The relentless spending habits of San Diego’s Democratic leaders are driving us into a massive budget deficit. Despite San Diego’s economy being relatively strong, revenue growth has slowed and expenses have spiked—and they’re projected to grow even faster. Some experts predict an economic recession soon, which would not only worsen the deficit but shrink tax revenues and spike pension costs.
Of course, it’s no secret that many of the city’s financial problems come from poor financial management on the part of elected officials. As more money is funneled into initiatives that act as functional sinkholes for funding and are kept from groups that need it most, the budget grows slimmer and slimmer. When it gets too slim, the default solution is to increase taxes on hard-working citizens and businesses, a pattern that has repeated itself for far too long.
These tax hikes are on the horizon. Upcoming ballot measures propose hotel tax hikes that would hurt San Diego’s bustling tourist economy and housing bonds that would restrain the purchasing power of the average San Diegan in favor of low-income housing.
The circle of spending always comes back around to bite us. From terrible spending to tax hikes, it’s clear that local Democrats have no sense of fiscal responsibility or how to resolve our financial issues.