Monday, December 27, 2010

Bail Out California?

This article for The Daily Caller argues that conservatives might want to bail out California in order to use the leverage to force it to reform, a la International Monetary Fund bail out reforms. It could work, who knows?

I suspect newly elected Governor Jerry Brown will try to get radically higher taxes to pay for all the stuff CA wants to spend money on. The sensible thing would be for Congress to pass legislation to permit states to file for bankruptcy.