California’s IOUs
Mckenzee McCammack
California lawmakers are spending money without having a concrete budget to divvy out who gets what. There is a $19 billion deficit and it seems that no one knows exactly what to do about it. Prior to this stalemate, there was a 78-day record held by the current Legislature in 2008 in which there was a late passage of the budget. Now, in 2010, California faces the same problem. While many people try to point fingers, there is another legal problem with passing the budget: the 2/3rds rule. This rule was set up by the California framers in an attempt to prevent tyranny of the majority. This marks only the second time since the Great Depression that California has had to issue IOUs to find an alternative way to save money. However, since the fiscal year, beginning July 2010, Governor Schwarzenegger met with the Legislature for a three hour meeting, the longest budget meeting this summer, to try to come to a bi-partisan agreement.
- Stalemate: Inability to come to an agreement.
- Legislature: The body of elected, California representatives who come together to vote on issues relating to their district and the state as a whole.
- Tyranny of the Majority: The majority’s interests bypassing the interests of the minority because of size. This idea began in America with James Madison who feared the return of a kingship.
- Bi-partisan: The idea of two political parties putting aside political differences to come to an agreement or meet on a common platform.
Additional Reading:
http://www.wikio.com/article/72184610
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