Every time I hear a liberal talk about the state budget I keep wondering whether their psychotherapists have been maintaining their valium dosages too high. Cutting spending hurts the economy? Folderol. Taxes hurt the economy. Forcing people off the dole and requiring them to provide for themselves helps the economy.
Maybe this esteemed economist is worried about losing her own job due to UC budget cuts. Well, then, yes, she is right -- budget cuts will hurt her personal economy. Tough sh-t.
And, lest anyone forget why California is in such trouble, I repost here the budget facts about the state starting with four years ago, when Gray Davis and the Democrat-dominated legislature assumed control.
The facts about California’s budget problem:
- Budget when Gray Davis took office in 1999: $53 billion
- Budget needs today (FY 2003): $100 billion
- Tax receipts, FY 2003 (forecast): $70 billion
- Growth during Davis’ term: 100% or 20% per year. Note that upon Davis’ election, the Democrats finally had control of all three branches of California’s government for the first time in 40 years.
- Had the budget grown consistent with inflation and the increase in population, the budget would be $65 billion (21% increase over four years, or 5% per year) and California would have a surplus of $5 billion.
California Democrats have spent like drunken whores who just chanced upon a pirate treasure. And, now that they are destitute, let them wallow in their own profligacy.
Thank you!