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California Governor's budget has surprise: a surplus!
Yahoo News via Reuters ^ | 01/13/2013 | Jim Christie

Posted on 01/11/2013 8:23:20 AM PST by SeekAndFind

SACRAMENTO, California (Reuters) - California's budget deficit is gone after years of financial troubles, Governor Jerry Brown said on Thursday, proposing a state budget plan that would raise spending on education and healthcare, boosting total expenditures by 5 percent with a surplus remaining.

But Brown vowed to push back at legislators eager to increase spending even more by restoring the billions of dollars to social services and other state programs cut in lean years.

"I am determined to avoid the fiscal mess that the last few governors had to deal with," Brown told reporters as he introduced his budget plan for the 2013-14 fiscal year beginning in July. Leading Democratic legislators agree with his plan.

California's economy melted down with the housing market, slashing the state's revenue, but it is finally on the mend. For years the state's leaders have tackled budget deficits with a combination of deep cuts and accounting gimmicks. The projected surplus is now the latest surprise.

Businesses are hiring again and voters in November approved temporary hikes to the state sales tax and income tax rates on wealthy taxpayers.

California's job growth tops the national average, unemployment has fallen to below double-digit levels for the first time in nearly four years and more money is expected to flow into state coffers from the voter-approved tax increases.

The state Department of Finance projected unemployment will fall to 9.6 percent this year and 8.7 percent in 2014.

Brown's budget plan projects $98.5 billion in revenues and transfers and plans spending of $97.7 billion, according to the proposal published on the state Department of Finance website.

That would leave a surplus of $851 million, in addition to a projected $785 million surplus for the current fiscal year,

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; US: California
KEYWORDS: budget; california; surplus
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1 posted on 01/11/2013 8:23:30 AM PST by SeekAndFind
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To: SeekAndFind

LOL, so now a proposed surplus is a surplus.


2 posted on 01/11/2013 8:26:20 AM PST by ScottfromNJ
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To: SeekAndFind
Sure California has a surplus... Why do I not believe him? What form of unicorn accounting is he using?
3 posted on 01/11/2013 8:26:59 AM PST by Truth29
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To: SeekAndFind
A California State Budget with a surplus? R-I-G-H-T-!

If you believe that will actually happen without some very exotic accounting gimmicks and assumptions I have some beautiful ocean front property for sale -- on the east side of the Serra Nevada Mountains.

4 posted on 01/11/2013 8:27:12 AM PST by Nip (BOHEICA and TANSTAAFL - both seem very appropriate today.)
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To: ScottfromNJ

RE: a proposed surplus

You mean they just call it a surplus even when it isn’t?


5 posted on 01/11/2013 8:27:36 AM PST by SeekAndFind
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To: SeekAndFind

So it’s all good now. Great, no need for them to pick our pockets in The rest of the country....


6 posted on 01/11/2013 8:30:52 AM PST by Kozak (The Republic is dead. I do not owe what we have any loyalty, wealth or sympathy.)
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To: SeekAndFind

‘Comrades!’ cried Moonbeam in his eager youthful voice.’ ‘Attention, comrades! We have glorious news for you. We have won the battle for production! Returns now completed of the output of all classes of consumption goods show that the standard of living has risen by no less than 20 per cent over the past year.
`All over California this morning there were irrepressible spontaneous demonstrations when workers marched out of factories, offices and faculty lounges and paraded through the streets with banners voicing their gratitude to Moonbeam for the new, happy life which his wise leadership has bestowed upon us. Here are some of the completed figures. Medicinal marijuana ——’


7 posted on 01/11/2013 8:32:08 AM PST by tumblindice (America's founding fathers: All armed conservatives.)
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To: SeekAndFind

CA will have a surplus right after Obama has a legitimate birth certificate.


8 posted on 01/11/2013 8:32:55 AM PST by Da Coyote
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To: SeekAndFind

No reason to wait until there’s an actual surplus before declaring there’s a surplus.


9 posted on 01/11/2013 8:33:01 AM PST by skeeter
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To: Truth29

What form of unicorn accounting is he using?

I think it is the same on the White House uses. Throw out figures and LIE!


10 posted on 01/11/2013 8:33:16 AM PST by Bitsy
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To: SeekAndFind

sure.


11 posted on 01/11/2013 8:33:42 AM PST by Drango (A liberal's compassion is limited only by the size of someone else's wallet.)
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To: SeekAndFind; All
No one believes there's really a surplus ~ not even ol'Jer hissef. See what the article says: "proposing a state budget plan "
12 posted on 01/11/2013 8:33:42 AM PST by muawiyah
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To: Truth29; GraceG
What form of unicorn accounting is he using?

I don't know, lets ask Twilight.