Saturday, December 25, 2010

California's state treasurer believes their situation is greatly exaggerated

Here is the money quote in Bill Lockyer's (the state treasurer) LA Times article which attempts to convince readers that California is really not that bad off.

"Our critics say we are addicted to spending. But the numbers show that isn't true. Thirty years ago, general fund expenditures totaled about $7.43 for every $100 of personal income. In the 2009-10 fiscal year, that ratio was almost $2 less, at $5.52 for every $100 of personal income. In the current fiscal year, per capita general fund expenditures will total $2,246, less than the $2,289 spent 10 years ago and roughly equal to the inflation-adjusted level of 15 years ago."

California's demise is greatly exaggerated -

Tuesday, December 14, 2010

The Tax bill that does nothing but increase the debt

The new tax bill will add about $1 trillion to the deficit over the next two years.

Readers who thought the November elections were all about voters signaling Washington to stop spending, this bill is a clear refutation that politicians heard us.

But will it stimulate the economy? In a word, no.

Sunday, December 12, 2010

The Good, the Bad, and the Ugly of the Tax Deal | Cato @ Liberty

The Good, the Bad, and the Ugly of the Tax Deal | Cato @ Liberty:
"The burden of government spending is going to increase. Unemployment benefits are extended for 13 months. And there is no effort to reduce spending elsewhere to “pay for” this new budgetary burden."

Because of the election results, I am disappointed that it is not the Republicans who vetoed this bill. In what reality are we still passing legislation that increases the deficit?