Skip to comments.State Budget Shortfall Widens ($14 Billion Deficit - Tom McClintock Was Right Alert)
Posted on 12/12/2007 10:34:32 AM PST by goldstategop
Gov. Arnold Schwarzenegger told social service advocates Tuesday that the state's anticipated budget shortfall -- already feared to be the worst since he took office -- has widened to $14 billion, according to people at the meetings.
That new figure indicates that the state's fiscal fortunes are declining even more rapidly than many leaders had expected. Less than a month ago, the Legislature's chief budget analyst calculated that California is on track to come up $10 billion short by June 2009, when the state ends its next fiscal year.
A $14-billion budget gap would translate to more than 12% of the state's budget if spending continues to rise as projected. Legislative Analyst Elizabeth Hill last month urged legislators to consider getting rid of state programs created in recent years, abolishing tax breaks, raising taxes and reducing benefits for the recipients of government programs.
(Excerpt) Read more at latimes.com ...
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Yeah, but we can spend more money on stem cell research.
I guess CA is on it’s way to becoming the third world country that all the illegals want it to be.
Well our governor is telling us how our medical system is broken and how the government needs to fix it.
I am not sure who I am more disappointed in, Gov. Arnold or President Bush.
Here sits Alaska with a $4.6 billion surplus this year. Gov Palin also asked the Congresscritters to back off on earmarks this year since it is not politick.
I wish I had Photoshop skills to insert Gore and Schwartzenneger into an image of Young Frankenstein...
... as Dr. Frankenstein and Igor...
Stop spending you dam fools. Isn’t it amazing that the general public knows what the problem is but the Governor and the State Legislature doesn’t get it? Or they just don’t care.....it’s not their money.
Yup. We were right to support the true conservative back when Tom was running against the Hollywood Hopeful and we’re right to support the true conservative vs. the Hollywood Hopeful today.
Why the smart money is on Duncan Hunter
The illegal immigration issue may just give us a way to elect McClintock as governor. I look forward to the effort.
FR circa 2004 ...
“But but but but, Schwartzenegger can WIN, and he’s a “front runner”.
See my tagline...
The Governor was hob-nobbing with luminaries last week at the California Hall of Fame, in his element. Meanwhile, the Titanic continues to take on red ink.
And people still wonder why this Country is sliding leftward...
Most politicians can do great photo-ops but political leadership is a lost art. We have managed to kill off, savaged or otherwise destroy anyone capable.
McClintock Ping List.
Please freepmail me if you want on or off this list
If we bail out the house flippers...maybe they can pay their property taxes....
oh wait, maybe not
I think if California quit spending a grave flaw in California economics would be revealed. So many jobs have been sent out of state that the private sector has no way to absorb the people that would be unemployed. I think it is the same reason the federal government could not cut spending with a Republican Congress earlier this decade. To many jobs have been moved offshore. Both California and the federal government are masking false economies that require they borrow and spend. We’ll see.
Slick Willard is Schwarzenegger writ large.
Beware the “electability” canard. Reject the liberal infiltrator.
Where are all the FReepers who voted for this clown???
We told you so.
Most of them have WAndered aWAy.
Not really. Romney is at least humoring us.
Schwarzenegger never pretended to be a conservative, except maybe on illegal aliens.
But there were quite a few FReepers (mostly gone now) who were happy to vote for him as an unabashed liberal anyhow. And those of us who said it was a bad idea were called all sorts of names, and laughed at.
Who's laughing now?
I agree with your theory. It's a house of cards and no one is willing to say the emperor has no clothes. When it all falls down, it's gonna hurt worse.
Bittersweet laughter, to be sure...
“Everything has to be provided for the people.” —A. Schwarzenegger
“Most of them have WAndered aWAy.”
Yea, probably the same geniuses who come on CA fire threads and complain about CA & those of us who live here.
I notice not a peep out of CA bashers in the Midwest who have to deal with their own tragedies this week.
Oh well. Colley-forrnya--go figger.
tell Ahnold less state spending = less greenhouse gas
They tried lying to sell more liberals on a conservative website and exposed themselves as trolls. Poof, gone! (or Zot!)
Nah.... I think Rudy is playing right out of the Schwarzenegger playbook.
Two peas in a pod.
So let's pile on. I propose an initiative to raise the Homeowner's Exemption to the median home price in California. Some might propose the average, which would be OK too. Either way.
Know why? Right now it's $7000, where it was in 1972. Adjusted for ordinary CPI, it would be $35000 or so. But that ain't nuthin' like California RE appreciation. It should -- and did -- track that prior to Prop. 13. I don't know the history, suspect they stopped incrementing it when 13 passed ( CCgirl can probably tell me ).
So if it was the median price, that's about $497,000 right now.
Instantly the funding crisis would be FAR LARGER.
This is a good thing. All of sudden, there would be hard choices to make: fund the actual needs of the citizens, and no more, or try to raise taxes to pay for the never ending, ever mushrooming needs of the illegals..which would be political suicide.
It has the further attraction of being the sort of simple issue that every homeowner understands. And it does not personalize anything. It is a straight issue: should you have low or no taxes on your home? After all...why should you live in fear of losing your residence?
The Republican Party in this state is clueless. This is a simple, direct way of once again gaining the loyalty of the working middle class in this state without dangling freebies in front of them. But they won't propose it since they are just as corrupt as the Dims here: all they really worry about is how much public contract money they will get, and "re-branding" the party to market some of their guys for election, so they can get at that money.
Now is the time to make the deficit even wider and drive the Socialist Lemmings off the cliff. But the CAGOP needs to be bypassed, since they have no interest and no clue how or why to do that.
Some other folks are definiely behind your plan—See AB293.
The link also includes a bunch of the history on prior attempts at changing the exemption.
PS... I didn’t know any of this, I just use google a lot. LOL
Tom is still my choice for governor, and will be next go around.
Now all he has to do is multiply by 10.
Good to see he's working on it. Would be better to go back to the initiative process again.
Bet there's a lot of people out there who are seriously in need of relief....like the folks who are facing re-sets on their mortgages.
Thanks for Googling!