Let this be a lesson to you.
I posted on some of California’s economic antics the other day, after reading Mark Hemingway’s article at the Washington Examiner. Roger Hedgecock over at Human Events has more on how the “business exodus from California accelerates.”
In 2010, 204 California companies expanded outside California or moved out completely. In 2009, the number was 51. The gold is fleeing the Golden State.
California’s infrastructure is crowded and crumbling. The school system is in a death spiral. The universities are overpriced and bloated with unions and bureaucrats. The tax base is narrow and focused on the rich, many of whom are leaving.The state’s environmental laws have crippled a can-do culture with can-never-do paralysis. An estimated 5 million residents are illegally in the state.
The official unemployment rate is 12.5%. Counting those who have given up searching for a job and those who are working reduced hours or part time, the rate is closer to 20%. In parts of Los Angeles, and in the water-starved Central Valley, unemployment ranges from 20% to 40%. More than 3 million California residents receive food stamps, up 47% since 2007… (continue reading)