We find ourselves in the worst economic era of our lifetime. Not since the Great Depression have so many people lost their homes, their businesses, or their jobs.
The downturn certainly began under President Bush, and President Obama's formula for a cure has served to prolong and lengthen the pain. Our Government tells us that there is little or no inflation, and perhaps by the way they calculate it, they are telling the "truth".
But anyone who pays attention when they buy groceries or fill up with gas or pay the utilities KNOWS that things cost more, regardless of what the Government says about "inflation".
As a small business owner myself, I am painfully aware of the impact that the "bail outs" and "fiscal easing" and the historically unprecedented borrowing by the Federal Reserve have had and will continue to have on the prices we pay for everything in the years ahead.
It's not so much that things cost MORE, as it is that the dollars we spend are worth LESS. Remember that when you hear that the price of gold is rising or when you spend nearly $100 to fill your car with gas! And it works the same way when we cash our paychecks. The policies pursued by Washington have resulted in a pay cut for every working person in the country. The numbers on the check may be the same, but the dollars buy less.
On the state level, things do not look much better. California is one of the most expensive states in which to do business. Regulations, taxes, and a generally business-hostile environment have caused many of our job providers to move out of state -- much to the benefit of places like Texas, Arizona and Nevada. When businesses go elsewhere, so does the tax revenue that the state received from them. Likewise, when jobs leave the state, so does the tax revenue that the state received from those employees and their families. This is a terrible cycle that must be reversed.
Therefore, I will advocate and fight for:
1) Improving the environment for businesses in our state.
2) Stop the growth in the state budget. The interest we are paying on our debt already reduces the money we can spend on whatever state project that YOU feel is important.
3) Identifying and reducing wasteful spending.
We are in for some difficult days ahead, but with a little moderation, the shine will return to the Golden State as the economy inevitably recovers from Washington's excesses.