Arnold Schwarzenegger vs. Gray Davis

Originally posted by eljefejesus
True, although it's only been true in Washington for about 3 years, while it's been true in California for about 13 years... which explains some of California's problems with responsibility and responsiveness.

You mean like their energy crisis a few years back? Yep, that's probably where the whole country is headed now.

Does anyone have a link showing California's entitlement programs? I once heard they were spending about $40 million on day care of illegal immigrants. Can you believe that? Never mind sending them back where they belong. In addition, they said California spent hundreds of thousands of dollars for their sea otter population. Oh well, its ony money.

Originally posted by AThousandYoung
Social security has been poorly implemented and needs to be modified. I have not studied it in depth so I can't give specific recommendations.

Low birthrates are easy to handle and helps with another issue. Increase legal immigration. There are many skilled workers who cannot get here legally. If we expect people to live longer change the age y ...[text shortened]... set up to handle such situations. It will happen again and again as birthrates rise and fall.

Although i agree with you regarding that aging retirees mean immigration becomes more important to keep the economy growing, we do not agree regarding debt. Deby still has considerable downsides before they create a complete default crisis.

Increasing debt levels put upward pressure on interest rates and crowd out investments.

You are right about the need to raise the retirement, but who's gonna do it in the current government... doesn't seem likely at all...

Originally posted by whodey
I suppose that this is where we part ways. I'm not OK with debt. I suppose it is a necessary evil, however, that does not change the fact that debt is nothing more than a noose around your neck and should be used with caution as a result. So where is the caution today?

Well sure, caution is warranted, and perhaps we're not being cautious enough now in some respects.

One of the main causes of California's debt problems is the ease with which special interests groups can organize referendums to block tax increases or to cut taxes. The average voter does not understand the complexities of taxation and will simply think a tax increase will always disadvantage him, which is obviously not the case.