Amid the euphoria of the present multi-year run and unprecedented expectations, AAPL bulls refusetoconsider factors that can influence and should tip us off about that long-term picture.
The Republicans, who can muster enough votes to block the governor's budget, refusetoconsider tax increases unless they are accompanied by a root-and-branch overhaul of state finances and a mass sell-off of state assets.
But without the spending reforms that Democrats ridicule, demagogue, and refuseto even consider, federal spending would rocket up consistently to 80% of GDP by 2087.