By Selwyn Duke
California's budget woes are the result of gross fiscal irresponsibility. And at this point there is only one realistic cure: bankruptcy.
There is a beauty in bankruptcy. Strange words, I know, but it's true. As an example, there is the story of an old friend of my father's, a man who at one point in his life was a compulsive gambler. Oh, he was a heck of a nice fellow, but a slave to his vice. He used credit to fund his rolls of the dice and he spent and spent and spent until there was nothing left to spend. Then, awash in insurmountable debt, he finally had to declare bankruptcy.
Read the rest here.
