Skip to comments.California Legislature Passes $156.4-Billion 2014-15 Budget [
Posted on 06/15/2014 9:28:07 PM PDT by Steelfish
California Legislature Passes $156.4-Billion 2014-15 Budget CHRIS MEGERIAN, MELANIE MASON
The California Legislature approved a $156.4-billion state budget on Sunday, capping a week of intense negotiations over education, social services and environmental policies.
The spending plan -- which includes a $108-billion general fund, $7.3 billion larger than last year -- is scheduled to take effect July 1. It funds preschool for children from poor families, increases welfare grants and continues expanding public healthcare under President Obama's federal overhaul.
The budget also takes steps to address the shortfall in the teacher pension fund by increasing contributions from the state, schools and school employees.
The investments in this budget are the most significant in years and in doing these things, we also pay down a good portion of the states debt," Assembly Budget Chairwoman Nancy Skinner (D-Berkeley) said. "We increase the amount in our reserve funds, and we put California on solid fiscal footing.
(Excerpt) Read more at latimes.com ...
...and as far as I know, California is dead broke, which is where the Collectivists always leave their victims. Compare that with the California Reagan left behind - it’s economy was the equivalent of the sixth wealthiest nation on earth at the time.
Really? The once powerful state now going bankrupt by keeping the welfare state afloat.
So this isn’t a problem anymore
California Hit with $31.6 Billion Audit Misstatement
I lived there in Ronnie time, I believe it was fifth.
I have kissed my beloved SoCal goodbye, as painful as that is.
Itsa dump. Yes that was intentional!
The revenues are up this year and the legislature was salivating just thinking about spending it. But they’re not calling it spending anymore; they are calling it “investment”. Seriously.
These fools ever learn... They increased the top tax brackets again, increasing the dependence on the wealthiest even more. A few years of a bull market and they’re ready to lock in spending again at peak revenue. When the market turns, budget crisis again and calls for higher taxes. Ugh.
Dear Other 49 States:
The vast majority of our welfare recipients are transplants from other states. Like yours.
fta... It funds preschool for children from poor families,
There was no taxpayer-funded preschool for kids in the ‘60s and prior years. In fact, there wasn’t anything called “K”; just grades 1-12.
Working parents (both) had to pay for day care for kids too young to be in first grade. My daughters both entered first grade in ‘70, with no “K” or preschool.
When did this socialist mess begin and why is it not something that should be decided by the States under the 10th Amendment?