Posted on 12/18/2007 7:37:03 AM PST by george76
For the third time in a month, an analysis of state finances is warning that budget deficits and spending cuts are on the way.
Thirteen states say they could face shortfalls for the fiscal year that begins July 1 in most states, including large states like California and New York.
The deficits could reach at least $23 billion, according to an analysis by the Center on Budget and Policy Priorities released Tuesday.
The report says another 11 states expect problems with their budgets over the next two years, suggesting a return to the bleak economic outlook states faced at the beginning of the decade.
"We're really teetering on the edge," said Iris Lav, the center's deputy director. "With the deficits this large already before there's actual evidence we're in a recession, that seems quite serious."
The report mirrors findings earlier this month in two other surveys, one by the National Conference of State Legislatures and the other from the country's governors and state budget officers.
California is addressing a deficit that could range from $10 billion to $14 billion, while New York budget officials are projecting about a $4 billion deficit...
"Our problem is we've just been spending too much," California Senate Republican leader Dick Ackerman said in an interview. "Our income has gone up every year, but the rate of spending has gone up greater than the income."
(Excerpt) Read more at news.yahoo.com ...
“Our problem is we’ve just been spending too much,” California Senate Republican leader Dick Ackerman said in an interview. “Our income has gone up every year, but the rate of spending has gone up greater than the income.”
And most of those states are ruled by............?
Associated Pravda doesn’t note that.
I'm sorry sir, you make far too much sense. If you wish to keep your government job you'll have to have at least half of your brain removed.
"Our problem is we've just been spending too much," California Senate Republican leader Dick Ackerman said in an interview. "Our income has gone up every year, but the rate of spending has gone up greater than the income."Well, that calls for big raises and tax increases! Thanks george76.
“Our problem is we’ve just been spending too much,” California Senate Republican leader Dick Ackerman said in an interview. “Our income has gone up every year, but the rate of spending has gone up greater than the income.”
Our current failed governor Arnold promised not to let this happen. Someone must have given him a new script.
On the positive side, his fund raising is much better then Davis and Arnold has millions. What office will he run for?
Cal: a $14 mill deficit and $10 bill in services to illegals.
“On the positive side, his fund raising is much better then Davis and Arnold has millions. What office will he run for?”
Probably DiFi’s office. If she left due to a health problem, he would probably appoint himself.
Arnold has given the teacher’s union a credit card with no limits. Talk to any teacher still working and ask about their pay raises the past few years and their incredible retirement plans.
Our education taxes keep increasing with the mandated taxes before Arnold. He has done nothing to wake up the public and get the law changed re the % so called education gets.
Arnold is poing the pure Greens. He will veto a Green bill that would cause large unemployment or economic losses to many to satisfy a few radical greens.
Greens, who make money on tax supported shams like ethanol, solar and wind power, love Arnold. The money they can make has been and can be enormous with these green energy scams using our tax $’s.
Prior to Mitch Daniels, under Democrat control, we went from a $2B surplus to a $600M Deficit.
Under Mitch Daniels, in what has been described as the “worst economy since Herbert Hoover”, in 3 years has turned that back into a $1B surplus.
And partly by leasing the Toll Road, all of our major Highway projects are fully funded for the next 10 years.
The ship USS CALIFORNIA had been torpedoed by Grayout Davis, and now Arnold is strafing the lifeboats holding the taxpayers.
"Most" by a very small margin. In fact, of the twenty states listed as having or heading towards a fiscal crisis, the Republicans control two of the three bodies that control spending (either both houses of the legislature or one house and the governorship), and in three states, the Republicans control both houses of the legislature and the governorship.
Here in Florida they are experiencing massive revenue shortfalls because of a decline (by up to 50%) in housing prices. Thanks to the whacked out system called Homesteading that treats people who have lived in their homes for a long time as 1st class citizens and taxes them less than us 2nd or 3rd class citizens, the newcomers are drying up faster than a camel fart in the middle of the desert. When your economy is based largely on growth, that is a very bad thing...
This is just where the budget games begin. If we assume the gap is somewhere in the $15 billion range, it is to their advantage to now call it $25 billion. Then they can claim that their actions (which will be a bunch of mumbo jumbo) cut $10 billion and they will only have to raise taxes to cover the $15 billion! Then we can all applaud at how they solved the crisis with their great fiscal management!
I'm have a little trouble following, or understanding those two sentences. Can you clarify a little?
As to Arnold ever taking a position in the Senate, I heard some talking head whose name I cannot "recall," articulate very clearly and strongly why Arnold will NEVER seek to join a club of 100 politicians where he is the junior member for even two years!!! His mental make-up just would not, no, cannot stand such a confining and demeaning come-down from his lofty executive perch. It simply doesn't suit him and Arnold does NOT do ANYTHING that doesn't suit his personal interest... EVER!!!
Therefore, both Boxer and Feinstein's "seats" are completely safe as Arnold won't touch 'em!!! (and neither would you or I if you think about it)
I see Arnold more intested in the UN in that top executive position.
He's also looking over his shoulder for a recall. If he claims a $25 billion deficit, that'll pretty much do it.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
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