I don't know why
Somebody laid the mountains low
While the town got high....
Here's a Paul Krugman analysis of the financial debacle called California.
And in true Krugman fashion, the blame doesn't lie with democrats who've controlled the state for the last millennium, it lies with minority party who doesn't have enough power to open a lemonade stand.
For California, where the Republicans began their transformation from the party of Eisenhower to the party of Reagan, is also the place where they began their next transformation, into the party of Rush Limbaugh. As the political tide has turned against California Republicans, the party’s remaining members have become ever more extreme, ever less interested in the actual business of governing.Read the rest of this farce here....
And while the party’s growing extremism condemns it to seemingly permanent minority status — Mr. Schwarzenegger was and is sui generis — the Republican rump retains enough seats in the Legislature to block any responsible action in the face of the fiscal crisis.Will the same thing happen to the nation as a whole?