The Golden State is no longer the biggest chump of all states, says Moody’s.
Citing the state’s ongoing financial problems, Moody’s Investor Service on Friday downgraded Illinois’s credit rating to the lowest of any state in the country. … California now has the second-worst credit rating in the U.S. …
“It remains to be seen whether the state has the political willingness to impose durable policies leading to fiscal strength,” Moody’s explained in a statement …
Which, of course, is the same question that Californians ask when looking at our leaders. It remains amazing to me that California Democratic lawmakers are so indifferent to the idea that helping the private sector helps solve perennial budget crises because it increases revenue.
In Austin, there are plenty of Dems who want to help Texas’ energy, export-import and ranching industries. In Tallahassee, there are plenty of Dems who want to help Florida’s tourism and international trade industries. In Albany, there are plenty of Dems who want to help New York’s financial, ag and tech industries.
In Albany, one of these Dems is the governor. Andrew Cuomo is a family dynasty liberal, just like California’s Jerry Brown. But Cuomo has figured out things that escape our allegedly brilliant Zen governor, who seems to think that there is little connection between what the state government does and how the private sector functions.
Cuomo has worked with his legislature to cap some taxes, used tax credits to promote investment and attract manufacturers, sought business input on reducing onerous regulations, etc. etc. etc.
Can we trade governors? Please?
The Golden State has had unemployment of more than 10 percent for well more than two years, and yet this still hasn’t created a sense of urgency about helping the private sector in Sacramento — or, for that matter, among the editorial writers at the L.A. Times or Sac Bee, the most influential newspapers in the state.
Why? Seriously, why? How can hostility to the private sector be so intense that people on the left don’t appreciate out that the private sector employs, yunno, Democrats, not just evil corporate lackey Republicans?
In America’s three other megastates, Dems have figured this out. Not here. Great, just great.