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California - Arnold Playing with Fire?

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...bankrupt. So says Ed @ creditwritedowns.com
And after reading the article in the Economist, and the mess that is the upcoming vote on the budget, I am inclined to believe things could get very ugly.
California has the lowest bond rating of any state.
The shortfall will be $21.3bn if the current raft of measures does not pass (and it is unlikely they will)
The Governor is on TV saying, "If this budget does not pass, I will have to start releasing prisoners and cutting teachers". Scary stuff in a state w/ scary gangs and scary schools.

So what the hell is the Gubernator doing? Rolling the political dice.

If it passes, he looks like a rain maker, and pulls the Republican Party towards the center, and away from Rush Limbaugh. He could form a party with Mike Bloomberg and Mitt Romney, and present himself as a real political heavy-weight.
If he loses, who cares. He can't run for president as of now, and so he has nothing to lose. His father in-law has Alzheimers, and the family homes have been sold off in DC. So there are plenty of other things he could do. The political party with which he is allied is a mess. He could easily switch parties (everybody is doing it!), take up residence in Massachusettes, and take Ted Kennedy's seat. Or Maria could.

Either way, he is using this crisis to advance his own interests, in an admitedly chaotic period.

Wouldn't you?

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Guest Monday, 25 May 2020