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For those of us living in California, be prepared. This state is coming to a grinding halt economically, as the budget deficit will continue to grow as the people have resisted higher taxes to finance California’s out of control spending. The silver lining in all of this is the inevitability of small government, though there will be lots of pain as the state’s residents learn to live without some services provided by California. So far, the professor of Obamanomics has declined to bail out the state, which is about the only thing he has done right. My gut feeling though is that there will be some type of federal economic stimulus plan announced for California in the near future.
The Governor’s proposal to massively cut services such as welfare and educational assistance, among others, will cause even more restlessness among the needy, and could even lead to a substantial increase in petty theft and crime. Couple this with food and energy prices rising and you’ve got the ingredients for things getting real ugly real fast. If you’re keen enough to see what’s ahead, now is the time to act.

On Fox Business News

FRONTLINE investigates the causes of the worst economic crisis in 70 years and how the government responded. The film chronicles the inside stories of the Bear Stearns deal, Lehman Brothers’ collapse, the propping up of insurance giant AIG, and the $700 billion bailout. Inside the Meltdown examines what Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke didn’t see, couldn’t stop and haven’t been able to fix.

This episode of Frontline will air on the 17th on PBS and can be watched online as well. Here is a preview:

The Senate today voted in favor of the economic “stimulus” bill proposed by Mr. Obama. Tax evader, err, Treasury Secretary Timothy Geithner today announced another round of bank bailouts to the tune of $1,500,000,000,000 (1.5 trillion) or more to “get credit flowing and aid struggling banks.”

Meanwhile, stocks tumbled nearly 5% on Wall Street today. I looked for any kind of silver lining today, but I need help with some research. Does anybody know who the manufacturer of this printer is? Their stock price must be going through the roof right now! Let me know, thanks.

On the eve of the Senate’s vote for the nearly $900 billion economic stimulus package, it’s appropriate to consider another viewpoint. One that argues that passage of this bill will most likely ensure our nation succumbs to the greatest economic depression ever.