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Texas vs. California - #14
California is the new France; so sez the WSJ. Money quote:
Even discounting for the impact of global recession, the most populous state's ills are unique and self-inflicted -- and avoidable. In the last three decades, California expanded the public sector and regulation to Europe-like dimensions. Schools, state employees, health care, even dog kennels, benefited from largesse in flush times. Government workers got 16 official holidays, everyone else six. The state dabbled with universal health care and adopted strict environmental standards. In short, California went where our new president and Nancy Pelosi of San Francisco want America to go.
Texas, meanwhile, is the new Austria.
Which Model works Better?
Uodate: When I called Texas the new Austria (which was, of course, a reference to the school of economics, NOT the economic policy of the country), I forgot that was Schwarzenegger's country of origin. Oh the irony....
- Cahnman's blog
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