Will Democrats' rosy-scenario budget work?

Sacramento Bee ^ | 6/28/11 | Dan Walters

[SmithL]

When governors and legislators face seemingly big budget deficits, they often turn to gimmicks to balance income and outgo on paper.

The most creative have been what Capitol cynics call "rosy scenarios."

The politicians conjure up some new source of revenue, swear it is legitimate and then use the projected windfall to close their gap.

Former Gov. Arnold Schwarzenegger was an early advocate of rosy scenarios, such as assuming that the state could get as much as $1 billion from new gambling compacts with Indian tribes, or it could seize a half-billion dollars from punitive judgments in lawsuits.

Later, he counted revenues from peddling the state's workers' compensation insurance business and state buildings. His rosiest scenario occurred last year, when his initial budget assumed that the federal government would give the state as much as $7 billion in extra cash.

None of those funds materialized, but that doesn't prevent Capitol politicians from dusting off another rosy scenario.

[SmithL]

It will work as well as any of their "smoke & mirrors" budgets have ever worked, BUT it will allow then to be paid, and that's the important thing.

[Personal Responsibility]

This is basically what Enron did. They went to jail.

[FrankR]

The best indicator of future success is past performance, and the obama/democrat performance is a four-letter word...

FAIL

[sickoflibs]

RE :”When governors and legislators face seemingly big budget deficits, they often turn to gimmicks to balance income and outgo on paper. The most creative have been what Capitol cynics call “rosy scenarios.” The politicians conjure up some new source of revenue, swear it is legitimate and then use the projected windfall to close their gap. ...None of those funds materialized, but that doesn't prevent Capitol politicians from dusting off another rosy scenario.”

My two favorite phony revenue increasers are the cigarette tax and tax increases on the rich. The cigarette tax increases brings in little, especially when the same liberals are outlawing smoking itself. Tax increases on ‘the rich’ are bound to bring some revenue (yes) but the CBO estimates are completely phony (optimistic.) If congress proposes that income taxes on a certain group is increased to 100%, the CBO assumes that group will still earn the same taxable income they did when their tax rate was say 35% just to hand it all over to the IRS. It's a joke.

Maryland Dems raised both of those taxes and collected even less revenue from them than before the increase. But they raised our sales tax too.

[Freedom_Is_Not_Free]

Only deep state spending cuts will make California fiscally sound.

Since this budget lacks deep spending cuts - no, it won’t work.

[Carry_Okie]

When smoke and mirrors don't work, just lie.

They're used to it; they've been doing it for years.

[stephenjohnbanker]

” Maryland Dems raised both of those taxes and collected even less revenue from them than before the increase. But they raised our sales tax too. “

You had a mass exodus of wealthy Maryland folk to other states, like Florida.

[Marine_Uncle]

The joys of living in blue states. PA taint far behind you in how many clowns run the state show.

[sickoflibs]

That was just a partial list for Maryland:

Loopholes for illegals getting divers licenses

College tuition (in state discount) for illegals going to state schools

Forced green energy after campaigning for stopping prices
from rising’

Same sex marriage (the black Democrats here actually stopped him one that one, like in CA)

Multiple tax increases

Speed cameras to send you fines

I will take Christie in a heart-beat HERE even if he has some positions I disagree with.

Our last RINO governor got beat by O Malley being crusified after being trapped (standard method) into going along with some tax and mostly bogus fee increases after swearing not to raise taxes. Standard stuff, the Dem assembly kept sending him spending bills he was scared to veto like education bills. So he lost anyway, giving in got him nothing.

[SunkenCiv]

Thanks sickoflibs.