California, there she goes!

Stockton Bankrupt; Unions Pension Death Trap for Cities to Blame  

1. The immediate solution is bankruptcy. Expect to see more cities file. However, longer-term structural problems must also be addressed.

1. Untenable pension contracts need to be tossed out by the courts and benefits reduced. Every taxpayer not on the public dole should cheer bankruptcy, not resist it.

1. End defined benefit pension plans for public union workers.

1. End collective bargaining for public union workers. Governor Scott Walker in Wisconsin has proven that can be done.

1. Scrap Davis-Bacon and all state prevailing wage laws.

1. Institute national right-to-work laws. 

1. Merit pay for teachers

1. More competition from accredited online schools to drive education costs way down

1. Scrap student loan programs that only benefit administrators and educators, not the kids.

California’s Fiscal Woes  ..."There are three major problems:  (Watch for the word "fairness")

(1) Stringent real estate development restrictions,
(2) High tax and regulatory burden, and
(3) The power of the public employees’ unions  

...."Whenever you raise taxes, you decrease investment. It’s that simple. It’s been spun as an issue of “fairness”, but that’s a flawed prism to examine the issue under. It’s not about “fairness”; it’s about the fact that you can’t create growth without investment and high taxes take money away from investment."