We have to bring these deficits down very dramatically. That’s going to require some very hard choices.
Treasury Secretary Timothy Geithner • Regarding how they expect to pay for all of those deficits the government’s built up over the last year or so. Expect the teabaggers to freak out even more at this news. • source
-8.3%decline in local and state spending during the fourth quarter of 2008 – the height of the economic decline. The first quarter of 2009 also saw declines source
From the get-go, the governor was very tough in negotiations, and as a result we have a budget that substantially shrinks government. Conservatives have every reason to be overjoyed.
Republican Party officer Jon Fleischman • On California Governor Arnold Schwartzenegger’s hard-line approach to cutting California’s huge deficit. Schwartzenegger, a fiscal conservative, scored a huge political victory with the budget cuts. He closed off multiple roads to closing the gap (higher taxes weren’t an option, really) in an effort to make sure the cuts, in the end, meant smaller government. And he brandished a big knife in the process. • source