Walter Russell Meade is in fine fettle, today:
Scott Walker move over; San Francisco is the latest front line in the battle against abusive public sector unions.
The bluest city in the bluest state in the union has woken up and smelled the latte; generations of extortionate collusion between shamelessly greedy and shortsighted union leaders and unforgivably opportunistic and irresponsible politicians have left the Blue Paradise on the Bay with a pension bill that it simply can’t pay…
California’s shortsighted unions and politicians have left their successors in a horrible position: do you slash pensions that old people rely on, or do you cut government services like police, fire protection and education? Taxpayers generally favor the first alternative; it is hard to persuade hardworking immigrants struggling to raise kids that they should send their kids to bad schools on dirty, unsafe streets to save the money necessary honor abusive contracts made by past generations of labor and political bosses.
Maybe California can leave the dollar zone and switch to drachmas.