Sacramento Bee columnist Daniel Weintraub has a simple proposal to remove the complexity of spending caps — apparently the reason the Legislature failed to agree to the Governor’s plans late Friday evening.
Weintraub’s proposal is strikingly simple and effective:
Don’t budget more for next year than you took in this year.
That little change would have been enough to eliminate all the angst, heartache and red ink the state has been suffering since the implosion of the stock market and the resulting downturn in tax receipts.
Weintraub goes on to analyze the effect this approach would have had on California’s budget over the last few years — with surprising results — and has a recommendation for when this approach should be phased into effect.