Show Your Anger by Voting Yes on May 19
May 12, 2009
by Webmaster
Show Your Anger by Voting Yes on May 19
California's dysfunctional state government
and our chronic budget crisis are beyond inexcusable. The majority of voters are justifiably angry
about taxes and elected officials seem to be unable to effectively plan for
the state's fiscal future. That
sentiment is reflected in the latest polls showing Propositions 1A-1E headed
for defeat. But taking out our
frustrations on these initiatives is the kind of self-flagellation that will
deepen the crisis and prevent the reform we dramatically need.
As I
wrote last month, the Los Angeles Area Chamber of Commerce — together with nearly
every business organization in the state — is urging support for the package of state
budget initiatives on the May 19 special election ballot. There are no perfect short-term fixes for the
disastrous financial condition that California is in, but these ballot
propositions go a long way toward avoiding a fiscal catastrophe and putting in
place the kind of reforms that will avert a similar crisis in the future. Most notably, Proposition 1A will significantly
reduce spending by establishing a long-sought spending cap and requiring the stockpiling of revenues from good years in a substantial "rainy day" fund to mitigate future economic downturns.
These reforms are just the
beginning of what is necessary. But they represent an important first step because we all know that
controlling expenses and having a savings account to draw on during hard times is
essential to every budget, including our family budget at home.
Both proponents and opponents of
the May 19 ballot propositions agree that the state's fiscal condition is a
mess and must be dramatically reformed. Some opponents urge the voters to teach the state a lesson and if
necessary, force a bankruptcy. Other
opponents believe that the current budget cuts have been too dramatic and the solution
is to put new, permanent tax increases into place. The L.A. Area Chamber Board of Directors cannot embrace either of these two recommendations. We understand and share the anger of the
voters, but we do not believe that either of these alternatives is in the best
long-term interest of our state, its residents or its businesses.
By saying yes to Propositions 1A-1F, we can begin the process of fixing our broken
system and hold our politicians accountable. Please join us in spreading the word to vote YES on Propositions 1A-1F
on May 19.
And
that's The Business Perspective.
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