Fiscally, the State of California is on life-support. The core functions are barely funded and nothing much is being done to address the tsunami of debt and deficits that have severely weakened our economy and our sense of well-being

◼ California’s Three Trick Pony - Andy Caldwell/Fox&Hounds

You would think in the midst of cities and counties declaring bankruptcy that our leaders in Sacramento would put their collective minds together and come up with a plan to ameliorate the dire situation we find ourselves in. Well, in some ways, they have!

Sacramento is a three trick pony when it comes to paying the bills: raise taxes, borrow money, and steal money. Unfortunately, most Californians are woefully ignorant of how often our state government has reached into their bag of tricks and just how much damage has been done as a result.

With respect to taxes, California, in virtually every category, has the highest tax rates in the nation! This hurts families and business and prevents our economy from growing. Low tax states like Texas actually saw their economy grow during this so-called recession, in fact, they gained as many jobs as California lost. Taxes and Texas make a difference in our ability to create and retain jobs. Companies and families are leaving California and taking their money with them.

With respect to borrowing money, every time the state of California sends out an unemployment insurance check, they are doing so on borrowed money. We owe the federal government over $10 billion. Moreover, California owes billions in bond payments. Voters have passed bonds not realizing that this money must be paid back, with interest, and that the payments encumber the state’s general fund....

This editorial was first published in the Santa Barbara News Press.