Budget Update
With the bulk of the budget completed but final negotiations in the Capitol at a standstill, it is now more important than ever to take a serious look at reforming our broken budget system.
Earlier this month, I voted to support roughly $7 billion in budgetary cuts to help solve our immediate budget shortfall, but the truth is these measures just do not go far enough to address the structural budget reform California desperately needs.
The remainder of the current budget relies too heavily on future tax increases and does nothing to prevent the abusive budget practices that continue to plague our state. In its current form, the plan actually increases spending by $26.5 billion over the next three years and includes $55 billion in total tax hikes over the next five years.
Californians deserve much better.
It is beyond irresponsible for Democrats to seek to raise taxes and rely on revenues that may never come when Californians overwhelmingly voted 'NO' on the budget initiatives in May 2009. We should all agree this is the wrong time to raise taxes on families and rely on yet another bailout from California taxpayers.
Making these tough decisions is painful for everyone, but we must achieve a higher level of budget cuts if we are going to responsibly close our ballooning deficit. For far too long Sacramento has spent too much of the people's hard-earned dollars on programs it simply cannot sustain.
The budget must go further to close our state's $25.4 billion dollar deficit and ensure the state will live within its means, preventing future budget catastrophes.
Our first priority should be private sector job growth. That, in combination with pension and regulatory reform and a strict spending cap, is a start in helping solve our state's out-of-control budget crisis.
Now is the time to enact serious, long-term solutions that will not only prevent future financial meltdowns, but will allow California's economy to recover.
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