California has long had the reputation of being trend-setter to the nation. The Golden State was practicing Obamanomics back when Barack was still called Barry. And now its ways are catching up to it like a hard partier who looks in the mirror one day and sees the portrait of Dorian Gray staring back at him.

Get ready America: California’s unsustainable path is echoed by the federal government. One will crash before the other, giving us all a preview of things to come.

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Part of what is slowly destroying California is its move from a land of plenty to a land of locusts. The state taxes and regulates resident companies to such an extreme extent it has driven many of them, and many tax-paying citizens, to other states. For decades California was a place to migrate to. Now it’s suffering an exodus. The fault lies in a political shift from being a conservative, low- tax state to a statist, high-tax nanny state. Californians used to be the freest people in the United States and the world, and now? Not so much. (more…)