Hand it to Democrats, particularly those in California. One of the great bits of political jujitsu in recent years was to portray Republicans, not themselves, as the party of tax-and-spend. Now, with control of both Congress and California's state house, they're showing their true colors, says Investor's Business Daily.
- Democrats have boosted general spending 32 percent in just four years to $103 billion, or 8 percent a year.
- This increase occurred despite going through the worst financial crisis in its history only 4 years ago.
- Revenues, though growing rapidly, haven't kept pace; if spending had grown just half as much -- at a still-healthy 4 percent -- the budget today would be in balance.
This has been a fiscal disaster. Over the next year and a half, California's nonpartisan Legislative Analyst predicts the state will have an unprecedented $16 billion budget shortfall. Pretty nasty, considering just last summer the state predicted a surplus.
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