I've been saying it for a while, and after seeing this today have decided I'd write it as well.
If the CA legislature and executives were a corporate board, I'd sue them for corporate malfeasance. The same can be said for the dummies in DC:
Glenn Reynolds called it political malpractice. Well, to be clear, I haven't been saying that. Better A, better B...whatever you want to call it, it's criminal and far exceeds the excesses of Enron and those other greedy, nasty Evil Corporations.
The unfunded liabilities of Social Security, Medicare and Medicaid already exceed $106 trillion. That’s well over $300,000 for every man, woman and child in America (and exceeds the combined value of every U.S. bank account, stock certificate, building and piece of personal or public property).
You could tax 100% of earnings of 100% of the work-force for 100 years and not even begin to scratch the surface.