California's Perilous Future

I stumbled upon this latest report published by the Public Policy Institute of California that will hopefully shed some light on the enormous problems facing the state, only a microcosm of the entire country and the global issue.  The report, California: Planning for a Better Future 2025 is a report that I would like to discuss in greater detail, but wanted to ponder of it a bit.  

With the backdrop of yesterday's announcement from the City Controller of Los Angeles, Wendy Greuel that the city is essentially broke and will be unable to pay city employees starting on May 5 if nothing is done, this raises questions about how money is being spent locally and how we continue to fall into greater and greater debt.  Not only did the U.S. taxpayer bail out banks, but now our cities are falling apart at a faster rate.  Our urban places are going to suffer if we are not able to think of fresh new ideas to fix our broken systems of governance.  More to come on the unending saga of City of L.A. bankruptcy, but for now, we'll just pondering over the PPIC report.