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Budget optimism dampened by liabilities
UT San Diego ^ | May 12, 2014 | Steven Greenhut

Posted on 05/13/2014 6:18:42 AM PDT by artichokegrower

When it comes to fixing California’s long-term fiscal problems, good financial news actually can be a bad thing. Ever since the state’s general-fund budget was balanced thanks to tax increases and a rebounding economy, California legislators and the governor have lost whatever motivation they had to tackle pensions and other liabilities.

It’s easier to kick the can down the road when there isn’t an immediate shortfall.

(Excerpt) Read more at utsandiego.com ...


TOPICS: Culture/Society
KEYWORDS:
Who in California saw this coming? The main stream media has been repeating over and over that Governor Brown has produced a balanced budget. They wouldn't be holding back the truth would they?
1 posted on 05/13/2014 6:18:42 AM PDT by artichokegrower
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To: artichokegrower

They don’t have a “debt” problem; they don’t have a “budget” problem; they don’t have a “revenue” problem; they don’t have a “long term fiscal” problem. They have a SPENDING problem. Period. They don’t want to face the fact that they spend too much. It would be real nice to hand everyone enough money to live a good life and to build all kinds or “green” projects but they can’t afford it. Just like the rest of the country, they can’t face that.


2 posted on 05/13/2014 6:24:16 AM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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