4:56 PM yesterday
gloomy gus commented on
Gov. Gregoire Opposes "All Cuts" Budget.
@9, that's an interesting premise. California GSP last year was $1.8 trillion. Yet their finance people are terrified by that state's (by your measure puny) $21 billion deficit projection.
I believe they're freaking because as a practical matter taxes can only get raised or reformed by skittish legislators or drawn-out citizen initiatives. While at some point state legislatures will buckle down to the task they're stuck with, the question is, will they have many options left if they wait too long?
2010 will bring another big round of mortgage recasts, and not much relief around housing prices or business credit availability. Voters are getting thoroughly sick of being used to being scared of losing their employers and homes.
While that's not the standard recipe for a political climate friendly to progressive tax reform, maybe in the end only real desperation can force the issue.
1:42 PM yesterday
gloomy gus commented on
Gov. Gregoire Opposes "All Cuts" Budget.
The outgoing finance director of California was quoted as saying he looked hard at whether his state could declare bankruptcy, or find some clause of the U.S. Constitution that would allow California to return to territory status.
I wonder if there's something here, if we can get at it, some new paradigm for stimulus that can help states keep providing services through this nightmare.
1:02 PM yesterday
gloomy gus commented on
SL Letter of the Day: Hot & Drunk.
Don't bother babying him into rehab, either. Rehab only works the first seven times, or until your insurance runs out, whichever comes first.
12:21 PM yesterday
gloomy gus commented on
SL Letter of the Day: Hot & Drunk.
And please hurry. Don't let this drag on a moment longer. Fucking an untreated alcoholic more than a couple times can have a long-term mindbending effect. Run.
9:23 AM yesterday
gloomy gus commented on
Becoming a Man.
I wish him all the publicity he could ever want, and all the continued support his mom's handlers can lend.
I believe they're freaking because as a practical matter taxes can only get raised or reformed by skittish legislators or drawn-out citizen initiatives. While at some point state legislatures will buckle down to the task they're stuck with, the question is, will they have many options left if they wait too long?
2010 will bring another big round of mortgage recasts, and not much relief around housing prices or business credit availability. Voters are getting thoroughly sick of being used to being scared of losing their employers and homes.
While that's not the standard recipe for a political climate friendly to progressive tax reform, maybe in the end only real desperation can force the issue.