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California: $62 billion [3-yr deficit if Arnold lets state spending continue on autopilot]
Dan Weintraub Weblog ^ | November 15, 2003 | Dan Weintraub

Posted on 11/15/2003 6:42:47 PM PST by John Jorsett

Edited on 04/12/2004 6:01:00 PM PDT by Jim Robinson. [history]

Sixty-two billion. Thatís the number the Schwarzenegger team wants you to remember. It doesnít have a whole lot of real-world significance, but you will probably be hearing it plenty just the same. Itís the number Schwarzenegger auditor (and Finance Director-designee) Donna Arduin has come up with to describe what would happen if the new governor, after rescinding the tripling of the car tax, left the rest of state spending and revenues on auto pilot throughout the three-year term to which he was elected. The $62 billion is the total of the annual deficits that would ensue under that scenario.


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


TOPICS: News/Current Events; US: California
KEYWORDS: calgov2002; catrans

1 posted on 11/15/2003 6:42:48 PM PST by John Jorsett
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To: John Jorsett
Who is Dan Weintraub and why should I believe his analysis? How can California be only $15B in the whole, when without repealing the illegally raised car tax, it was something like $30B in the whole.

I did a bit of research on Dan Weintraub. He didn't like Gov. Arnold before the election, he seems to love tax increases of every stripe, and he's apparently a journalist for a very liberal paper (SAC Bee).

California is in the whole deep, and this debt will be felt in terms of reduced public services, increased taxes, and unless Arnold is very, very careful, and increases in the exodus of business and jobs from California.

SFS

2 posted on 11/15/2003 8:02:32 PM PST by Steel and Fire and Stone (SFS)
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To: John Jorsett
Big challenges for our new Governor!
3 posted on 11/15/2003 9:36:21 PM PST by Ernest_at_the_Beach (Davis needs to get out of Arnoold's Office)
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To: John Jorsett
This post has been added to the… California In Transition- Must read Threads!

Want on our daily or major news ping lists? Freepmail DoctorZin


4 posted on 11/16/2003 8:39:07 AM PST by DoctorZIn
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To: Steel and Fire and Stone
He won't have to borrow. Cutting illegal aliens off from welfare/school/free health care/free money/ free housing/affordable housing/gov't loans for illegals/and any other perks they get... would bring us back into the black.

Also, sending them back would also bring the deficit down.

And defunding ALL non-profits.
5 posted on 11/16/2003 5:49:23 PM PST by I_Love_My_Husband
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