May 16, 2012
A failed progressive leadership has gotten California where it is today - in a fiscal disaster - and yet these elected officials are still willing to spend more, even if the bill for their big ideas falls on the backs of all federal taxpayers.
House Speaker at a May 15 fiscal summit: "When the time comes, I will again insist on my simple principle of cuts and reforms greater than the debt limit increase."
Government, just by its nature, resembles a schoolyard bully, exerting its power through judicial fiat, often nullifying the will of the people, and then there are the unelected bureaucrats, the regulators and the executive orders.
"[W]ith even the US suffering a credit downgrade to AA+ and offering negative 200 basis point policy rates for the privilege of investing in Treasury bills, the willingness of creditors - as opposed to debtors - to support the existing system may soon fade.