Help End The Obama Era In 2012
Your Monthly and Quarterly Donations
Help Keep FR In the Battle!
Sponsoring FReepers are contributing
$10 Each time a New Monthly Donor signs up!
Get more bang for your FR buck!
Click Here To Sign Up Now!
Posted on 11/16/2011 3:49:20 PM PST by NormsRevenge
Sacramento -- California faces deep mid-year cuts to its universities, community colleges, social service programs and public schools - which may have their year shortened - because the state will collect billions in revenue less than expected, according to a report released today.
The report by the Legislative Analyst's Office says the state faces a budget deficit in the current fiscal year largely because it will collect only $300 million of $4 billion that Gov. Jerry Brown and the Legislature added to the budget just days before it was approved in June. Critics had called the sudden infusion of projected revenue "phantom money" that was conjured to avoid deeper spending cuts.
The report says California also faces a budget deficit in the 2012-13 fiscal year of $13 billion.
The projection does not ensure the automatic cuts will be made, as it is one of two revenue reports that will be used to make that determination. The second report will come from the Department of Finance next month and administration officials will select the rosier of the two projections to decide whether the cuts will take place on Jan. 1.
The director of the Department of Finance, Ana Matosantos, will make the final determination by Dec. 15, but the legislative analyst's findings make it much more likely that the cuts will happen.
(Excerpt) Read more at sfgate.com ...
Looks like California, otherwise known as American Greece, has finally run out of other peoples’ money to give away. Bet there’s gonna be riots like Greece there too, even more than usual.
I have no idea what you’re talking about.
“Socialist Udopia Under Construction”
Correction. Under DE-struction.
I suspect if they could find a way to rid themselves of the illegal aliens who are choking them to death, they would be halfway there.
Students are demonstrating against tuition increases that will still leave California schools chargubg FAR LESS than other states with Great Universities.
At the same time they are discouraging Out Of State students with EXCEEDINGLY HIGH tuition rates for them ~ properly balanced those Out of State and Foreign students (with visas) can provide a much needed financial boost to the universities.
Well no kidding..Here is some breaking news for you:
It's Official: Total US Debt $15,OOO,OOO,OOO,OOO -
It's passed the $15 Trillion...That is 15 trillion....lol
"States take pride in their universities."
Ya mean like Penn State?
Look, I could care less if they shut down every CA university for the next two years...Send the GD message...I hope it people really get pissed off. This is what is needed!!
It's what is needed for them to finally figure out, GOVERNMENT AT ALL LEVELS has betrayed America.
It's what happens when government becomes too big, out of control and corrupt.
It also owns the economic zone off shore for 200 miles, and in the Pacific that is an enormous zone since we own thousands of islands.
What that means as a practical matter is that we can back our debt and others less favored can't.
Californians sometimes imagine they own the whole state but they don't. They demanded vast areas be set aside for use as National Forests, National Monuments and National Parks.
Too bad ~ that's now federal gub'mnt land. The mineral resources, which include all sorts of things, are now lost to the state's taxpayers.
Oh Good God...OK, OK...The federal government is performing very well, there is no debt for the next 6 generations, we are not in hock to the tune of 15 trillion, our borders are secured, there is no other big-gov corruption, the rest of the states have big surpluses and run like fine tuned watches...
Okay...That being said, once again Ms. muawiyah, just for you, I could care less if they shut down ever CA university for the next two years...Send the GD message...Get people really pissed off. This is what is needed for them to finally figure out, GOVERNMENT AT ALL LEVELS have betrayed America, whether you have noticed or not.
The federal government can back its debts with assets ~
Did you imagine the dollar has been the preferred world reserve currency for the last 65 years just because we had a strong economy? There's a lot more to it than that.
At some point we probably ought to start redeeming the debt with that excess property but NOT until we have a balanced budget amendment and some mechanisms in place to PUNISH violations.
I bet Illinois does them one better.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.