California, one of the world’s largest economies, has reached the brink. It is a sad day for America for California always promised the “Golden Road” for the rest of the country as the pioneering state. But years of badly managed public finances with ever-increasing entitlement spending with no corresponding increase in taxes have left the state near bankruptcy.

California has the lowest rated bond in all 50 states. The state budget has a deficit of over $20 billion. Politics is a non-consensus game between high-spending Democrats and tax-hating Republicans. Although it is not entirely surprising, it is not shocking that even during a time of state crises the political establishment still could not meet to agree to a budget compromise.

So the state of California has resorted to issuing I.O.U.s to private creditors, some of whom doubt they will ever get paid. The last time I dealt with an I.O.U. was during junior high. It is a beyond belief that even with the state on the brink of bankruptcy, short-sighted politicians still could not do away with such a paradigm and embrace a vision for the common good. California was to have the worst politicians ever.

But apparently even in a time of crises, the state’s politicians can still afford to pander to the Israel lobby. Hey, there’s an election next November!
So while California is running out of money, the state’s board of education - which mismanages tens of billions and is one of the reason for the bankruptcy - is actually hosting a forum encouraging Californians to invest in a foreign country:

This is about politics because before you think, what does the board of education have to gain?, all the board members seek election. Here’s a though. Why not stop spending tax payers money to play host to a foreign nation at a time when state employees are being forced to take unpaid leave in order to save money; every penny counts. And second, why isn’t a state body encourage Californians to invest in themselves first and foremost? California has an unemployment rate +10%. It needs all the job-creating, revenue-making investment it needs. Invest in California, assholes!

But then the state education board members, like most politicians in that sad state, care more about their personal well-being [campaign contributions from pro-Israel donors] than the general state.