California, my perpetually economically troubled home state, is suddenly looking a lot better than it was before. The state’s credit rating just got a boost, for example. The timing is interesting, since the biggest recent event here was that the state finally tossed out the Republicans once and (hopefully) for all from any power in budgetary and taxation discussions. Guess the bond vigilantes feel that a state that is able to actually do the sorts of things that a state should be able to do is a better place to invest in than a state that artificially empowers budget-slashers (which were used to create perpetual crises).

It’s a shrewd judgment, in my opinion. And even though I’m not ideologically sympathetic with Jerry Brown, the man sure can govern. If he were twenty years younger, this kind of turnaround would lead to presidential chatter. He’ll get another term for sure, and he’ll wind up setting a record for longevity in the office that, due to term limits, will never be broken. In any event, he’ll win re-election next year in a landslide, and my strong hunch is that he’ll spend his next term trying to roll back Prop 13, which included so much more than just 2/3 rules. I’ve always gotten the sense that Brown regretted his reluctant support for that initiative, and the damage it’s done to state spending priorities and in hampering good government in the state. If he could do that, that would be a pretty incredible legacy.

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  1. Metavirus says:

    i was both hopeful for and suspicious of jerry brown. one thing you can say about him is that he is capable of fighting stridently for progressive values.

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