In the past few weeks and especially today we have seen our nation’s fiscal problems manifest into our daily media programs and bring worry to the public. Our debt is growing larger and our politicians have to cut trillions of dollars in spending over the next few years. A double dip recession may be looming and the financial markets have reacted with huge losses.
Although this is depressing news for our finances and portfolios, what comes with increased fiscal policy pressures usually results in cost cutting measures in programs that are bleeding money, namely, drug war programs.
What I foresee from federal government cuts will be increased pressure on state’s to foot the bill for education, infrastructure, and health that would be normally be subsidized by federal funds. As spending cuts take place states will have to make more difficult decisions on whether to spend money enforcing drug laws and populating prisons with non-violent offenders or cut money from education and infrastructure.
The movement for decriminalization is already taking place at the state level and medical marijuana laws are spreading at a record pace. With increased public pressure I foresee a majority of states will have medical marijuana laws enacted within 4-8 years which will prompt a federal rescheduling with decriminalization following suit.
The big question in my mind is whether there will be a larger drug law reform as a result of increased pressure from groups like the one that spoke at the U.N and the Conference of Mayors.
One thing is for sure when pocketbooks get tight, political attitudes change and more importantly laws change.
The Weed Street Journal
