California Voters Immediately Rewarded For Voting Down Propositions 1A Thru 1E

It's not often that votes for fiscal sanity have an immediate positive payback, but I am pleased to announce an exception. Please consider California elected officials' pay to be cut 18%.

A state panel this morning slashed the salaries of elected state officials by 18% -- a day after voters rejected a plan by the governor and Legislature to address the budget crisis.

Citing pay cuts and layoffs being imposed on rank-and-file state workers, the California Citizens Compensation Commission approved the reduction for the governor, legislators and other state officials elected next year.

"I think they should share in the sacrifices that everyone else has had to encounter," said Commissioner Kathy Sands, a former Auburn mayor, after the panel's 5-1 vote at a meeting in Burbank.

The commission had wanted to decrease current officials' pay, but the panel's attorney said California law does not allow that.

In Hooray For California, Propositions 1A-1E Go Down In Flames and Huge Deficit Stuns Cincinnati; California Faces Cash Crisis as well as many times previously, I proposed the following:

M1 - Cut legislative pay by 20%
M2 - Legalize Marijuana
M3 - Free all the prisoners on minor drug offenses
M4 - Privatize services starting with the prison system
M5 - Eliminate defined benefit pension plans for all new state employees

And that is just a small down payment for what is needed, not just in California, but nationwide.

Quite frankly I have to admit that I am shocked to see proposition "M1" has just been approved. It's a start.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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