[SmithL]

Tax and spend, it's what they do.

[doug from upland]

Who would want to invest in California bonds?

[Attention Surplus Disorder]

California sales tax revenue down 33.5% vs estimates

Compared to Budget

Total Revenues: -$475 million (-10.1%)

Income Tax: $12 million (0.4%)
Sales Tax: -$295 million (-33.5%)

Corporate Tax: $57.1 million (27.4%)

Compared to 2011

Total Revenues: -$468.8 million (-10%)
Income Tax: $156.2 million (5%)
Sales Tax: -$390.7 million (-40%)
Corporate Tax: -$26.4 million (-9.1%)

sales tax down 33%? That is enormous.

[tired&retired]

Let’s see, simple math.

If $91 billion reflects an 11% cut, then $91/.89 = $102.2 billion original general fund spending.

If off budget spending went from $26.7 billion to $39.4 billion then it increased $12.7 billion.

Current general fund spending of $91 billion plus the increase in off budget spending of $12.7 billion equals total comparative spending of $103.7 billion. Wow, that’s actually an increase in spending being sold to the public as a decrease! That’s also how Clinton made it appear he had a surplus!