Most Americans oppose a bailout for California, according to a Rasmussen survey. Just 27 percent of voters believe the state should receive federal bailout money while 55 percent think the state should go bankrupt. (For the record, states cannot declare bankruptcy.)
This news comes as Arnold Schwarzenegger reportedly pushed against the health care reform bill as “health care to nowhere,” filled with “bribes, deals and loopholes.” Schwarzenegger has been on a rampage against the bill because the bill would increase costs for an already insolvent California budget.
Legislation was recently introduced in the legislature that would have actually prohibited municipalities in California from declaring bankruptcy. Why? Because doing so would allow these municipalities to cancel their current labor agreements, something unions fought for tooth and nail.
In other words, while California can’t even save itself, the federal government is compounding the problem by foisting more financial burdens on the state.
