As the Dust Settles on California in the Wake of The Thankfully Failed Special Election Initiative, Revisit One More Time Exactly What The Golden State's Problem Was, Is, and Continues to Be…
Matt Welch and Tim Cavanaugh rightly do a jig on the massive failure of yesterday's special election initiatives in California. Proposals so odious that even Gov. Arnold Schwarzenegger high-tailed it to the East Coast rather than watch the results come in.
This isn't just a California story (though let's all admit that those of us not living in the Golden State, or who once lived there, enjoy seeing the place hit the skids). It's the story of virtually all states in the country, and the underlying causes are the same: Rampant, out-of-control spending by the government. Revenue hasn't been the issue for the states; it's always on the spending side of the ledger. Check out the May issue of Reason for the details.
And watch once again the Reason.tv joint "Hasta La Vista, Arnold!: What California's economic mess means for America," produced by Ted Balaker, Alex Manning, and Paul Detrick: