In the Los Angeles Times, an article by Peter Nicholas and Richard Simon addressed this issue. I cannot understand how we we can bail out California if they do not have a plan on how it would be repaid from current revenues not projected ones., It my understanding that California is one of the most highly taxed states in the country. Where is their fiscal responsibility? Can you tax yourself out of this? I do not think so. You need to reduce payment to those that are not paying taxes and are enjoying our free services. Get the budget balanced, determine how the government loan, if any, is repaid, and set a budget that reflects current revenues.
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