Quote:
Originally Posted by Chicks
How amusing that someone from Detroit is giving “lessons” to California on public debt. Detroit’s solution was just like Donny’s. Declare bankruptcy, screw those to whom money is owed. Meanwhile, CA just jumped up a spot in the world’s most vibrant economies, overtaking the UK.
https://en.m.wikipedia.org/wiki/Detroit_bankruptcy |
Nice attempt at a dodge, Chicklet. Can't address the facts posted so now you try to change the topic.
I'll give you this much:
I certainly was a witness to Detroit's spectacular fall from a great American city, to the fall from grace amid profligate spending against declining revenues, to city officials and employees convicted of looting the city and creating a pay to play environment, to a budding resurgence. Detroit chased businesses and investments out of town that might have changed its fortunes.
California might be able to weather its increasing debt for the foreseeable future largely due to the economic clout of Silicon Valley and Hollywood, and the
high taxes that those businesses pay. However, it remains
THE worst state to do business in.
But nothing lasts forever and California is fueling its own demise. The folks that help create California's revenue stream have been
leaving steadily. Businesses have also been
leaving California for other states, and that trend shows no sign of changing.
California is a long way from becoming another Illinois. But it needs to address those elements that are
driving up housing costs, and driving individuals and businesses to relocate.