Government

The California state government is bankrupt. The Democrat-controlled legislature keeps promising that the government will give people free stuff forever. Unfortunately, that's not how reality works. The city of Stockton thought it could get away with this, but it recently filed for bankruptcy. Under Stockton's bankruptcy requirements, all medical benefits to retirees have been eliminated. Many creditors who loaned money to Stockton got burned. They'll never get their money back. You think anyone will loan money to Stockton again? Would you?

To pay for its promises, the State of California has had to sell out our children's futures by borrowing money today in exchange for the labor of our children tomorrow.

That's right - California's unborn children are subsidizing the expenses of the government today. Actually, that's not completely true. Today's California taxpayers are already on the hook to pay the debts of prior years. Unborn California children will have it even worse than today's taxpayers. Most of this expense is going to government employees, of course. State pensions are the biggest unfunded liability in the state budget, and the government has no plan in place to make it solvent.

Of course, the government can keep borrowing money to kick the can down the road, but the longer they do, the worse the crash will be when it comes.

If elected, I would fight to responsibly remove the unpaid debt burden on unborn children. To accomplish this, I'd bring in all stakeholders and ask them an honest question - do we want for California what happened to Stockton, or can we make a deal to protect young Californians while making good on promises we made to public employees? There's plenty of fat to trim at the state level that I'm sure we can make a deal that works for everyone. Making it in this world is hard enough. As adults and leaders of our state, we are the ones responsible for making sure that our children enter the world with better opportunities than what we were given.

Yes, it's going to hurt. Yes, it's going to be unpleasant. No, it's not a very good campaign model. But I'd rather suffer through short-term pain than dragging it out and dealing with a statewide financial disaster later. We can make it through this together with responsible economic government reform.

Our children are the future. The worst thing we can do for them is to hand them a bankrupt government that demands they pay the state for debts they did not create themselves. We have to give our kids hope for the future. They must be free to write their own destiny. And above all, they shouldn't be held accountable for the financial negligence and greed of the generations that came before them!

 

Further reading:

https://www.theatlantic.com/business/archive/2012/08/the-biggest-reason-why-california-is-bankrupt/261524/

https://www.wsj.com/video/will-california-go-bankrupt/700CCFA2-5B06-4142-947C-101AADA66F38.html

http://www.latimes.com/business/la-fi-pension-controversy-20150317-story.html

https://www.dailybulletin.com/2018/03/17/pension-rules-must-change-to-keep-california-solvent/