Let’s talk.

Remember the old days when people could discuss political issues and be civil? No sneering, nasty names or social media fallout?

Spotlight Santa Barbara’s forum at the Lobero Theatre last week offered a refreshing reminder that thoughtful, respectful dialogue is still possible.

Founded by Jeff Giordano and Brian Goebel, the Spotlight Santa Barbara series aims to “provide a forum that fosters hard thought, independent judgment and the questioning of stubborn assumption.”

In partnership with Noozhawk and with support from community sponsors American Riviera Bank, Montecito Bank & Trust, Nicholson & Schwartz CPAs, Pence Vineyards, Pepperdine University School of Public Policy, Santa Barbara Foundation, Santa Barbara South Coast Chamber of Commerce and Village Properties, the organization is creating space for meaningful conversation around important issues.

The evening began with cocktails and conversation on the Lobero esplanade, followed by a 90-minute panel discussion titled “California’s Problems, Santa Barbara’s Choices,” and concluded with time for attendees to connect with the speakers.

Topics focused on how to solve existential issues facing California today, including the economy, public finances, affordability, poverty and housing.

The panel featured an impressive group:

As the title suggested, there was no shortage of sobering news about California. Despite its natural beauty and status as the world’s fifth-largest economy, facts show that the luster has come off “the Golden State.”

California has incredibly serious budget problems that, as Ohanian deadpanned, “not even Ozempic could fix.”

All the panelists noted that Sacramento has a spending problem. When times are good and revenues are strong, the state government simply finds new ways to spend money rather than paying down debt and building reserves.

“Two heads are better than one only if they contain different opinions.” KENNETH KAYE

According to Ohanian, California’s budget has grown by 75% in the past eight years — despite the fact that people are leaving the state due to the nation’s highest cost of living.

One striking statistic shared by Ohanian was that tax revenues from California’s top 1% exceed the total budget of 30 different states.

The top 1% pay 45% of all personal income tax — and the top 5% pay 65%-70%, according to the state Franchise Tax Board.

But sadly, we often villainize some of our state’s most successful citizens who innovate and create thousands of jobs in great businesses — and they are leaving California.

Tech founders like Larry Page, Sergey Brin, Peter Thiel and Elon Musk have left. So have companies like Tesla, SpaceX, Oracle, Hewlett Packard Enterprise, Charles Schwab and Palantir.

Peterson noted that after 160 years of almost uninterrupted growth, California is shrinking, and Texas will soon be America’s most powerful state.

The speakers agreed that California needs to LIVE WITHIN ITS MEANS, CREATE RESERVES AND REDUCE DEBT. Only time will tell if the governor and Legislature will make the tough decisions needed.

Yet the most encouraging takeaway from the evening is that Santa Barbara is not powerless. Santa Barbara can make its own choices regardless of the craziness in Sacramento.

Peterson emphasized the importance of defining a shared vision for the community, asking questions like:

  • Who will be able to live here in 20 years?
  • Will future generations have the same opportunities?
  • What kind of city do we want to become?

The decisions we make today will hold the answers.  

The speakers all noted how important it is to get citizen involvement in decision-making.

Swearengin offered a compelling example from her time as Fresno’s mayor. Facing a near-bankrupt city of about half-a-million people, she convened more than 500 residents over several months to help shape difficult budget decisions. The result was broad consensus and a renewed sense of shared purpose.

The lesson is clear. Real progress happens when communities engage openly, listen to different perspectives and work toward common goals.

All of this argues that it’s once again time for local government, businesses and citizens to work together in planning for our community’s future.

Santa Barbara has done this before. The character and beauty we enjoy today are the result of past generations stepping up and planning thoughtfully.

There are encouraging signs — from discussions about the future of State Street to the redevelopment of key downtown spaces — but lasting success will require broad participation.

Events like Spotlight Santa Barbara offer important voices and ideas to help us get involved.

We cannot allow a small number of voices to dominate the conversation. If we want to solve big problems, we need more voices, more perspectives and more willingness to engage.

And that starts by showing up.

Retired financial adviser Kirk Greene served hundreds of individuals, businesses and nonprofit organizations over his 40-year career. In 2020, he sold the Seattle-based registered investment advisory firm he founded to his partners and returned to Santa Barbara, where he grew up. He is an alumnus of Seattle University and earned ChFC and CLU designations from the American College of Financial Services. Kirk is past
president of the Estate Planning Council of Seattle and has been an active Rotarian for more than 25 years. The opinions expressed are his own, and you should consult your own financial, tax and legal advisers in thinking about your own planning.