Wednesday, November 28, 2007

Be Careful for What You Wish for....

I think Kevin Drum over at Washington Monthly nicely sums up the predicament regarding the state budget shortfall for next year. How a manageable $3 billion dollar shortfall has now turned into a $10 billion shortfall.

Democrats deserve blame for mismanaging California's budget in the early 00s, but it's hard to overstate just how irresponsible and infantile Schwarzenegger and California Republicans have been since then. In 2003, in the middle of an existing budget crisis, Schwarzenegger ran a demagogic and pandering campaign based on cutting California taxes by $4 billion. Then, to fix the shortfall this caused, he supported the 2004 bond measure. The net cost to the state of this GOP flight to fantasy now adds up to $7 billion per year.

If it weren't for Schwarzenegger and his fellow GOP tax fanatics, next year's projected shortfall would be $3 billion — or possibly even less. That would have been manageable. Instead we careen from crisis to crisis thanks to the government-by-temper-tantrum practiced by modern California Republicans. Thanks a lot, guys. [Link]

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