Public Eye: California’s Worsening Budget Crisis: The Second Shoe Drops
It’s understandable that Californians breathed a sigh of relief on Feb. 19, when the state Legislature ended months of political gridlock and agreed upon a $144.5 million budget. Given America’s hard times, it’s likely that many Golden State residents turned their attention to pressing financial concerns such as holding onto their job or paying their mortgage. Nonetheless, Californians’ behavior is problematic because the issues that precipitated the fiscal battle have not been resolved and another serious problem has emerged: the possibility of an immutable spending cap. -more-