Lt. Gov. Gavin Newsom thinks something is wrong with the economy of California. Yah think? Newsom says "For more than 10 years, the state of California has lacked a strategic, statewide economic plan. And in the last decade, we have reaped the bitter consequences." Lt. Gov's are mostly known for their ability to be invisable so it isn't too suprising to see Newsom try to get a little attention for himself, but only those who don't want to see the obvious can believe California's economy is doing well. Newsom has come up with what he calls "An Economic Growth and Competitiveness Agenda for California" which says that overreaching laws, regulations and taxes are retarding the economic recovery.
We could suggest a couple of things that would help the economy get going: 1) Make sure farmers get 100% of their water for the forseeable future. 2) Begin a coherent energy policy that includes drilling for oil. Since farmers are one of the few groups left in the country who actually produce something, it would be smart to make sure they produce as much as possible and employ as many people as possible. And since we're not going to power this country to prosperity with wind mills and solar panels it would be smart to admit we need a real energy policy. The enviros who oppose these water and energy policies have had thier way long enough and we can see where it's got us. It's time for real hope and change.
Hey! I have an idea for the enviros and legislators in California! Since you can't lead or follow, try to Get Out of the Way!
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Walters: Newsom offers new twist on old California tale
By Dan Walters/Sacramento Bee
As the nation's last space shuttle was making its last landing for its last mission last month, Lt. Gov. Gavin Newsom, was finishing up a report on jump-starting California's recession-stricken economy.
Therein lies a tale.
About 40 years ago, then-Gov. Ronald Reagan created a high-profile job for his handpicked lieutenant governor and putative successor, Ed Reinecke chairing the Economic Development Commission, with its main mission to secure the space shuttle for California.
Reinecke didn't last very long. In 1974, he became ensnared in an offshoot of the Watergate scandal. He was indicted for giving false testimony and forced to resign.
A year later, Reagan's successor, Jerry Brown, tried to abolish the Economic Development Commission as a waste of money. But then-Lt. Gov. Mervyn Dymally lobbied the Legislature to keep it alive, and it survived for several more decades, albeit without ever having any noticeable impact.
Brown is back in the Capitol for his second stint as governor, and fellow Democrat Newsom has an office just a few feet from Brown's digs. As usual, it might as well be 100 miles away. And with almost no official duties, Newsom, like his predecessors, is creating his own niche in hopes of remaining politically visible.
Hence, "An Economic Growth and Competitiveness Agenda for California," which Newsom unveiled last month.
"For more than 10 years, the state of California has lacked a strategic, statewide economic plan," Newsom declared. "And in the last decade, we have reaped the bitter consequences."
Is California's stubborn recession a "bitter consequence" of not having an economic plan? Have we become "the perfect job- killing machine" that a blue-ribbon commission declared? Or are we just feeling the impact of a cyclical recession that will pass in time?
There's no consensus among economists, much less politicians, on the state's economic malaise and what, if anything, could be done to cure it.
Brown seems to think that prosperity is returning, albeit slowly. In fact, he's banking on it, having "balanced" the budget this year on an assumption that the state will see a multibillion-dollar surge of revenues.
Newsom appears, rhetorically, to have cast his lot with the mostly conservative critics who say that overreaching laws, regulations and taxes are retarding the economic recovery.
However, other than reopening the state's overseas trade offices, which were closed because they didn't do anything, Newsom offers few concrete steps.
If the report serves any purpose, it may be to kindle the debate that California has needed to have for a long time, to wit: What is our future in a highly competitive global economy, and what do we need to do to make a prosperous future a reality?
(E-mail Dan Walters at email@example.com.
Today's economic news:
California's New Budget Already Facing Shortfall - L.A. Times
California Shortfall Hints At States' Woes - Wall St. Journal
California Budget Gimmickry Falls Short - Sacramento Bee
California Pension Funds Stung By Stock Market Decline
California Tax Revenues Plunge, Deep Cuts To Schools Could Be Triggered