[IBD] There was more of the same old, same old California news recently. Some 62% of state roads have been rated poor or mediocre. There were more predictions of huge cost overruns and yearly losses on high-speed rail -- before the first mile of track has been laid. One-third of Bay Area residents were polled as hoping to leave the area soon.Such pessimism is daily fare, and for good reason.
The basket of California state taxes -- sales, income and gasoline -- rates among the highest in the U.S. Yet California roads and K-12 education rank near the bottom.
After years of drought, California has not built a single new reservoir. Instead, scarce fresh aqueduct water is still being diverted to sea. Thousands of rural central California homes, in Dust Bowl fashion, have been abandoned due to a sinking aquifer and dry wells.
One in three American welfare recipients resides in California. Almost a quarter of the state population lives below or near the poverty line. Yet the state's gas and electricity prices are among the nation's highest.
One in four state residents was not born in the U.S. Current state-funded pension programs are not sustainable.