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The State poster child for Socialism, California, is facing a reduction in the number of teachers for the fourth year in a row with potentially 20,000 teachers losing their jobs. What is most shocking to teachers is the fact that they may suffer the same fate as private sector employees, namely layoffs.
California is facing a budget deficit of $20 billion while its total outstanding debt is $2.3 trillion. Employee pension funds are underfunded by $500 billion dollars. They have become the state version of our Federal financial fiasco. While the teacher’s union likes to point out that is costs the school districts about $700 to process each noticed teacher, it pales in comparison to the annual cost of salaries and benefits.
Their familiar refrain on the reason for budget deficits is underfunding not overspending. The truth is: more revenues means more spending not a reduction in the budget deficit. Corporations, small businesses, and individuals must balance their budget and insure that their expenditures do not exceed their income but government feels no such constraints.
Socialism has been tried and has failed every time it has been tried. There is the presumption on the part of Socialists that they can better spend our money than we can. But our Federal government and California underscores that false assumption. To think that our favorite west coast state has a clue on balancing their budget would be California Dreaming.
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