January 8, 2010 By Jon Coupal For a decade, California state government has spent more than it receives in revenue. The result? Our state has the lowest credit rating of all 50 states, we rank in the top four in unemployment, near the top in tax burden per capita, and we rank last or close to last in a number of surveys that measure business climate. Not coincidentally, California small business bankruptcies are up 81% over last year. For lawmakers, spending is a compulsion. During the historic recall campaign of 2003, Arnold Schwarzenegger, who correctly labeled the spending problem as an addiction, promised he would be the antidote. His pledge to “blow up the boxes” and bring fiscal sanity to Sacramento led voters to support his candidacy by a huge margin. Sadly, and perhaps predictably, the spending terminator quickly succumbed to a more regional strain of the Beltway fog – some have even likened it to the Stockholm Syndrome where, after just a few months in office, elected o...
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