“By all accounts — from the governor, the LAO, the legislative experts, even the media — yet another state budget debacle is looming. How should state policymakers deal with the meltdown?”
They should all hope to get an appointment to be the next Lt. Governor of the great state of California and let someone else deal with it. Or they could declare bankruptcy and hope that the judges are kind.
They should sell any state issued bonds they personally own before they become worthless.
Suck it up and make the tough decisions instead of punting it to the next Governor and Legislature. Termed-out legislators and governor need to be bold for a change.
Flee the state as quickly as they can!
Why don’t you just ask us how to achieve peace in the Middle East? That would be a hell of a lot easier.
Your question assumes state policymakers CAN deal with the budget crisis and impending insolvency. The fact is they CAN’T — they’ve proven that time and time again. Does the submerged Tolerance Center give us a clue?
For a start: Raise taxes, invest in new business, go through UC with a fine-tooth comb, approve oil severance levy, elect a strong governor.
They should start by actually reducing spending now and in the out years, not just being proud of reducing the rate of state spending growth.
Do what they are supposed to do: show some leadership and make the tough decisions.
They need go into a big room and work through a solution — one that ignores campaign contributions and party line differences. Then they vote anonymously. If they weren’t worried about their next election, they could come to an obvious solution fairly quickly.
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