I suspect his proposed reforms are close to the mark. My only concern is whether the political will exists to accomplish them. My evaluation is "not yet."
Given a Governor and Legislature all from one party, and that party being the Democrats, I suspect what will happen is mostly raising taxes along with some minor cuts in spending. The political analogy used to describe this approach is "kicking the can down the road."
The result of even higher taxes will be more tax payers leaving the state while more "tax eaters" enter the state. In other words, COTTonLINE expects things will have to get worse before they can get better.
Given California's electoral balance, I can't see a solution short of bankruptcy, and as yet no structure exists for states to declare bankruptcy.
