the article is mistaken, michigan has a much higher unemployment rate than we do...I just read that California is now banning all flat screen TV's that use too much energy. This is just the kind of absurd liberal regulation that has ruined the golden state. I think the Wall Street Journal summed it up pretty good with the following.
The Wall Street Journal has described the result:
“The Golden State -- which a decade ago was the booming technology capital of the world -- has been done in by two decades of chronic overspending, overregulating and a hyperprogressive tax code.…”
One might argue that’s this is a politically biased assessment. So here are some facts, not assessments:
California’s state expenditures grew from $104 billion in 2003 to $145 billion in 2008.
California has the worst credit rating in the nation.
California has the fourth highest unemployment rate in the nation, 9.3 percent -- higher even than the car manufacturing state of Michigan.
California has the second highest home foreclosure rate.
California’s tax-paying middle class is leaving the state. California’s net loss last year in state-to-state migration exceeded every other state's. New York, another Left-run state, was second.
Since 2000, California’s job growth rate -- which in the late 1970s was many times higher than the national average -- has lagged behind the national average by almost 20 percent.
California has lost 25 percent of its industrial work force since 2001.
Joel Kotkin, one of the leading observers of urban America, the presidential fellow in urban futures at Chapman University, recently wrote an essay on California, “Sundown for California.” He begins with these words:
“Twenty-five years ago, along with another young journalist, I co-authored a book called “California, Inc.” about our adopted home state. The book described ‘California’s rise to economic, political, and cultural ascendancy’...But today our Golden State appears headed, if not for imminent disaster, then toward an unanticipated, maddening, and largely unnecessary mediocrity.”
That is what left-wing policies have done to California. In Kotkin’s words, “the state legislature decided to spend its money on public employees and impose ever more regulatory burdens on business.”
Last week, Intel, the world’s largest maker of computer chips, announced that it would invest $7 billion to expand its facilities. Where? In Arizona, Oregon, and New Mexico. But not in California, the state in which Intel is headquartered.
The Left is bringing the greatest state to its knees.
There is more.
Prager has an important message because what liberals did for California they are trying to do for the rest of the country.
I do have a problem with his last quoted sentence. At this point Texas is a greater state than California and is becoming the home of more companies because it has rejected liberalism.