The Worst Is Yet To Come For California

Elections have consequences. There is little doubt that the reelection of President Obama will have far ranging consequences for the country. The last two decades of legislative elections in California have had enormous consequences for California and the U.S. more broadly. After 18 years of spending, taxing and regulating, the most resource-rich state in the Country is facing underemployment in excess of 20%, huge perennial deficits and failing schools. Sadly, the worst is yet to come