Wednesday Stories: California on Brink; More Government Oversight; Good News For NYC Commuters

California is the model for a successful government run by the democratic party...oh wait...

Obama is creating a world where no is "responsible" except for the "rich" who appear to responsible for everyone. Along that line of reasoning, California should be bailed out. I live in California and don't think we should be bailed out. I think we have enough pork we can cut. You can look at www.hjta.org (Howard Jarvis Taypayers Association) for more information.

Is California falling off a financial cliff going to drag other states or the rest of the US with it? How will this affect the country's economy if The Golden State declares bankroupcy and neeeds a significent portion of a Trillion dollar bailout? If they default, who is next? Arizona?(already reeling from the loss of tax funds from homeowners in default) Nevada? (same problem, but with the added loss of gambling revenue that it had depended on) How high can oil prices go when so many people AREN'T driving to work every day like they used to? Lots of Staycations this summer... RV companies are falling like dominos... Flights are full, but so are the mothball airfields of the desert southwest... Drilling rigs are idle all over the country, but storage facilities are at capicity... We hear of how China's economy still expands, albeit at a reduced rate, but can we believe what we hear from the Chinese Government? When America stops buying the cheap doodads and lead painted toys, will they have to start laying off millions? They sure won't be able to buy our treasury debt then... And what happens next year when all the raised taxes start coming due and people have neither the money or the credit cards to pay? Start digging. You're going to need a big hole if you want to put your whole family in it and pull it in after you.