Is Maryland the next California?

May 16, 2012

Is Maryland the next California?
- O’Malley, Miller and Busch’s unsustainable spending habits mimic the Golden State’s path to bankruptcy -

ANNAPOLIS – Last week Gov. Jerry Brown (D-CA) announced that California’s budget deficit had nearly doubled in the last year, going from $9 billion to $16 billion. While Brown has maintained the huge gap is due to a misjudgment in revenue forecasting, the real reason is simple: the state is spending too much and is too reliant on a shrinking tax base.  According to the non-partisan Tax Foundation, California ranks 48th out of 50 in business tax climate and residents have been fleeing the state for years now.

Today, the Maryland General Assembly approved a budget that continues spending at an unsustainable rate and places more of the tax burden on a shrinking working class.  The Tax Foundation ranks our tax climate at a disturbing 42 out of 50 which will undoubtedly worsen thanks to Gov. O’Malley’s income tax hikes. While our problems are not as severe as those in the Golden State yet, it begs the question: Is Maryland the next California?

“For the past decade California politicians have spent at an unsustainable rate – putting one of the world’s largest economy at risk of default,” said Dave Schwartz, Americans for Prosperity’s Maryland State Director.  “In light of the spending spree during the recent Special Session, we’re concerned that Maryland may be on a similar path.  Is Maryland the next California?  It very well could be if we don’t stop spending and taxing at unsustainable rates.”