CA: Taxes, cuts, borrowing strategy to solve state budget woes

Sac Bee ^ | 5/13/03 | AP - Sacramento

[NormsRevenge]

Gov. Gray Davis will propose solving California

[NormsRevenge]

Ping

[Pubbie]

Thank God California has ALL those millions of illegals who will boost the economy by doing the jobs Americans won't do...

[goldstategop]

This budget is based on Enron accounting. Its not even a responsible budget. It doesn't cap future spending or pay off bills already due. And if Republicans are foolish enough to vote for it, they're advised to look for other work.

[Thud]

The too-short 6-year term limit gives legislators overwhelming incentives to move painful solutions to problems downstream to after they're termed out.

The people of California don't want a state government and got what they wanted.

[Amerigomag]

Davis is also ready to increase sales taxes to finance a portion of the debt

If any new taxes makes sense this is among them.

A sales tax reduces the redistribution of wealth in that it taxes the poor and wealthy alike. If California is going to continue to encourage and welcome Mexico's poor, California is simply going to have to start taxing these immigrants.

A shift from productivity taxes to consumption taxes would be welcomed. But alass, this governor and legislature want to increase both.

[concentric circles]

California’s deficit was caused when lawmakers did not respond quick enough to a big drop in tax collections over the past two years...

Is it humanly possible to soft pedal the dereliction of sworn duty by elected officials any more than this example by the Sacramento Bee? These officials, lead by the governor, went on a monumental spending binge, like there was no tomorrow, no need to think of the future, no need for responsible foresight, and the Bee portrays it as nothing more than poor reflexes. A little time at the gym and we'll have this budget licked in no time flat.

And as long as we're laughing along with the Bee at this little light opera, how about this zinger, treated like it's just another song from the chorus: ...while revenues have met projections, spending is more than $2.6 billion greater than January estimates. What's the first thing you do when you find yourself in a hole? Stop digging you say? These people are absolutely clueless, except for one thing, they know they won't be held accountable. And that's no joke.

[undeniable logic]

At the heart of his new budget plan will be a proposal to reduce much of the state debt by borrowing as much as $10 billion.

Interesting ... they are going to borrow their way out of debt? I wish my finances worked the same way! (I think they probably meant that California would reduce much of its deficit by borrowing)

[Thud]

You said, These people are absolutely clueless, except for one thing, they know they won't be held accountable. And that's no joke."

The legislators aren't clueless. Term limits are so short that they know they can't be held accountable.

It's the people of California who are clueless. They think term limits help them.

[Ernest_at_the_Beach]

News conference , today Wednesday, by the Governor on the DEAL!!

calgov2002:

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[Lancey Howard]

The new budget plan, expected to total about $100 billion, is vastly different from the budget Davis proposed in January, which relied much more heavily on program cuts to eliminate California’s record $35 billion shortfall.

LOFL!!
Flee.
To any working, traditional American family remaining in California....FLEE! Flee NOW!
Don't end up like those poor suckers who hung around too long in Zimbabwe.

Best of luck,
LH