An excerpt from George Skelton’s Sept 18 column in the Los Angeles Times:
Spending cuts are necessary and tax breaks can help, but they aren’t the whole answer. Government must also pick winning industries and invest in them, developing public-private partnerships. It must pour money into educating the workforce, especially in community colleges. And it needs to pare back public pay, pensions and perks. For starters.
That’s from a Democrat who spells it out in a new book — “A Governor’s Story, the Fight for Jobs and America’s Economic Future” — written with her teacher-author husband, Dan Mulhern.
“I made cuts in long-cherished social programs that some loyal Democrats considered unconscionable,” the former governor writes. “I disappointed many of our party’s traditional allies, from public employee unions to educators to arts organizations….
“And if I had it to do over again, I would make many of the same choices — except that I would make them sooner…. The overarching lesson was that many of our old views of the world simply don’t match reality anymore.”
But, she continues, “tax cuts, deregulation and a hands-off approach [by] government don’t amount to a magical formula for jobs, profits and prosperity….