Monday, August 11, 2008
Terminator v. the Controller: the Missing $15.2 Billion
The Governator (Republican) has sued Chiang, the Democratic State Controller, to force him to slash government pay until a budget is passed. See
Here is a more detailed article about the budget issues:
Republicans...say even more is needed: a spending cap to restrict annual expenditures through a formula tied to growth in population and inflation.
In California, a 2/3 vote of each legislative house is required to pass a budget. You would think our legislators would be able to figure out a budget cannot get passed without cooperation and civility, but this partisan samba seems to happen every single year. Still, few things make me more happy than government workers talking about cutting spending.
How can someone profit off of this? Perhaps by buying muni bonds or state bonds.
Good luck to Sacramento. I'm going back to work. In my job, I don't get paid for being ineffective, or for missing the same deadline every year. I wonder where I can get a job that doesn't tie getting results to my pay? I'm still scratching my head...I'm sure the answer will come to me later.