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John Chiang: ‘Failure is not an option here.’

State Controller John Chiang just addressed today’s special joint convention of the Legislature on California’s budget crisis, describing the problem’s parameters and leaving no doubt about what’s at stake:

“Failure is not an option here. Without coming together to address our budget problem, we will create a financial catastrophe from which it would take years to recover.

“Failing to enact a responsible, long-term solution to this financial crisis could mean liquidated damages, federal penalties, and exposing our state to expensive litigation when it can least afford it.

“You would see a chain reaction far worse than new taxes or program cuts. It would endanger local governments, schools, small businesses, nursing homes and hospitals. We would pass our financial problems on to millions of Californians by deepening and prolonging the current recession.”

Read Chiang’s full statement as prepared by clicking here.

Josh Richman

Josh Richman covers state and national politics for the Bay Area News Group. A New York City native, he earned a bachelor’s degree in journalism from the University of Missouri and reported for the Express-Times of Easton, Pa. for five years before coming to the Oakland Tribune and ANG Newspapers in 1997. He is a frequent guest on KQED Channel 9’s “This Week in Northern California;” a proud father; an Eagle Scout; a somewhat skilled player of low-stakes poker; a rather good cook; a firm believer in the use of semicolons; and an unabashed political junkie who will never, EVER seek elected office.