Ivan Eland: To keep with the bipartisan spirit after the Gabrielle Giffords’ assassination attempt and also to avoid partisan fighting over spending priorities, which will bog down and probably eventually kill any significant budget cuts, all government programs should be cut by 15 percent from last year’s budget level, including heretofore sacred defense and entitlement programs.
Ron Wolff: So, will someone please explain to me how CEOs getting wealthy and average workers being cheated out of hard-earned wages is part of the American dream?
Robert Reich: The Fed’s decision Tuesday to keep short-term interest rates near zero is no surprise. What’s odd is its apparent decision not to boost the economy by buying hundreds of billions of bonds — despite its acknowledgment that ”the pace of recovery in output and employment has slowed in recent months,” and that prices are rising too slowly for comfort (i.e., we might be facing deflation).
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.
Randy Shaw: The Republican Party and Democratic so-called “deficit hawks” attack any proposed defense cuts as “job killers.” Yet this alliance refused to save the jobs of hundreds of thousands of teachers, and have backed tax and spending policies that have cost the nation millions of jobs in recent years.
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.
“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 [...]