Skip to comments.Budget optimism dampened by liabilities
Posted on 05/13/2014 6:18:42 AM PDT by artichokegrower
When it comes to fixing Californias long-term fiscal problems, good financial news actually can be a bad thing. Ever since the states 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.
Its easier to kick the can down the road when there isnt an immediate shortfall.
(Excerpt) Read more at utsandiego.com ...
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.