our nation has represenative forms of government - so we can pick (hopefully) some of the better educated to make these decisions for everyone - not so we can leave them up to the idiot masses.
    (4) CA needs to cut expenses which means cutting tons of social programs - and the idiot masses I mentioned above won't. Neither will the idiots in the state senate. Until that changes, nothing will change.
    kaycee14

    Answer by kaycee14 at 3:04 PM on May. 18, 2009

  • also a Californian. and i agree. our own govt got us into this trouble, yet they took a raise for themselves *the legislative body* anyhow. why dont they go back to working on the hill for FREE and be accountable to the people they represent and NOT to the money thrown at them by lobbyists.? they are the ones who got us into this predicament and yet, they arent hurting one bit by it, they still make their hundreds of thousands in pay, and dont care that we are destroying our future.
    lovinallofthem

    Answer by lovinallofthem at 3:05 PM on May. 18, 2009

  • I am all for CA being an example for the rest of us, Let them fail.
    akinbottom2

    Answer by akinbottom2 at 3:12 PM on May. 18, 2009

  • (3) CA has the dumbest government setup, putting a large chuck of the buget decisions on the voters - the uneducated, dumb as rocks voters. This is why our nation has represenative forms of government - so we can pick (hopefully) some of the better educated to make these decisions for everyone - not so we can leave them up to the idiot masses.

    Speak for yourself, but you certainly don't speak for the masses of voters. You may call them dumb as rocks, but they have just as much right to vote on the issues as you do. When you take that away from the citizens, the elected reps can and will steal from the tax payers of that state. Just because someone is better educated doesn't mean they have the moral fibre to care about doing the job right.
    Anonymous

    Answer by Anonymous at 3:13 PM on May. 18, 2009

  • 2008 was the first year in California's history where more people moved OUT of the state than in.
    Anonymous

    Answer by Anonymous at 3:14 PM on May. 18, 2009

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