How can we fix California?

Nicolas Berggruen and Nathan Gardels have an interesting piece in the Sacramento Bee about how to fix California. They have created the "Think Long Committee" to propose solutions to what ails California. Items on the committee's agenda include: 1) realigning state and local taxes and responsibilities; 2) reforming the tax system to make it more stable/less volatile; 3) reforming the budget process to create, among other things, a rainy day fund, pay-go, and sunset laws; 4) reforming term limits laws; and 5) reforming the ballot initiative process to reduce ballot box budgeting. Click here for more.