Posted on 12/18/2011 7:36:27 AM PST by SmithL
California's dark days of budget deficits and severe spending cuts may be nearing an end.
Since the economic collapse in 2008, state leaders have seen a steep drop in tax revenue that had them jostling to keep public services intact in schools, universities, prisons and aid to the poor, disabled and sick. General fund spending has dropped by $17 billion since 2007 - from a high of nearly $103 billion - and the cuts continued as recently as last week when Gov. Jerry Brown announced another $1 billion reduction to programs serving California's 37.5 million residents.
And the Democratic governor warned the bad news wasn't over: Next month he'll unveil a budget proposal with yet more spending cuts.
But the state may be hearing the final drumbeats of this bad news. The ongoing deficit continues to shrink: At its worst it was $42 billion in 2009. Now it's projected to be $13 billion through the next fiscal year. A combination of more cuts in coming months along with Brown's proposal to ask voters to raise tax revenue next November could lift the state out of the red in the next 12 months, lawmakers and budget analysts say.
"I think that the governor and the Legislature - and the voters - have real opportunities this year to bring the budget as close to balance as we've had in over a decade," said Jason Sisney, deputy legislative analyst of state and local finance for the Legislative Analyst's Office.
(Excerpt) Read more at sfgate.com ...
some more smoke & mirror budgets,
and the Golden State will be all shiny again.
I understand this perfectly as liberals are delusional to begin with.
Wonder if the “Education Grant” will be used for education or tossed into the general fund for union retirement.
Just color me somewhat skeptical. With a majority of dems in the ass embly, they will not be able to control themselves. At the first sign of light in the end of the tunnel, they will resume their spending and taxing as if there is no tomorrow.
Go ahead, prove me wrong, I dare ya. Said to the ass embly and no one else.
You are kidding, right?
Read: CA Democrats know nothing they do will prevent the coming disaster they've caused.
If they raise taxes more wealthy will leave and few new ones will arrive. It is too easy for the really wealthy to be gone from CA for more than 180 days a year..and pay no tax on outside income.
They also are discounting the impact of increasing expenses of retirement and health care. Plus..they are figuring to pass a lot of prison expenses to the counties..who don’t have the money.
I believe the king has more then his fair share.
Next month he’ll unveil a budget proposal with yet more spending cuts.
And in other news this month teachers received a 12% pay increase.Tax money at work,union winks.
Tax the living daylights out of everyone while spending that money like there’s no tomorrow.
That’s just great ... Now what are you going to do to fix the $500 billion unfunded public employee pension and health care hole Jerry?
Any small, temporary surplus they get will be spend 20X over.
Tax all the airhead commies in hollywood and your problems will be over. They want to pay more
So goes the popular refrain .
I reminds me of heroin addicts I have known before .
If both more cuts and more tax revenue happen - and a poll released last week showed strong support for the governor's tax plan - "
If you're happy with the way things are, keep doing what you have been doing (voting Democrats in).
California could have no deficit and no more cuts to state programs in just one year.
And rainbows will magically appear, highlighting the unicorns leaping through the air and raining Skittles down upon the citizenry.
But a real discussion of when the cuts could stop is a new development at the Capitol that has not been heard in years.
No, the "new development" would be when the discussion on raising taxes will stop.
New tax proposals:
1) $1 ticket tax on each movie ticket.
2) $1000 tax per inch of beachfront in Malibu per year.
3) Annually auction off the airwaves spectrum (aka cell phone spectrum) for TV and radio. This corporate welfare loophole must be closed immediately.
4) $500 tax per ton of newsprint.
5) 20% wealth tax on all government officials and their immediate families every year the budget is not balanced.
I’m sure there are others, but that’s it for now.
“California’s dark days of budget deficits and severe spending cuts may be nearing an end.”
Did they actually cut spending?
Guess.
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