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Shortfall in California’s Budget Swells to $16 Billion
New York Times ^ | May 12, 2012 | ADAM NAGOURNEY

Posted on 05/12/2012 5:06:21 PM PDT by reaganaut1

The state budget shortfall in California has increased dramatically in the last six months, forcing state officials to assemble a series of new spending cuts that are likely to mean further reductions to schools, health care and other social programs already battered by nearly five years of budget retrenchment, state officials announced on Saturday.

Gov. Jerry Brown, disclosing the development in a video posted on YouTube, said that California’s shortfall was now projected to be $16 billion, up from $9.2 billion in January. Mr. Brown said that he would propose a revised budget on Monday to deal with it.

“We are now facing a $16 billion hole, not the $9 billion we thought in January,” Mr. Brown said. “This means we will have to go much further and make cuts far greater than I asked for at the beginning of the year.”

Mr. Brown disclosed the news in a video that had all the trappings of a campaign announcement. In it, he aggressively accounted for the steps he said he had taken to try to scale back a $26 billion deficit he found upon taking office. And he urged viewers to back an initiative he is putting on the November ballot that would increase sales taxes by 0.25 percent and impose an income tax surcharge on wealthy Californians to try to stave off more cuts.

State officials said Mr. Brown’s proposal would include a package of immediate cuts, as well as others that would be triggered only if voters failed to approve his tax plan. The sales tax increase would expire after four years, while the income tax surcharge would last for seven years.

State officials said the shortfall was a result of disappointing revenue collections in April as California continued to struggle to pull out of the recession.

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


TOPICS: Government; US: California
KEYWORDS: goldenstate; moonbeam; rats; taxandspend

1 posted on 05/12/2012 5:06:30 PM PDT by reaganaut1
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To: reaganaut1

Raise those taxes, watch those businesses and rich people leave, watch that revenue continue to fall.


2 posted on 05/12/2012 5:09:13 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: reaganaut1

The important thing is that they purged all those darned capitalists from their state. Now all they have to do is “tax the rich and feed the poor, ‘til there are no rich no more”, and everything will be free and nobody will have to work ever again.

And then they will destroy all the machines, because it is they who are to blame for pollution and destroying nature.

It will be The Age of Aquarius. With, like, cannibalism.


3 posted on 05/12/2012 5:14:20 PM PDT by yefragetuwrabrumuy
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To: yefragetuwrabrumuy

If so, then, like, Governor Moonbeam should be the first to be eaten.


4 posted on 05/12/2012 5:16:47 PM PDT by Cicero (Marcus Tullius)
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To: reaganaut1
“This means we will have to go much further and make cuts far greater than I asked for at the beginning of the year.”

How about a 100% tax on total personal wealth upon leaving the state for ALL people in California?

An EXIT tax.

5 posted on 05/12/2012 5:17:55 PM PDT by EGPWS (Trust in God, question everyone else)
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To: reaganaut1

Cooking the books with rosy revenue projections doesn’t negate the need for real cash.


6 posted on 05/12/2012 5:23:45 PM PDT by umgud (No Rats, No Rino's)
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To: GeronL
How about a Linda Rhonstadt concert to save California?

Photobucket

7 posted on 05/12/2012 5:24:40 PM PDT by EGPWS (Trust in God, question everyone else)
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To: yefragetuwrabrumuy

Here’s an idea: import more Illegals. And free contraception. That’s the ticket! [/s]


8 posted on 05/12/2012 5:28:01 PM PDT by rbg81
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To: reaganaut1

Couldn’t happen to a better state.


9 posted on 05/12/2012 5:30:54 PM PDT by familyop ("Wanna cigarette? You're never too young to start." --Deacon, "Waterworld")
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To: EGPWS

wow. What happened to her?


10 posted on 05/12/2012 5:36:29 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: yefragetuwrabrumuy

That is apparently how the Kalipornia liberal thinks


11 posted on 05/12/2012 5:38:37 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: reaganaut1

Can’t they just buy a unicorn that has “we love children” branded into its head and that farts out billions of dollars in golden coins?


12 posted on 05/12/2012 5:41:34 PM PDT by BRL
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To: reaganaut1

(...forcing state officials to assemble a series of new spending cuts that are likely to mean further reductions to schools, health care and other social programs)

Notice that cutting salaries or benefits to State union employees is somehow never part of the choices, God forbid! Once they have cut all services to taxpayers, all of the taxpayer revenues will go toward state employee salaries and benefits, and those employees will be...doing what exactly? Oh, that’s right, they will be deployed to collect more and more fees from the producers!

(California’s shortfall was now projected to be $16 billion, up from $9.2 billion in January.)
Can’t cook the books forever! We should all believe government statistics, especially when we see a deficit jump more than 42% in an allegedly improving economy!


13 posted on 05/12/2012 5:43:08 PM PDT by winner3000 (ss)
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To: GeronL
What happened to her?

After dating Moonbeam she got weird and let herself go. ; )

14 posted on 05/12/2012 5:43:08 PM PDT by EGPWS (Trust in God, question everyone else)
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To: GeronL
yes...why don't those idiot, spoiled thieves try drastically reducing their bloated pensions and salaries! What a bunch of legal criminals.
15 posted on 05/12/2012 5:43:24 PM PDT by fabian (" And a new day will dawn for those who stand long, and the forests will echo with laughter")
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To: GeronL

Rinse...repeat...rinse...repeat...etc


16 posted on 05/12/2012 5:53:07 PM PDT by Hotlanta Mike (Resurrect the House Committee on Un-American Activities (HUAC)...before there is no America!)
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To: GeronL

17 posted on 05/12/2012 6:08:22 PM PDT by 4Liberty (88% of Americans are NON-UNION. We value honest, peaceful Free trade-NOT protectionist CARTELS)
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To: fabian

They never want to cut their own salaries, benefits and pensions. Maybe it is beginning to dawn on a few of them that raising taxes is bringing in less revenue but they will just go into denial mode.


18 posted on 05/12/2012 6:08:46 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: GeronL

Yes...that denial is a real devilish thing!


19 posted on 05/12/2012 6:09:59 PM PDT by fabian (" And a new day will dawn for those who stand long, and the forests will echo with laughter")
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To: Hotlanta Mike

they can keep repeating but the returns keep deminishing


20 posted on 05/12/2012 6:10:31 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: EGPWS

Moonbeam should be forced to wear a warning label


21 posted on 05/12/2012 6:11:05 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: winner3000

They should send a delegation to Bismarck to learn how adults deal with finances, taxes, OIL and the wealthy.


22 posted on 05/12/2012 6:11:05 PM PDT by Minnesota fox
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To: 4Liberty

That is far too complicated for the liberals. :p


23 posted on 05/12/2012 6:11:42 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: reaganaut1

California is the Greece of this country.
What is scary is that the rest of us states will be called upon to “save” California.

This I will fight with every fiber of my body.


24 posted on 05/12/2012 6:11:50 PM PDT by bestintxas (Somewhere in Kenya, a Village is missing its Idiot, thankfully.)
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To: GeronL; EGPWS

Linda’s Half-Mexican female side began to spread years ago. And that side has just kept on spreading. A shame for what she was in the mid ‘70’s.


25 posted on 05/12/2012 6:25:29 PM PDT by TaMoDee ( Lassez les bons temps rouler dans les 2012! Go Pack Go!)
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To: GeronL
What happened to her?

Same thing that happened to millions of Americans. :•)

26 posted on 05/12/2012 6:25:29 PM PDT by Misterioso (I voted Republican all my life and all I got was a communist president.)
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To: TaMoDee

She has expanded like the California budget!


27 posted on 05/12/2012 6:27:41 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: EGPWS
The First Lady of Rock was once in the running for First Lady. She broke the mold, no kids.


28 posted on 05/12/2012 6:28:45 PM PDT by Reeses
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To: Misterioso

I have always been expansive. lol


29 posted on 05/12/2012 6:31:27 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: reaganaut1

John and Ken on KFI 640am report that Cali spends about 3 times more per state prisoner than Texas and Florida spend. Also, Cali has about 12% of the nation’s population, but about 30% of all the welfare recipients. Combine those two things with all the bloated salaries, pensions, and healthcare of all the state workers and you have a fiscal disaster around the corner!


30 posted on 05/12/2012 6:37:51 PM PDT by Veggie Todd (I don't mind you hitting me, Frank, but take it easy on the Bacardi.)
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To: reaganaut1

sorry IRS I seem to have a shortfall of money to pay my taxes this year.Hope they understand.


31 posted on 05/12/2012 6:56:15 PM PDT by bikerman (you can take the man out of the jungle but can't take the jungle out of the man)
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To: GeronL

Too much food and age; it will do it every time.


32 posted on 05/12/2012 6:58:00 PM PDT by MSF BU (n)
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To: MSF BU

See Post #25. Genes involved also.


33 posted on 05/12/2012 7:15:03 PM PDT by TaMoDee ( Lassez les bons temps rouler dans les 2012! Go Pack Go!)
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To: EGPWS

I think you’ve got it. Just draft all the singers, musicians, actors, etc. from Hollywood and make them perform for free at performances for the public all year. Just charge the public a fee for watching based upon their weight, political preference, union status, green-ness, etc. Other than a slight inconvenience for the performers, the scheme should easily cover any “unexpected” shortfalls.


34 posted on 05/12/2012 7:45:25 PM PDT by RetiredTexasVet (There's a pill for just about everything ... except stupid!)
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To: reaganaut1

My, my. He might even find that 16 billion grows to 26 billion again.


35 posted on 05/12/2012 8:21:35 PM PDT by newzjunkey (I advocate separation of school and sport)
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To: reaganaut1

Taxes: The new herpes.


36 posted on 05/12/2012 9:10:54 PM PDT by Trod Upon (Obama: Making the Carter malaise look good. Misery Index in 3...2...1)
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To: Minnesota fox
They should send a delegation to Bismarck to learn how adults deal with finances, taxes, OIL and the wealthy.

They already sent one delegation to Texas to discover our secret to success, but when they went home, they immediately went right back to doing the same crap they've been doing for thirty-plus years now.

You see? Even solid, firsthand evidence doesn't penetrate liberal thinking.

37 posted on 05/12/2012 9:37:01 PM PDT by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: yefragetuwrabrumuy
It will be The Age of Aquarius. With, like, cannibalism.

It has been said that after socialism comes communism....

and after communism....alcoholism.

38 posted on 05/12/2012 10:13:18 PM PDT by spokeshave (If Obama is Lenin....who are Trotsky and Stalin...?)
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To: GeronL

She ate Bartow


39 posted on 05/13/2012 4:55:41 AM PDT by Joe Boucher ((FUBO) Hey Mitt, F-you too pal)
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To: GeronL

Just keep on importing more poverty with the highest welfare benefits in the country...


40 posted on 05/13/2012 3:50:18 PM PDT by Hotlanta Mike (Resurrect the House Committee on Un-American Activities (HUAC)...before there is no America!)
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To: reaganaut1

How to Detroitify an entire state.....courtesy of the Democrat Party. Eagerly looking forward to completion on a national scale!!


41 posted on 05/13/2012 3:56:50 PM PDT by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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To: reaganaut1

How to Detroitify an entire state.....courtesy of the Democrat Party. Eagerly looking forward to completion on a national scale!!


42 posted on 05/13/2012 3:56:56 PM PDT by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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To: Hotlanta Mike

bump


43 posted on 05/13/2012 3:57:45 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: mo

Exactly....Only until the whack left green liberals get the hell out of Sacramento will anything change. This state is in the shitter!


44 posted on 05/14/2012 9:41:30 AM PDT by AngelesCrestHighway
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To: reaganaut1

45 posted on 05/14/2012 9:44:58 AM PDT by AngelesCrestHighway
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