When analyzing some governments, it becomes easy to see why they are failures. Venezuela is one that comes to mind. Argentina is more challenging to analyze, but its recent turn to the left and a more authoritarian government has once again brought the economy near collapse. Detroit is the shining example of a failed government within the Unites States. The question is: will Los Angeles become the next government to crumble?
I have believed Los Angeles was a disaster in the making for a long while. It has a government that drives businesses out with an oppressive tax structure that can be five times higher than neighboring cities in its midst. Then they follow up with a slanted audit process that attempts to extract even further revenue to feed its bureaucratic beast. The roads have deteriorated in such a fashion that the home of the “fun and sun” car culture -- where driving is very much a necessity to navigate a spread-out city -- are now rated the #1 worst in the country. The issues go on and on making the largest redeeming factor being the fantastic weather.
Now I am not the only one who is citing the failings of Los Angeles as a city. A commission established by the Los Angeles City Council President, Herb Wesson, and a former Commerce Secretary, Mickey Kantor, has weighed in saying Los Angeles is a mess and a disaster waiting to happen. The commission, called Los Angeles 2020, issued the first of its two reports which detailed status of the City.
The beginning of the report at least speaks honestly, almost. It is called A Time For Truth. Some of what it outlines is that 28% of Los Angelenos earn poverty pay. If you include those out of work, they state 40% of residents live in misery. Los Angeles is the only one of seven major metropolitan areas in the country to have a net decline in employment over the last decade. Major industries are leaving; none are moving here. Twelve companies on the Fortune 500 used to call Los Angeles home, and now just four do. The school system graduates just 60% of its students from high school and only 32% are qualified for either the UC or Cal State University systems. The pension system has set aside only 10% of the future needs of city workers. These are just some of the devastating facts stated by the commission.
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