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$8 billion [California]state budget gap predicted
Contra Costa Times ^ | May 23, 2002 | Alexa Haussler

Posted on 05/24/2002 4:57:00 AM PDT by snopercod

Edited on 04/13/2004 3:29:22 AM PDT by Jim Robinson. [history]

SACRAMENTO - Even if lawmakers approve Gov. Gray Davis' plan to fill a $23.6 billion budget shortfall, California still could be strapped with an $8 billion deficit a year from now, according to the Legislative Analyst's Office.

Legislative Analyst Elizabeth Hill sent a memo Wednesday to Senate Republican leader Jim Brulte of Rancho Cucamonga in response to GOP questions about Davis' plan to use cuts, tax increases and borrowing to address the shortfall.


(Excerpt) Read more at bayarea.com ...


TOPICS: Business/Economy; Extended News; Government; News/Current Events; US: California
KEYWORDS: bankruptcy; calgov2002; california; davis
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While the Washington Post and New York Times are wailing about the non-existent Bush-Enron connection, the little Contra-Costa Times is focused on the real issue:

The imminent bankrupcy of California at the end of June.

1 posted on 05/24/2002 4:57:00 AM PDT by snopercod
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To: snopercod
Hey Grey, you running for reelection? Ha ha ha, Idiot. Time to drastically reduce the govt., or drastically raise taxes. So, what's it gonna be Grey? Either way, you lose.
2 posted on 05/24/2002 6:27:36 AM PDT by Joe Boucher
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To: snopercod
Well, I do agree with his last line.

Let's see some other proposals on the table.

I often see talk that the Republicans are irrelevent in California; here's proof that this isn't so. Someone has to put Davis' feet to the fire, and they're doing it.

D

3 posted on 05/24/2002 7:23:15 AM PDT by daviddennis
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To: daviddennis
But the California Constitution requires that the governor submit a balanced budget to the legislature no later than January 10th.
CALIFORNIA CONSTITUTION
ARTICLE 4  LEGISLATIVE


SEC. 12.  (a) Within the first 10 days of each calendar year, the
Governor shall submit to the Legislature, with an explanatory
message, a budget for the ensuing fiscal year containing itemized
statements for recommended state expenditures and estimated state
revenues.  If recommended expenditures exceed estimated revenues, the
Governor shall recommend the sources from which the additional
revenues should be provided.
   (b) The Governor and the Governor-elect may require a state
agency, officer or employee to furnish whatever information is deemed
necessary to prepare the budget.
   (c) The budget shall be accompanied by a budget bill itemizing
recommended expenditures.  The bill shall be introduced immediately
in each house by the persons chairing the committees that consider
appropriations.  The Legislature shall pass the budget bill by
midnight on June 15 of each year.  Until the budget bill has been
enacted, the Legislature shall not send to the Governor for
consideration any bill appropriating funds for expenditure during the
fiscal year for which the budget bill is to be enacted, except
emergency bills recommended by the Governor or appropriations for the
salaries and expenses of the Legislature.
   (d) No bill except the budget bill may contain more than one item
of appropriation, and that for one certain, expressed purpose.
Appropriations from the General Fund of the State, except
appropriations for the public schools, are void unless passed in each
house by rollcall vote entered in the journal, two thirds of the
membership concurring.
   (e) The Legislature may control the submission, approval, and
enforcement of budgets and the filing of claims for all state
agencies.


4 posted on 05/24/2002 10:14:48 AM PDT by snopercod
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To: snopercod
Interesting, $8+ billion has a certain power refund ring to it. I wonder if there is a connection and if it is political in nature?
5 posted on 05/24/2002 10:45:01 AM PDT by Robert357
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To: Robert357
8,000,000,000 Rea$on$ TO

DUMP DAVI$




GO SIMON

6 posted on 05/24/2002 11:21:44 AM PDT by NormsRevenge
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To: Robert357
Methinks Davis is becoming a little stressed...
7 posted on 05/24/2002 3:57:22 PM PDT by snopercod
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To: snopercod
$8 billion deficeit? I think that's more than the entire budget of Ohio.
8 posted on 05/24/2002 4:14:39 PM PDT by spald
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To: spald
And its til 2008. Which basically crimps the Rats high living lifestyle. Freepers learn to love the word "budget deficit." Its a blessing in disguise for the taxpayers.
9 posted on 05/24/2002 4:20:45 PM PDT by goldstategop
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To: spald
The budget defecit in California is $23 billion, not $8 billion. The $8 billion is only for FY 2001.

The deficit in California is greater than the defecits in the other 49 states combined.

This should be news, but the media are deliberately ignoring it, IMHO.

10 posted on 05/24/2002 4:42:23 PM PDT by snopercod
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To: snopercod;;calgov2002 ;Carry_Okie; SierraWasp; Gophack; eureka!; ElkGroveDan...
The deficit in California is greater than the defecits in the other 49 states combined.

Then it certainly must be Bush's fault!! Just kidding!

I am gonna keep doing the index thing. I have faith that John and Jim will take care of us!

Operating Systems and Computer Applications are notorious(infamous?) for taking much effort to build. But young John has a great track record!

calgov2002:

calgov2002: for old calgov2002 articles. 

calgov2002: for new calgov2002 articles. 

Other Bump Lists at: Free Republic Bump List Register



11 posted on 05/24/2002 5:18:57 PM PDT by Ernest_at_the_Beach
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To: snopercod
I heard on the Roger Hedgecock show today that Davis raided the funds of the California Dental Board.

-- I may have some details wrong. --

Last year, Davis fired the entire board, and then installed his own chosen yes-men who were all obscure or barely-known dentists. The board last month, on its first meeting, lent the group's entire reserve fund to California. The group is funded by (mandatory?) contributions from every dentist and hygienist in the state (or in its membership?), and either has influence over licensing or is in charge of licensing.
-- I'll get the details off his archive next week. --

Dump Davis!

12 posted on 05/24/2002 5:48:26 PM PDT by heleny
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To: snopercod
Let the fun begin. The next month is going to have many stories about California and Davis's shell game to hide the deficit.

I'm going to enjoy it thoroughly.

13 posted on 05/24/2002 5:53:27 PM PDT by Dog Gone
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To: Robert357
"Interesting, $8+ billion has a certain power refund ring to it. I wonder if there is a connection and if it is political in nature?"

Somehow, I see Davis' vaunted "Enron refund" making its way into California's books as an "Account Receivable".

If Arthur Andersen is the state's auditor...???

14 posted on 05/24/2002 6:13:22 PM PDT by okie01
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To: Ernest_at_the_Beach
"We believe that we have a spending problem," Cox said. "The governor identifies the problem as a revenue problem. We don't think that you can fix this problem without acknowledging that we in fact have a spending problem."

OF COURSE he wants to define the problem as a revenue shortfall. What galls me about the reporting I've seen on this, is that NOBODY is talking about the spending (except in generalities): an incredible 36% over three years! Dufus is a rank amatuer as Governer, and is ruining (has ruined?) this State's economy.

Lazy "journalists" are simply printing the stories that are given them by the administration. They don't bother to 1) Challenge the information, or 2) Look for other angles. They get away with ignoring the fact that Dufus increased spending so much. According to Senator Mcklintock (sp?), if over this same period spending had increased only by the combination of inflation and population growth, even given Dufus' expert handling of the energy crisis, we would be sitting on a $15-20B SURPLUS this year.

And when is the media going to start covering the fact that, since Enron only supplied 3% of California's energy during the "crisis", it was actually PUBLIC utilities, such as LA Power, etc. that actually "overcharged" the State of California.

Gotta go. Oh, BTW, looks like Dufus has learned from "the master", releasing the bad news on the Friday preceding a holiday weekend.

Simon and the 'Pubs have to beat this puke like a drum...

15 posted on 05/24/2002 6:50:57 PM PDT by Mad_Tom_Rackham
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To: okie01
If Arthur Andersen is the state's auditor...???

ROFLMBO! I loved your comment!

16 posted on 05/24/2002 11:36:00 PM PDT by Robert357
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To: heleny
Great information. Thanks for posting it.

I'll bet a lot of dentists are gritting their teeth!

17 posted on 05/25/2002 3:33:37 AM PDT by snopercod
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To: Mad_Tom_Rackham
Yup, every Friday for the last few weeks, some kind of bad news has come out. Once on May 5th, a Sunday (see this post)
18 posted on 05/25/2002 3:44:49 AM PDT by snopercod
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And then the following Sunday, this was printed in the NYT:

California Officials Face Unprecedented Budget Gap

19 posted on 05/25/2002 3:50:09 AM PDT by snopercod
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To: snopercod
your post #10: "The budget defecit in California is $23 billion, not $8 billion. The $8 billion is only for FY 2001. The deficit in California is greater than the defecits in the other 49 states combined. This should be news, but the media are deliberately ignoring it, IMHO."

I spoke to a good friend in the Ohio Engergy Department and he said the entire budget of Ohio is about $45 Billion, not 8 as I previously stated. Still, $23B is a HUGE deficit for CA, about half of Ohio's yearly budget (we have a constitutionally protected balanced budget and the pols have run through alot of the tobacco money, so there's cutback in state agency hiring and finances). Ohio still has a "rainy day fund" of about $600MM, but that could be spent pretty darn quickly.

20 posted on 05/27/2002 7:48:02 AM PDT by spald
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