I skimmed the article and got to the first comment complaining that Larry Ellison spends millions on the America's Cup and he doesn't give a crap ...
Basically, the problem is that for years CA, and America in general, spent money that it didn't have and now it's going to get painful.
There's no point in whining and complaining. Americans are doing it to themselves. Sit down and decide what we can afford to pay for and quit kicking the can down the road.
>Basically, the problem is that for years CA, and America in general, spent money that it didn't have and now it's going to get painful.
I think it's more that we spend money on the wrong things and that taxes aren't structured to reflect the reality that wealth is concentrating into fewer hands.
Like a said, we've spent more than we have for a little too long. Now this type of story doesn't really belong on HN. It's the type where you get downvoted for not having the liberal opinion. Bad news, it's going to get worse. Debt is at 100% of GDP.
Basically, the problem is that for years CA, and America in general, spent money that it didn't have and now it's going to get painful.
There's no point in whining and complaining. Americans are doing it to themselves. Sit down and decide what we can afford to pay for and quit kicking the can down the road.