Posted on 05/14/2012 3:24:51 AM PDT by tobyhill
(Democrat) California Governor Jerry Brown was elected in 2010 on a promise to fix the state's chronic fiscal crisis. His weekend announcement of a much bigger-than-expected shortfall in the state budget signals how far he still has to go.
In an unusual move that underscored the highly politicized nature of the state budget, Brown took to YouTube on Saturday to deliver the bad news: the state's projected budget deficit for the fiscal year starting July 1 is now $16 billion, up from the $9 billion anticipated in January.
The Democratic governor also warned of further cuts to an already-battered public education system if voters rejected a tax increase in a ballot initiative this fall.
On Monday, Brown will hold a news conference to detail the new budget deficit and how he intends to close it.
California, whose economy is the largest in the nation and would rank ninth in the world if the state were a country, has struggled for decades with a tax system in which property tax increases are limited by law and tax hikes of any kind must be approved by voter initiatives or a two-thirds vote of the legislature.
(Excerpt) Read more at reuters.com ...
They’ll be asking for a bailout from us soon. I promise.
It is amazing that the land of nuts and fruits, and governed
by total idiots and morons, would have the ninth largest economy in the world.
And tithe plan is to drive every last one who still pay taxes away.
..why isn’t he recalled?
California, the prime "entitlement/gimme" state is the text book example of how the whole nation is heading under Democrat leadership and this administration.
Maybe he should think about cancelling the 100 billion dollar Moonbeam Express train to nowhere.
If Brown is recalled, it would be by Democrats to replace him with someone more radical.
If I am not mistaken, that means that the California economy has actually dropped. It used to be 6th or 7th, back in the 80s. With a few more years of liberal leadership, CA can probably be pushed down a few more notches.
I’m a native Californian(though I’ve lived in The Northeast since 1989).I voted for Prop.13(Jarvis-Gann).I’m PROUD I did!!The ONLY solution to budget-deficits(according to DemonRats)is TAX-HIKES!!They NEVER consider cutting spending??????????????????????
——His weekend announcement of a much bigger-than-expected shortfall-—
Bigger than expected? By who?
The media needs to get out more. FRee-market economists who were expecting this.
And California is hardly hobbled by Prop.13. It’s the spending, you mediots!
This shortfall cannot be a surprise to people with common sense. It would be quite a surprise if California, run by Democrats, could actually demonstrate fiscal responsibility. But, as we all know, Democrats just know how to raise taxes, seek bailouts, increase out of state taxes, and forget about a budget. Oh, yes, and blame others including Bush.
I cannot believe that Democrats just do not seem to understand basic economics. The Dems have policies that punish the successful businesses with increased regulations and taxes, and then wonder why they are leaving the state.
$16 billion in the hole when will the dems cut useless spending (entitlements).
Albert eistein’s definition of insanity was doing the same thing over and over again...expecting a different outcome.
Maybe We the People can one day, in a defensive move, assemble a “play legislature”..and “play executive branch” for these fools to spend all day “regulating” and “taxing” to their hearts content..
If they’d only tax Hollywood at say 79% or so, there’d be rainbows and skittles for everyone. Sigh. So uptwinkles!
Until Hollywood discovers economics, and moves all operations elsewhere.
If I am not mistaken, that means that the California economy has actually dropped. It used to be 6th or 7th, back in the 80s.
What's tragic about this is that those 8 higher than California have also dropped....
If California whould have been at the same rate when No 5 would be much higher today.
Yeah, that'll work.
They obviously didn't anticipate an 80% increase in the deficit.
You are right about Democrats >driving hardworking ambitious people out of the State of California through regulations&taxes.
It’s being done on >purpose.
The Democratic politicians want political power; they are NOT really concerned with prosperity for Californians. It’s just typical ‘gangster-government’ where people in power prevent potential opposition.
Solidifying the political base typically entails >driving potential opponents out of a country, state or city. The ‘thugs’ in charge always claim they are doing for the good of the people remaining.
At this moment in history:
1. Republicans generally want to increase their political power by making >everyone wealthy with two running cars in the garage.
2. Democrats generally want to increase their political power by making the >population poorer with 4 or 5 non-running junker-clunkers parked in the front&backyards. No need to have a running-car when you get a “free” bus-pass with the welfare check.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.