Much is written about the problems faced by trend-setting California. Here Victor Davis Hanson, writing for
Townhall.com, comes up with the most comprehensive CA "
balance sheet" I've yet seen. He itemizes the state's assets and liabilities, with emphasis on the former. For those of us who care about the Golden State, it is a good read. His conclusion is particularly apt:
The state's problems involve a larger "California philosophy" that is relatively new in its history, one that now curbs production but not consumption, and worries more about passing laws than how to pay for them.