the california yacht party

From Crooks & Liars:

It was only a few years ago that Arnold Schwarzenegger recalled a sitting governor, promising the end of massive budget deficits. Guess what we have in California this year? Oh, just a measly $20 billion deficit.

Our schools are closing and social services have already been slashed to the bone. And it is just the start of budget season in California. Unfortunately, because Democrats do not hold a two-thirds majority in the state legislature, a small minority of Republicans are able to hold Californians hostage, refusing to raise taxes, no matter how ridiculous the loopholes.

Even, get this… a sales tax loophole for purchasers of yachts and private jets. The Republicans have very much earned the moniker bestowed on them by the Calitics crew: The Yacht Party.