Home > posts > California (Once Again) a Microcosm of Govt. Financial Crisis
December 21st, 2010 11:39 am
California (Once Again) a Microcosm of Govt. Financial Crisis

In a not-quite-as-bad-as-reported op-ed in the Los Angeles Times, State Treasurer Bill Lockyer (D-CA), downplays the Golden State’s fiscal outlier status among the several states.  Setting aside some of his premises, it’s worth zeroing-in on a paragraph that should be the starting point for debates on spending at any level of government.

Fiscally, we have to get smarter, think longer and stop hoping for a miracle. Californians have to assume more responsibility for deciding what they want government to do and how much they’re willing to pay for public services. We have to design a saner system for financing public schools.

Like a majority of voters everywhere, Californians are attracted to pricey programs, but are allergic to their costs.  Ergo, budget deficits.  With House Republicans facing a divided Senate and a liberal President, making a commonsense case for balancing spending with revenues will be the single most important task during the next Congress.  Let’s hope fiscal conservatives at all levels of government are united on this front.

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