California falls even shorter of tax revenue goals. Who would have guessed?

Orange Punch, The Orange County Register political commentary blog ^ | 5-2-2012 | Mark Landsbaum

[Mark Landsbaum]

Hey, who would have guessed? California’s tax revenue is now about $3 billion short of what that great prognosticator Gov. Jerry Brown estimated, says the independent Legislative Analyst’s Office.

And Brown back in January estimated the deficit gap to be about $9 billion. And since then, he’s said it will grow even more. . .

[RC2]

How much of that $9 Billion goes to illegals? I dare them to state the number.

[forgotten man]

“How much of that $9 Billion goes to illegals? I dare them to state the number.”

100% would be a low ball estimate.

[BigEdLB]

[Paladin2]

‘Rats have no sense of humor. They’re Laffer challenged.

[Mobties]

What’s the current discount on California’s default anticipation notes?

[RC2]

Yep.....that and over priced colleges.

[tflabo]

What’s a few billion here or there? Why be concerned with such chickenscratch? Onward Lieberal soldiers press foward to the glorious Kalifornutopia.

[Fresh Wind]

Oops, time to reach into Barack’s stash again.

[fremont_steve]

There was a study a couple of years ago that estimated that CA could close it 20B budget deficit if it could remove the Illegal’s problem. LA county spends something like $200M a year alone for housing illegals in the county lockup who are in jail for crimes committed since they got here.

[cicero2k]

The problem is public sector employee costs.

Essentially, a retiree is a millionaire.

Just ask an insurance company bank trust, if they were to guarantee a person say $60 K per year starting at age 55, for life; how much would I have to give now to the fund?

They will answer $1.5 million or some such seven figure number.

So these retiress are millionaires. They can move to Tennessee and live like kings forever.

[yefragetuwrabrumuy]

Here’s an idea.

California should sell the north of the state, from Yuba City north to the border with Oregon, to Nevada, for $10b.

This would give Nevada a coastline on the Pacific Ocean, where it could build a desalinization plant and pipeline in all the water it needs.

In return, the Californians would have $10b they could spend on anything they wanted to, such as unicorn-powered high speed rail, a magical fairy kingdom for their magical fairies, or Jerry Brown could buy every illegal alien a Wolfgang Puck Tofu-burger.

[AngelesCrestHighway]

I’m so glad for Jerry Brown!...That the bullseye is painted on HIS forehead.

[drypowder]

Is the demonstrated fiscal ineptness of the Democrat politicians running the show in Sacramento intentional? It certainly appears to be and the motivation behind it likely stems from their prevailing corruption. The current financial status in Kalifornia is analogous to a ship sunk below the surface but has not quite hit the bottom of the sea while those at the helm try to tell others that bailing out the water will re-float the ship while they continue to avoid the real reason it sank.

[blueunicorn6]

Jerry Brown is a prognosticator? Hey....what he does in the privacy of his bathroom is none of our business.

[mo]

So the Detroitification of an entire state proceeds apace....

[jrp]

>Just ask an insurance company bank trust, if they were to >guarantee a person say $60 K per year starting at age 55, >for life; how much would I have to give now to the fund?

You can get an estimate on-line. Google ‘single premium annuity” and pick a page with a quote calulator. Here’s one for example: http://www.annuityquickquote.com/

55, male, $5K/month, looks like a little over $1 million, depending on the particular terms.

[jrp]

PS, $60K @ 55 is pretty low. Lots of “public safety” employees retiring at 50 with closer to $80-$90K pensions PLUS a health insurance benefit. It’s absurd.