Noted PRI Economist Ben Zycher: Failing To Pass Prop. 23 Will Cost Hundreds Of Thousands Of Jobs
When Proposition 1A was "birthed" last year as a part of the terrible 2009 budget deal that gave us the largest tax increase in the history of any state, it was highly respected and noted economist Benjamin Zycher who poured over the details of the so-called "spending cap" in 1A, and came the unfortunate conclusion that the so-called "spending cap" contained in it was very poorly written, and helped us conclude that even without massive tax increases tied to it, it should be defeated. Happily, 1A’s tax increases and faux spending cap were given the heave-ho by the voters.
With the "secret squirrel" budget deal being voted on today, we hear that there is another ballot measure in the works that purports to put forward a spending cap for voter consideration. The question is this: Have changes been made to the language from last year’s 1A proposal that would cause respected economists like Zycher to give it a seal of approval?
The problem with "back room" budget deals is that there isn’t… Read More