As you know, Arnold Schwarzenegger, California's governor, sent out 20,000 pink slips today to state workers. I wonder how many of those layoff notices went to state bureaucrats earning more than $100,000 a year?
You'll recall that, thanks to the governor's budget slashing, many who work at the DMV, and other state offices, have seen their hourly pay reduced to marginally above minimum wage.
I wonder how many in California's state legislature would like to have their paychecks reduced to a proportionately low level? How would bureaucrats respond to having their refrigerators raided, credit lines frozen, and loans to refinance their mortgages rejected?
It looks like central casting picked the right guy to play the Terminator.
While it may be heartening to see Arnold Schwarzenegger directing his focus on the environment, global warming, and refusing to buckle on emissions standards, the sad truth is that the rich, in his state, have gotten even richer, and the poor even poorer. Yes, gross disparity in wealth is a national phenomenon, yet it is more egregious in California than virtually anywhere else in the country.
And, the $60 million question is: given that California has the sixth largest economy in the world and, simultaneously, among the highest foreclosure and unemployment rates in the country---what happened to the money? Forget toxic assets, what about toxic denial, and what does this have to do with the bailing out everyone except for the beleaguered consumer.
It's mighty decent of the governor not to take a salary, but Logic 101 says that California's budget deficit would benefit more if he hit on those with the deep pockets instead of consistently going after the little guy in his state.