Wednesday, February 27, 2008

The future of California??

New Jersey's Governor has unveiled a budget that cuts spending in absolute terms by $500 million from last years budget.

The NJ lawmakers are NOT happy with the budget which cuts spending in all areas, but they no longer have a choice.

California is or will soon be in the same situation. We currently are looking at a $16 billion dollar deficit for this year, which is half over, and a greater deficit for next year. A lot of programs are going to have to be cut because tax increases are not likely. People can say we should just raise taxes, but if the Republicans won't do it (thank goodness, State income taxes is already over 9% of income on top of federal income tax, not to mention sales tax and property taxes), then spending will have to be cut. Government programs are going to have to be consolidated or eliminated and Sacramento will not be able to micro manage each aspect of our lives.
The sooner we start the cutting, the less pain there will be. Its like getting into a cold pool. If you ease yourself in, its painful, but if you just jump in and get it over with, its a shock but its not as painful as the slow entry.

No comments: