Business: Brown vs. the Board

In the past few weeks, California Governor Jerry Brown has phoned five members of TIME'S Board of Economists. Why, he asked, did they oppose his call for a constitutional convention to devise an amendment that would force Congress to balance the budget? Recalls one of the economists: "When you say to him, 'Look, it just doesn't make a damn bit of sense,' his comeback is, 'Yes, but I want some amendment in the Constitution that reflects fiscal responsibility.' " The California legislature, by a vote of 12 to 8 in its ways and means committee, declined last week to join the...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!