The ever present, yet mysterious “they” tell us that “As California goes, so goes the nation.” I tend to believe “them” on this one. Today the voters of California are deciding on a few ballot measures that are supposed to “save” the state from financial ruin; read: raise taxes. Not surprisingly early reports tell the rest of the nation that these tax hike measures are going to fail, because, oh gee, what a shock, Californians are tired of having their taxes raised!

California State Treasurer has requested, nee begged, the Treasury for help. In a letter to Tim Geithner he wrote: “The enormous size of the required funding together with the state’s current credit condition and the continued weakness of the municipal finance market . . . make it highly unlikely that the state can access the short-term market for its borrowing based on its own credit,” Here is the translation for those of us who speak sanity, “Umm, we’re really screwed because we can’t seem to balance our check book, and we have a crappy credit rating. No one wants to buy our bonds and without our bonds we are so totally hosed. Um, Dad, can you give me a loan till payday?”

It’s also no surprise that Rep Barney Frank is willing to write legislation that will back up California’s bonds with “the full faith and credit of the United States.” I’m sure he’s hoping to get the same deal for his home state of Taxachusetts, which is swirilling on the edge of flat and broke as well. But, seriously, do we even really know what ‘the full faith and credit of the United States’ means anymore? How many banks, auto companies, shoe stores, starving rich people and so on are being backed up with this ‘full faith and credit’? There is only so much money we can create before we start having problems – oh wait, that’s already happening! I guess someone forgot to tell Barney and Timmy that you should not and cannot spend money you don’t have.

I have a solution for California. Cut all legislators’ salaries to $0. Give the Governator the same pay cut…after all, you know Ahanold can sup off of some of the Kennedy goodness if need be, and not making any money might be the element of sanity that’s needed in Sacramento. Cut non-essential stuff like sea otter research, green programs, handouts to people that can work, aid and comfort to illegals and start drilling for oil, lower the state income tax and let people live their lives! I promise California if you let people solve the problem by allowing the markets to work,California will work and the budget issues you seem to constantly have will go away.

I learned teaching high school kids that sometimes the best thing you could do for a child in trouble was to tell him NO, and let him face the consequences of his actions. There can be great lessons in failure, perhaps California it’s time you learned them.