What California Faces
Sacramento Bee columnist Dan Walters lays out the depressing news: What we're seeing is a more intense version of a fundamental conflict over taxes and ...
Sacramento Bee columnist Dan Walters lays out the depressing news:
What we're seeing is a more intense version of a fundamental conflict over taxes and spending that began 30 years ago, ever since voters slashed property taxes by passing Proposition 13 and the state assumed many billions of dollars in burden for schools and local governments.
It's more intense because eight years ago, then-Gov. Gray Davis and lawmakers of both parties squandered about two-thirds of a $12 billion, one-time income tax windfall on permanent new spending and tax cuts, and because the resulting "structural deficit" has been widened by a deteriorating state economy.
The state's fiscal warriors have been itching for a showdown for years, and they may get it this year because a $15 billion deficit projected in the 2008-09 budget may be too big to ignore or paper over with accounting gimmicks and short-term loans, the usual "solutions."
Join the Discussion
After you comment, click Post. You can enter an anonymous Display Name or connect to a social profile.
Are Muni Bonds Being Replaced by Direct Loans?1 day ago
Unrest Continues in Ferguson1 day ago
To Save Money, Cal State Considers Not Accepting Freshmen at All1 day ago
Judges Overturn Gay Marriage Bans in Mississippi and Arkansas1 day ago
How the GOP's Rust Belt Governors Might Fix its 1% Problem1 day ago
New San Francisco Rule Prevents Employers from Changing Worker Schedules1 day ago