Ellen Brown: California, like North Dakota, is resource-rich. A state-owned bank will allow it to capitalize on its resources to full advantage, by providing the credit needed to realize its potential.
Diane Lefer: Why does it matter? This year, once again, California not only failed to pass a budget by the deadline but delayed it longer than at any other time in our history, causing chaos and hardship for vendors, employees, and municipalities while harming our credit with rating agencies and raising the interest we pay.
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: 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.