No, really, how bad could it be? How seriously should we take the state’s latest budget crisis if a clutch of lawmakers, including the chairwoman of the Senate Budget Committee, is spending the emergency session in India?….
But far from India, Georgia and wherever else elected officials are spending the waning days of the special session, back in Sacramento, in the governor’s Department of Finance, at the Legislative Analyst’s Office, among those who watch unemployment figures and cash flow, there is a palpable anxiety. In some offices, it borders on panic. Past meltdowns have been disguised by a healthy economy. This time it is different.
California is a disaster on wheels. The major problem in this state is its system of ballot initiatives which permit various well funded special interest groups to do incredible damage to the state. Some of these initiatives have hamstrung the ability of the legislature and governor to effectively run the state and keep it on a sound financial footing.
The unhappy truth is that (as the op-ed notes) we are gong to have to impose deep cuts in spending AND raise taxes to keep the state solvent. Both courses of action are anathema to various far left and right wing groups that back the two parties. Right now I think California is effectively ungovernable and I see bankruptcy in the future.
Under the mercy,
[url=http://ad-orientem.blogspot.com/]John[/url]
An [url=http://www.youtube.com/watch?v=Gj4pUphDitA]Orthodox [/url] Christian
I would like the LA times to accept some responsibility. How many times have they asked govenment to spend money that government did not have. Papers want to drive government response, maybe they should shoulder some of the blame for wasted money spent? Just a thought.