The warning has been sounded.
The state of California is going broke and if we in Michigan don't do something quick we are going to be right behind it. The article I have linked to below from the Blog Prof via our friends over at http://www.rightmichigan.com/ is a very interesting article about the looming crisis in California of running about 23 billion short in their budget and what they will do to scare the public.
Click to read The Blog Prof right here.
Now a lot of what the politicians in Cali will propose I'm sure the Michigan pols will try to do and scare the public.
I find it not a coincidence that California has the highest paid state legislature and Michigan is the second highest in the nation. Both states are in huge fiscal trouble.
Some might say that Michigan is easy to figure out because of the trouble in the automotive industry. Or the weather is nicer in 20 other states. Why is California in trouble than? California has a highly educated work force, beautiful weather in most of the state and has always been a destination state to live and visit.
The answer is because both state legislatures and Governors are tax and spend junkies. Which goes to show that a Republican and Democrat Governor can fail equally as bad. Bad policies can transcend either party and destroy the business climate and quality of life for it's citizens.
Hopefully we in Michigan learn from our fellow state out to the west and correct the mistakes we have made and not follow California into the abyss.