[ExI] End of time?

[BillK]

On Fri, Oct 1, 2010 at 9:43 PM, Tom Nowell  wrote:
> Tom's four solutions to California's deficit! (in ascending order of workability)
>


This problem has been much discussed, as you might expect.   ;)

It's complicated, of course.

The basic solution (for the US as well) is to cut spending to match
their income.

Regrettably, the California government system makes hard decisions
almost impossible to achieve. So system reform would be a good idea.

What happened was that California had a property boom and most of
their tax income comes from property taxes. So when government and the
government staff unions saw all that money rolling in, they went
spending crazy. Wages, pensions, benefits, social services, extra
staff, etc. all grew like Topsy. Then the property slump arrived and
tax income dropped. But the newly increased government machine
couldn't be cut back.

Ergo - deficit.


BillK