California’s budget crisis could have ripple effect

After a record past due, California legislators finally came out with a compromise yesterday regarding our state’s budget.  Those who advocated for no extra tax seeming to be on winning end of this deal; however, we still have to wait and see if the governor is going to approve the latest compromise.  Although this will fix our budget temporarily, in a long run, we are more likely to face similar problems unless the systemic problem is fixed.  Perhaps this might be time where voters need to step in and fix how our state budget is handled.  With the 2/3-majority rule, we are more likely to be facing similar problems year after year.  Cutting from education and other important social services might not be a way to keep our local economy going.  It is important to understand that education is the backbone of our economy.  Globalization has made education one of the most important assets to have in order to have sustainable economy. 

California is the worlds 5th largest supplier of food and agriculture.   It is understandable that our economic crisis will have a ripple affect towards the whole nation.  I spoke with most of my neighbors who were worried about their pay being cut the federal minimum.  Temporary and contract workers have already felt the budget crunch, as they were the first to receive pink slips.  Just as we thought the mortgage crisis is about to get better, having such issues is disturbing. .

California voters need to think hard work towards fixing our budget issues before our budget deficit gets even bigger! 

California’s budget crisis could have ripple effect