CA: Controller raises borrowing estimate

Sac Bee ^ | 3/6/03 | AP

[NormsRevenge]

The state controller is raising his estimate of how much California will have to borrow this summer as a stalemate over budget cuts and vehicle license fee increases drags on in the Legislature.

Controller Steve Westly says the state will have to borrow $4 billion to $11 billion in June to keep its operations running as lawmakers try to erase a budget deficit that could reach $34.6 billion over the next 16 months.

[NormsRevenge]

fwiw Ping

[Parley Baer]

And what have the democRATS who control the state have done about the budget in the last year and a half. Absolutely nothing. Even had an emergency meeting the first of the year. The out come was nothing happened. The downward spiral continues. Parley

[Ernest_at_the_Beach]

She indicated that Assembly Democrats are waiting for some assurance from Westly and the Department of Finance that current law will trigger a VLF increase later this year to help with the state's budget problems.

Now that is choice!

calgov2002:

calgov2002: for old calgov2002 articles. 

calgov2002: for new calgov2002 articles. 

Other Bump Lists at: Free Republic Bump List Register

[Amerigomag]

including weaker-than-expected revenues

This is bull.

Even if Westly inherited numbers that were falsified, it is inexcusable that any projections were based on them.

Sounds like Westly is part of the mob instead of the solution.