As reported in each of the major papers, the Governor’s office is preparing a proposal to “balance” the state budget. It increases the pain and suffering of the poor, the ill, and the unorganized. Even Schwarzenegger recognizes that these will be terrible, painful, cuts.
The major problem is not the coming legislative conflicts, it is the deep, agonizing, unpopular cuts being imposed, including lay offs of sheriffs, teachers, health care workers, child protective services, and the loss of the services which they provided. Neither the government, nor the legislature caused these cuts, they were created by the grand theft on Wall Street. The current economic crisis has forced the cutting of higher education, of k-12 education, and of social welfare systems.
What caused this crisis ? It was caused by the greed and avarice of the financial class and aided by the politicians of both major political parties.
Major banks and corporations looted the economy creating an international meltdown. Now, they have been rewarded with bail out money. The crisis was not caused by students, teachers, public employees nor recipients of social security. The major bankers, finance capitalists in the U.S. robbed the bank last year – and the federal treasury. They took hundreds of billions of dollars – and you and I are being forced to pay for this theft with cuts in jobs and services.
Over 40 states have severe budget problems caused by the Great Recession and there will be more next year. In Oklahoma, Nevada, and Arizona, the cuts are more draconian than in California- and these are low benefit states.
The solution ? Make Wall Street Pay. They caused this crisis. All sale of stocks and derivatives should be taxed 2%. That would pay for the services we need, and limit the Casino Capitalism of the rich and well connected.