Adam Eran: The real outrage is that private banks receive far more money than any social safety net program would need, but the proposed cuts impact only safety net programs.
Adam Eran: In the wake of Reagan’s policies, although it was previously the world’s largest creditor, the U.S. became the world’s largest debtor. Now we have a middle class economically eviscerated by the lost equity in their homes, who tapped this equity during the housing bubble to sustain their consumption.
Adam Eran: Waiting for a race of cyborg/celebrity super-teachers distracts from the egregious income inequality and the childhood poverty that worsens educational outcomes in the U.S.
Adam Eran: So the origin of California’s tax reductions, and even its current budget deficit, is arguably oil price inflation. If we want a stable economy, and government without deficits, we need to stop kidding ourselves that spending is a the root our budget problems, and attend to our energy addiction.
Adam Eran: Consume-atives proclaim we should cut something but seldom propose anything specific. The plan is for bankruptcy court to sort that out, rather than making consume-atives a target for blame. “Take 10% off the top” is another, meaningless Republican proposal in recent budget negotiations. What does that mean, though? Let 10% of the prisoners out? Only treat 90% of the sewage?
Adam Eran: The acute problem of the Gulf oil spill makes the cost of corruption-afflicted government front page news. Lax Federal offshore drilling oversight under Bush 43 has cost us dearly. However, our society’s vulnerability to any trouble with this critical resource should also remind us of the chronic problem: peak oil.
Adam Eran: Tax cuts caused the current budget deficit, not crazy spending. Local government revenues fell 57% after Proposition 13. Even more egregious, the consume-atives™ (they do not conserve), now complain that State funding for local governments to fill that revenue hole meddles too much in local affairs.
Adam Eran: Appropriately for April Fool’s, Republican California Assemblyman Roger Niello’s editorial appears in the Sacramento Bee protesting California’s public policy response to climate change (AB32). As evidence that AB32 is misguided, he cites the discredited Varshney study and the similiarly biased California Manufacturers and Technology Association (CMTA) oil-industry-funded study of AB32.
Adam Eran: Niello apparently believes government’s taxes, spending and regulations never produce any real benefit; they only kill jobs. Never mind that better regulation would have prevented the sub-prime meltdown that has sent our economy into a tailspin, or that taxes have been cut for the last 30 years without any unusual upturn in the economy.
Adam Eran: Niello’s hearing is yet another bit of evidence that, no matter what the facts, the Republican narrative remains constant: We must reduce taxes and regulation, even if lack of effective regulation produced the current less-than-optimum outcome. And although “deficits don’t matter,” no matter how low they are, taxes are too high, especially on the wealthy.
The shrill attacks on government spending — “it’s always wasteful! it *never* invests!” — have already begun. The anti-tax crowd has begun its triumphal victory dance, spinning the defeat of proposition 1A’s rather modest extension of taxes as an endorsement of their prejudices. But this is one voter who turned down the convoluted logic of [...]
“Men…think in herds; …go mad in herds, while they only recover their senses…one by one.” — Charles MackayRepublican Assemblyman Roger Niello‘s recent editorial “Performance Based Budgeting Deserves a Look,” is his bid to appear as a man who has recovered his senses. In it, he reminds us that California’s state budget process is imperfect. The [...]
by Adam Eran – The Census Bureau reports that California ranks 10th among states in income, but only 22nd in tax burden. Nevertheless, the Republican mantra has been that higher taxes are so damaging that government should avoid them at all costs — especially in downturns like the current one. This sentiment is so pervasive [...]