What do the Californians get for their taxes? Not much. It ranks 48th among the states in elementary school rankings in reading and 49th in science. Not much value for the high rate of per-pupil spending. Its teachers are the highest paid in the nation.

California’s public workers are the second highest paid in the nation. The unfunded liability of their pensions and health-care benefits is estimated by Stanford University to be $500 billion—a half trillion dollars. If you love bloated bureaucracy, you will love California.

California’s obsession with spending on every liberal program proposed is such that, by 2009, the government was so much in debt it began to issue IOUs instead of wages. Its unemployment rate had risen to more than 12%, the highest figure in 70 years. Currently, the state has $73 billion in outstanding bonds for capital projects and $33 billion in voter-authorized bonds that the state hasn’t sold because it cannot afford higher debt payments.

The result of this fiscal insanity is that “In 2010, at least 204 companies said goodbye to the state, exactly four times more than fled in 2009. The exodus surged to more than 280 companies in 2011, when they left the state at a clip of 5.4 companies per week.” This just leaves joblessness and economic stagnation in its wake.
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Holy crap!