This columnist thinks California is in big trouble. The fix? Kill Prop 13!

By Noah Smith, Bloomberg Opinion
Ten to 15 years ago, pundits liked to speculate that California was on the verge of becoming a failed state. In the early years of the new century the state suffered widespread blackouts thanks to a botched deregulation of its electricity market. Meanwhile, with long-standing ballot initiatives requiring a legislative supermajority to pass tax increases, and education expenses ballooning, the state’s budget seemed permanently mired in the red. Arnold S