Local Democrats contend that if the Schwarzenegger budget were to be adopted 400,000 people will lose their jobs and the California state unemployment rate will rise by a full two percent.
While austerity is still being debated in California its implementation is now fact in Governor Christie's New Jersey. Here facing an $11 billion dollar budget shortfall the legislature recently passed the Governor's austerity budget that included; cuts of hundreds of millions in public school aid, suspended property tax rebates and added levies on businesses, students, the elderly and the disabled. While Governor Christie refused to enact a one year surcharge on millionaires he none-the-less according to Assembly Man Lou Greenwald loaded the budget with tax increases for average New Jerseyans.
But there is good news is that Americans have recognized the enemy and have repeatedly told pollsters that they do not want austerity imposed upon them. The America Speaks organization found in its poll that rather than austerity:
85% want to raise the cap on earnings subject to Social Security taxes
85% want to cut military spending
64% wanted a carbon tax.
58% favored a new higher tax bracket for millionaires.
61 % wanted a financial transaction tax.
Austerity does not have to be our future. We need a peaceful democratic movement to oppose austerity and to demand that the privileged pay for their follies.
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