First, let me be clear about this: Contrary to the growing consensus, I am still not convinced that President Obama is destined to be a one-term President.
Despite the colossal rejection of the President’s policies and his “vision” in the midterm election earlier this month (the President himself stated repeatedly before the election that “my name’s not on the ballot, but my agenda is”), I’m still not assuming that he won’t turn things around for himself.
In fact, as it stands now, I think President Obama is more likely to be re-elected than not.
But there’s a present-day crisis on the “left coast,” and most Americans have no idea how bad it is. When more Americans get a grasp of the carnage – and once Barack Obama begins to act-out his natural tendencies towards “government bailouts” - the American electorate may very well become so outraged that the President destroys his own future political prospects.
California – the most populous state in our nation – is bankrupt. Just as is the case in Washington, D.C., nobody in The Golden State dares to say the word “bankrupt” to describe the state government right now, but it is still nonetheless true.
However, since Californians collectively defied the national trend of abandoning the bankrupting Obama-styled economic policies in the recent election, and instead voted for more of the same, the 31st state in our union is now on the fast-track for economic collapse. And it is a crisis that is custom-made for politicians like Barack Obama, who love to spend other people’s money in an effort to make themselves appear heroic.
Outgoing Governor Arnold Schwarzenegger has called a special legislative session for December 6, to deal with the projected $6 billion shortfall in the current fiscal year’s budget. Last week a New York Times article predicted that “deep cuts” in California government programs would result from the session, while Schwarzenegger’s Chief of Staff Susan Kennedy was quoted as saying “There’s no more easy stuff to cut; we are cutting into bone now.”
But neither of these assertions is true. There is no political will in California to cut state government programs (at least not in any substantial way), and “deep cuts” just aren’t going to happen. Similarly, there is plenty of “fat” that could be eliminated from the state budget – a swift cut in the state’s generous unemployment benefits program would make sense – but again, no California politician has the courage to do something so sensible.
Austin Hill is an Author, Consultant, and Host of "Austin Hill's Big World of Small Business," a syndicated talk show about small business ownership and entrepreneurship. He is Co-Author of the new release "The Virtues Of Capitalism: A Moral Case For Free Markets." , Author of "White House Confidential: The Little Book Of Weird Presidential History," and a frequent guest host for Washington, DC's 105.9 WMAL Talk Radio.