Quote:
Originally Posted by DePaul Bunyan
California is where Illinois was 30-years ago. The numbers are jarring but people are ignoring them because they're a ways away from actually having to do anything about them and "muh 6th largest economy" chest-thumping, which makes California's financial affairs immune from math or something.
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California's unfunded pension and other liabilities seem daunting but they are not atypical. What you are really saying is that many states are 30 years behind Illinois. You might be right but from everything I've read Illinois has some unusually dysfunctional politics. California's politics works pretty well, maybe too well in that it allows the state government to efficiently pass new and creative ways to spend money and raise the revenue to pay for it. And its initiative and referendum laws and traditions give citizens a way to thwart the worst efforts of its politicians (example: They hate the property tax limiting Prop. 13 and have been trying to do away with it for decades but it is still there because the voters want it).
Nevertheless, none of this would seem to be a reason for business to leave the state at this time. If you turn out to be correct, they can wait 30 more years and leave IF your prediction comes true.