Experts Expound

Experts Expound

“Bills held in both Appropriations Committees, rival interests headed to the number ballot, no money, a lame-duck governor and, in the background, statewide political campaigns. Is the state budget facing Armageddon?”

A sure sign of the meltdown would have been Paul Hegyi winning the World Series of Poker, but luckily he lost on the river.

Yes: We are the next Greece.

Each year we have been told the budget deficit is one number only to find it is another larger one. This year we are told $20B when the reality is closer to $40B according to what Chiang told the Milliken Institute. Face facts, what happened to Greece is going to happen to California and it very well might bring down the country’s economy. Armageddon does not happen because of stupidity — but economic depressions do.

Yep!

Given all the challenges you mention, plus several you don’t, it looks to me more like Apocalypse Now or even Zombieland than Armaggedon.

Yep. Just like last year and the year before. The Gray Davis budgets are looking like the good olde days.

Naw….there’s always NEXT YEAR to dump the problem into…and they will defer as much of it as possible into the future….and into Jerry Brown’s lap.

There is no way out of this mess unless the adults take over, find new revenue – that means raising taxes – and set up a spending plan going forward that takes into account caseload growth, public services, infrastructure investment and the like. The era of free-lunch Republicans is over. Or should be.

Yes, if they go for “responsibility-free budgeting” (see Perez, John). In perfect world … Dems get oil tax, booze fee, withholding. Gov gets pensions rolled back to 1998 and Ashburn budget reform from 08. The state backs away from the cliff.

This is like what is going on in the Middle East….it will never end.  Same stuff keeps happening.  The Republicans get picked off, Phil Wyman is running for office, and tax increase proposals are coming in daily.  It is like 1980, 1990, and 2000.

Let’s eliminate schools, prisons, welfare programs – that’ll solve the budget crisis. Then we can all move to Arkansas. Is anybody really in charge here?

Steinberg’s idea of restructuring and sending costs to the local level will go with the cities and counties unlimited ability to tax in order to pay for welfare and other local expenses. I am eager to see cities like San Francisco and Los Angeles raise taxes enough to pay for all their unionized workers and sanctuary citizens….because those who earn will simply leave. Good on ya, Steinberg!


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