Sunday, September 29, 2013

California - too big for Fox news BS?

I enjoyed this article by comedian Bill Maher, where he touts California's economic turn around.  Just a few months ago, California was in the same shape as Illinois, headed toward a financial cliff of their own making.  They have embraced the entire Democratic agenda, and voted out almost all of the Republicans.  How have they performed this economic miracle?  They raised taxes, and cut spending, at the same time!  What a radical concept.

Maybe this is something Illinois should embrace?  We have raised taxes, but cutting state spending at the same time?  We should try it.

1 comment:

Jonathan Bean said...

I read the piece and the only empirical evidence it had was what other sites have touted: CA has balanced its budget. See also

http://www.mercurynews.com/bay-area-news/ci_24565538/stunning-turnaround-california-has-budget-surpluses-far-lao

and

http://www.nytimes.com/2013/01/11/us/california-balances-its-budget.html?_r=0

Peter, how on earth is "balanced budget as far as the eye can see" the "agenda" of the Democratic Party or the GOP? This is a model for the feds? Ha ha ha. Good luck with that. Jerry Brown has rediscovered old-style paleoconservative balanced budget is the way to go. Hmmm

Since that is the only thing left-liberals are extolling (Obama apparently doesn't know it is the "Democratic agenda"). Here is a more nuanced look at some of the gimmicks to balance and a hedging on whether taxes will drive high earners out (too soon to tell). If, as this article suggests, part of the turn around is due to the reflacting of the housing bubble..that is worrisome. That is what got us into this national mess. http://www.realclearpolitics.com/articles/2013/06/25/calif_comeback_jerry_brown_leads_a_turnaround_118943.html