CA Won’t Fix Budget Without Spending Cap

In a new column, Reason Foundation’s Adam Summers takes a look at California’s $16 billion budget deficit and writes, “Despite what some lawmakers would like us to believe, this is a budget crisis borne of an addiction to spending, not a revenue problem. In the past four years, the state’s general fund revenues have increased approximately 32 percent. In fact, total revenue has grown steadily since the early 1990s, shortly after major tax increases were imposed under Gov. Pete Wilson’s administration. Legislators intent on trying to solve their spending problem on the backs of taxpayers through tax increases would be wise to take this lesson to heart, especially considering the ongoing housing crisis and threat of economic recession.” Reason’s California Research and Commentary