WSJ’s John Fund: “Jerry Brown’s Tough Odds”
From today’s Wall Street Journal Political Diary E-mail…
Jerry Brown’s Tough Odds Jerry Brown, who will once again serve as California governor next month after a 28-year absence, is sending signals on how he plans to deal with the state’s budget crisis. As expected, higher taxes are in the cards. Step One is the usual post-election revelation of the true extent of the problem, which is always downplayed before the vote. "What we’re looking at today is much worse than it’s ever been before," he told an audience of local officials recently. His best estimate of the state’s deficit over the next 18 months is $28 billion, which is larger than annual state spending on prisons,… Read More