The chart has both. State and local and federal all increased spending as a percent of GDP. Unless I screwed up this graph, it does not show that spending is the cause of job loss in California or the rest of the states. Why did California lose all those jobs? Because most of that new money went into pension payments for retirees. Spending is inaccurate because the pension payments were hidden from the bond junkies and voters.
What is the future for California? Fewer public sector employees.
No comments:
Post a Comment