Sheila Kuehl: Over the course of 2012-13 and 2013-14, the Governor, even with the low revenue projection, allocated $1046 more per K-12 student than before.
Joseph Palermo: The debt ceiling gambit that Republicans in the House of Representatives have used to tie the U.S. government in knots in recent months is simply the California GOP’s tactic writ large.
Joseph Palermo: Jerry’s triangulating. He’s aligning himself with the Republican minority in forging a path forward out of California’s deep crisis.
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.
The California State Senate adjourned at midnight, unable to pass three stopgap bills that would have saved the state $7 billion. To appease Governor Arnold Schwarzenegger, the Democratic leaders of the state legislature hastily drew up the three complicated bills to try to stave off fiscal collapse and the necessity to begin issuing IOUs. All […]
This Week’s Newsletter Here Does the Obama Plan for Reforming Wall Street Measure Up? —Robert Reich California Democrats: “Spreading the Pain” from Sacramento —Joseph Palermo Black Victims of ‘Don’t Ask Don’t Tell’ —Herndon Davis The Italian Job: Border Police Seize $134 Billion in US Government Securities —Charley James From Analog To Digital: Nothing’s Free Anymore […]
Resolving our fiscal crisis will require many very difficult decisions, but our guiding principle must be constructing a budget that is least injurious to the most vulnerable. While we will have to take quick action to avoid the state sliding into insolvency, we must take that action in a thoughtful manner minimizing the potential permanent […]
Immediately after the election, the Governor announced that the “voters had spoken” and that the defeat of Prop 1A “clearly” meant that Californians stood adamantly against any new taxes or fees. He must have been reading the leaves in the bottom of his tea cup in order to come to a favored conclusion, however, because […]