State Budget Problems
Not only will the taxpayers have to pay $9-million-plus in interest on the state’s IOUs and increased interest rates on future bonds due to lowered ratings because of the budget debacle, but they will suffer other negative consequences as well.
The same day that Wilson signed a budget with cuts that adversely affect health and welfare services for the poor, higher education and local governments, our state Assembly rejected a bill (SB 1637) that would disallow tax deductions for country club dues, sports stadium luxury boxes, concert tickets and yachts.
When are we going to wise up to the fact that we are in a shell game?
JUDD B. CUSHING, Los Angeles
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