Suddenly, the city of Tracy's $9 million projected deficit doesn't sound so bad. Not considering the "fiscal Armageddon" staring the state of California in the face.
The state's shortfall of $15 billion this year looks bad, but the 2010 deficit projection of a $40 billion (yes, with a "b") if no action is taken is downright frightening.
Makes one wonder what the folks paid to wisely spend taxpayer money are doing. Actually, I take that back. There's little left to wonder about. These legislators are obviously doing two things:
1. Spending too much money in a deluded belief that years of record revenue growth will continue forever.
2. Actively avoiding the reality that taxes must be raised to maintain the level of social services Californians are used to or that these popular services must be wildly slashed.
Unfortunately, these two things are exactly what's driving us toward the governor's vision of apocalypse. The picture isn't pretty.
In fact, our situation in Tank Town looks downright rosy in comparison. Although it's a sign of how bad things are when a $9 million budget shortfall passes for fiscal strength.
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