So Goes California, So Goes the Nation

California voters just put four rounds in the tax propositions yesterday. As they should have.

Governor Arnold Schwarzenegger had this to say:

“I respect the will of the people who are frustrated with the dysfunction in our budget system,” Mr Schwarzenegger said in a statement from Washington, conceding defeat. “In order to prevent a fiscal disaster, Democrats and Republicans must collaborate and work together to address this shortfall.”

California has become a preview of where America is going under Obama. An insane political class has decided that you can spend your way out of debt. But California can’t borrow money anymore. They destroyed their credit, their bonds are poorly rated and they can’t print money like the Obama administration has. (more…)