Democrats control California's Legislature, and its governor, Jerry Brown, is a Democrat. California is home to some of America's richest people and...
Frightening. I think Mr. Williams just predicted the future. Even more frightening, that it may not be the distant future. As a Californian I have for years been concerned that if I leave the state when I retire and take my pension with me, the state politicians will come after that retirement since it was earned in California.
California was once the land of opportunity, but it is going down the tubes. Several of California's prominent cities have declared bankruptcy, such as Vallejo, Stockton, Mammoth Lakes and San Bernardino. Others are on the precipice, and that includes Los Angeles, California's largest city. California's 2012 budget deficit is expected to top $28 billion, and its state debt is $618 billion. That's more than twice the size of New York's state debt, which itself is the second-highest in the nation.
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