Skip to comments.Despite Higher Revenues, Debt and Rising Health Costs Threaten California Services
Posted on 07/12/2013 7:04:34 AM PDT by SeekAndFind
California Common Sense (CACS) released a brief analyzing how the States final budget has changed since 2007-08, the last time the budget was balanced. The state projects that its 2013-14 revenues will be $137 billion, $8.9 billion (7.0%) greater than the revenue it expected in 2007-08. Sill, funding for most services is expected to be lower due to growing health care costs, outstanding debt, and rising retirement obligation costs. Accompanying the brief is a data visualization that allows users to easily explore both budgets by department and agency.
Failing to address the states core structural challenges such as growing retirement benefit debt and rapidly rising health costs does not help protect the existence and quality of key services. Its the opposite. Ignoring those worsening problems places services even more at the mercy of boom-and-bust budgeting.
The following are among the reports findings:
what is health care services?
As a retired state employee that would be health care for me but not necessarily for thee.....
As a taxpayer please forgive me if I do not respond with "yippee"...
California retirement systems unfunded liability increases 5% from $211B to $222B from February to now.
That is +80% over 6 years (2007-2008 to 2013-2014) if my calculation is correct... yikes...
I understand but it’s all good. I mean the voters of this great state want me to have all this great stuff....they must, else why would they keep electing the same ‘power brokers’ into office, no? I thank you for your generous, continuing contribution(s)......:)
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.