Detroit went bankrupt. One stranger was acquitted for shooting another stranger. Which do you think the media spent more time covering?
Posts Tagged ‘Blue State’
Time for another Texas vs. California roundup! Just imagine how the MSM would crucify Rick Perry if the head of, say, the Texas Teacher’s Retirement System were indicted on multiple counts of felony fraud…
A grand jury in San Francisco charged Federico Buenrostro Jr. and Alfred Villalobos, and they were booked and released on bond Monday after briefly appearing in court.
Buenrostro, 64, served as CEO of the California Public Employees’ Retirement System from late 2002 until June 2008. Villalobos, 69, served on the CalPERS board and is a former vice mayor of Los Angeles.
The indictment alleges the two conspired to fabricate documents that certified to federal regulators that Villalobos’ firm had obtained required “investor disclosure letters” from CalPERS to serve as a “transfer agent.” The indictment charges that the falsified documents allowed Villalobos to reap $14 million in fees for serving as a middleman between CalPERS and a prominent investment firm handling $3 billion in CalPERS’ money.
Judging from the Fiscal Cliff votes, the United States appears to be eager to follow in the footsteps of Greece and California, rushing to unsustainable spending, crushing debt loads and inevitable bankruptcy, rather than following the lead of Texas and the Red State model of debt-free limited government and free enterprise. So let’s see where the two states are, shall we?
I’m not a fan of the Texas Enterprise Fund, because I don’t think government should be picking economic winners and losers; let them succeed or fail on their own merits rather than getting a boost from the Aristocracy of Pull. Some liberal critics have accused the Enterprise Fund of being Rick Perry’s slush fund for donors, but in truth all federal business subsidies are slush funds, and I think the Texas Enterprise Fund is markedly less corrupt than the Obama Administration’s green energy pork for contributors, or its $25 billion Government Motors bailout gift to the United Auto Workers.
Given that the Texas Enterprise Fund does exit, I can think of at least one good use for it: Helping gun manufacturers relocate from Blue States to Texas.
After all, it’s obvious that Blue State sentiment is running (at least right now) against legal gun ownership by law-abiding Americans, and that pressure (legal and otherwise) will be brought to bear on them to stop manufacturing certain types of perfectly legal weapons, or to cease business entirely.
So why not invite them to relocate to Texas? We have a skilled and highly educated non-union workforce, a broad and deep manufacturing base, a thriving economy, a culture that appreciates firearms ownership and their place in American history, stautory protection against frivolous lawsuits against firearms manufacturers, and no state income tax. While it’s a pain in the ass to move a manufacturing facility, doing so now could both increase a firearms manufacturer’s profit and prevent political pressure and legal harassment further down the line.
Companies that might be targeted include:
Among many, many others.
Texas could gain millions of dollars worth of economic boost at the expense of state that don’t appreciate firearms manufacturers anyway.
Another quick update on the respective fates of our nation’s two biggest states:
With the election less than two weeks away, time for a roundup of how the champions of their respective political models (Texas for Red States and California for Blue States) are doing:
The total personal income (TPI) in Texas reached $1.07 trillion dollars in the second quarter of this year, according to the U.S. Bureau of Economic Analysis. That’s an increase of 71 percent from the state’s corresponding total 10 years earlier, $626.7 billion.
Here’s another way of looking at it: Texas accounted for 8.02 percent of the nation’s TPI this year, up 1.10 percentage points from 6.92 percent in 2002.
That’s nearly five times larger than the runner-up, Florida, which increased its share of national TPI by 0.23 points in a decade. Just four other states registered gains better than a tenth of a point.
(Hat tips for many Texas items: WILLisms’ Twitter feed.)
Time for another Texas vs. California roundup. First up: The man who moved from one to the other:
(Hat tip: Willisms, City Journal, others.)
Time for another Texas vs. California round-up of how the Lone Star State is kicking the not-so-Golden State’s ass in just about every measure except signing NBA free-agents.
The City Council of San Bernardino, California failed to pass budget cuts at their meeting Tuesday, despite the city already being in bankruptcy.
After a meeting that lasted more than nine hours and stretched past midnight, the San Bernardino City Council failed to pass a plan for drastic budget reductions, an initial step in the city’s bankruptcy proceedings.
The proposed “pre-pendency plan” included $22.4 million in cuts, achieved by measures including slashing more than 100 jobs and closing three of the four city libraries. It would not cover the entire $45.8-million budget shortfall, but city staff called the plan a necessary first step.
Proposed cuts to the Fire Department became an irreconcilable sticking point. Twenty positions in the department were slated to be eliminated without layoffs, and the plan included an option of rotating closures at fire stations.
Instead of voting on the budget plan as a whole, Councilman Chas Kelley made a proposal to vote on an alternate plan for the Fire Department that was backed by the firefighters union, and to direct staff to seek bids on a proposal to contract out some of the city’s trash services.
The vote, taken after midnight, passed 4 to 3 but was promptly vetoed by Mayor Pat Morris, who had called that plan “irresponsible” and an “almost slavish adoption of a union proposal without any analysis.”
Maybe they can delay things long enough that repo men are actually carting furniture out of the council chambers before they vote…
(Hat tip: Dwight.)
It’s late August, and California’s slide toward insolvency continues apace.