CRP Blog

Monday, March 17, 2008

Governor Meets with Local Officials, Promotes Budget Reform

Governor Schwarzenegger continues to promote critically needed reforms of the budget process. The state would not be facing its current massive budget deficit if his proposals had been enacted earlier -- clearly, controls on state spending are needed.

The Governor and Republican legislators recognize the need for stability in state spending, in contrast to the wild "feast or famine" approach that has led to big increases in government programs when a strong economy drives tax revenues up, and deficits when the business cycle brings those revenues either down, or just stable.

The Governor's proposal would stabilize state spending so drastic budget cuts will not be necessary in future years. It accomplishes this through a cap on increases in state spending, and diverting a portion of revenues in prosperous times into a reserve fund that can help sustain critical state programs when revenues decline below projections.

For more information on the Governor's plan to stabilize California's budget visit:

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