1. Federal bail-out (both current and future, through bond repayment guarantees; and direct and indirect, through inflation)
2. Increase in CA state taxes (and fees etc) in the present and also the future, through more state borrowing
3. Small spending cuts designed to maximize public pain and scare the public into choosing more taxes instead. [Release criminals before cutting state pensions etc.]
I apologize that this is a near-repeat of an earlier post I made, but the question never dies, even though we know the answer, and it never changes.
The latest proposal from the governor is obviously just one more note in the carefully orchestrated campaign to limit spending cuts. No one in govt really wants to cut govt spending by a large amount, like 25-40%.
