California’s Legislators Lack Private Sector Experience

California’s lawmakers, to the extent they are elected with the support of public sector unions and to the extent they lack business experience, not only face a conflict of interests every time they have to deal with a reform that threatens the power of the unions. They are also less qualified to understand the financial and operational realities that apply in any  efficiently ran, productive organization. To exemplify this, consider how California’s democrats are crowing over a $6 billion budget surplus. Compare that $6 billion surplus to the nearly half-trillion in bond debt that California’s state and local governments have piled up, or the more than half-trillion in unfunded retirement benefits that are going to blow sky high in the next market downturn. Note: A trillion is a thousand billion.

Research Studies

Yes! Please send me your weekly email with more articles like these.