California’s Constitution requires a balanced budget. Sort of. For more than a decade it has been “balanced” only by creative accounting — a fact that should give pause to conservatives, in Washington and elsewhere, who are eager to constitutionalize fiscal policy by putting a balanced-budget requirement in the U.S. Constitution.
-George Will
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Fiscal sanity in California will come as soon as it comes to the rest of the nation: when people realize that social spending needs to be reformed. People would rather live in Disneyland, though, than the real world, imagining that they can spend more than they make. What a foolish dreamland we have slept ourselves into!
ReplyDelete"Fiscal sanity in California will come as soon as it comes to the rest of the nation" We might precede the rest of the nation, since we'll undoubtedly crash and burn before the rest of the US.
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