Governor Schwarzenegger’s tax increases have already failed

“The Legislature’s budget analyst, Mac Taylor, declared today that the immense package of spending cuts, new taxes and loans aimed at closing the state’s $40 billion budget deficit will fall short by $8 billion because the state’s economy is continuing to falter,” according to the Sacramento Bee.

In a speech Thursday before the Commonwealth Club of California in San Francisco, Schwarzenegger called the package of six ballot measures “the agreement that ends the current budget deficit and changes our approach to budgets in the future,” according to the L.A. Times.

So there you go.  Governor Schwarzenegger’s campaign to raise our taxes is for naught.  The package of proposals, led by Prop. 1A, isn’t going to be enough to save our state budget after all.

Maybe NOW it might be time to start cutting waste in Sacramento?

Taylor had some more bad news for the state’s political leaders. Because so many of the “solutions” adopted last month are temporary, “without corrective actions, the state’s huge operating deficits will reappear in future years – growing from $12.6 billion in 2010-11 to $26 billion in 2013-14.”

What a mess.  And neither the Republicans nor the Democrats have a clue that cutting waste is the only way to resolve this disaster.

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"Admin" is just editors Vern Nelson, Greg Diamond, or Ryan Cantor sharing something that they mostly didn't write themselves, but think you should see. Before December 2010, "Admin" may have been former blog owner Art Pedroza.