California: The Lindsay Lohan of States

[Valin]

WSJ:

Sacramento is headed for trouble again, and it shouldn't expect a bailout.
ALLYSIA FINLEY
11/8/10

Listen up, California. The other 48 states—your cousin New York excluded—are sick of your bratty arrogance. You're the Lindsay Lohan of states: a prima donna who once showed some talent but is now too wasted to do anything with it.

(Snip)

You've racked up nearly $70 billion in general obligation debt, and that doesn't include your $500 billion unfunded pension liability. Your own analysts predict you'll face a hole of at least $80 billion over the next four years.

Your government's run by a brothel of environmentalists, lawyers, public-sector unions and legislative bums. When they're not taxing or spending, they're creating regulations and commissions like the Board of Barbering and Cosmetology and the California Blueberry Commission. Many businesses would leave if it weren't for your sunny climate.

(Snip)