Economics & Personal Finance
Should The Government Bailout California?
It was recently revealed that California is in huge economic trouble. Should the Federal government bailout California?
My first thought is that any bailout should come with some strings attached. I don't want federal tax money going to California so they can spend the money like they have been doing in unsustainable ways.
It seems as thought California has a basic budget problem where it takes two thirds of the legislature to pass a budget. This has allowed the minority Republicans to block many budgets with only "a third plus one" vote count.
While budgets have been blocked, California also allows voters to vote on spending programs through electoral propositions. This ads new spending to the state budget without having budgets in place to pay for the new programs.
What should be done with the economic mess in California?
My first thought is that any bailout should come with some strings attached. I don't want federal tax money going to California so they can spend the money like they have been doing in unsustainable ways.
It seems as thought California has a basic budget problem where it takes two thirds of the legislature to pass a budget. This has allowed the minority Republicans to block many budgets with only "a third plus one" vote count.
While budgets have been blocked, California also allows voters to vote on spending programs through electoral propositions. This ads new spending to the state budget without having budgets in place to pay for the new programs.
What should be done with the economic mess in California?
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