Posted on 07/28/2009 3:15:03 PM PDT by La Enchiladita
SAN FRANCISCO (Reuters) - California Governor Arnold Schwarzenegger signed a package of bills on Tuesday to balance the state's budget, which should allow the state to stop issuing IOUs instead of paying bills and to prepare for a crucial sale of short-term debt.
After weeks of negotiations, the Republican governor and top lawmakers in the Democratic-led legislature early last week agreed to several measures to close the state's massive budget deficit of more than $24 billion.
On Friday, the legislature passed many of the measures to close most of the gap but left it to Schwarzenegger to use line-item cuts to fill in the rest of the shortfall.
Schwarzenegger said in a statement his signed budget would plug the deficit largely with spending cuts of $16.1 billion and some one-time moves while excluding tax increases. It also maintains a $500 million reserve, which analysts have said the state government likely will need should its revenue slump persist.
California also wants to have reserve to impress investors as the state plans to issue either short-term revenue anticipation notes or revenue anticipation warrants in the near future to raise money to bolster its cash account.
(Excerpt) Read more at reuters.com ...
* Education spending will lose $9.3 billion.
* Spending by health and human services will drop by $3 billion.
* General government spending will fall by $1.7 billion.
* State employees will see pay cuts through three furlough days a month for savings $820 million.
* Prison spending will drop by $785 million.
* Vetoes will cut a miscellaneous $489 million.
Our children will start failing at alarming rates if education money is cut. /s
They have already cut about $70 a month for SS recipients. You know, the people who really need it. Blind, disabled etc.
* General government spending will fall by $1.7 billion.
How about 17 billion?
* State employees will see pay cuts through three furlough days a month for savings $820 million.
LOL, they have already been on furlough 3 days a month, and also have been cut in pay 25%
Oh, and those "days" are 10 hour days.
Exactly. And that is why the “legals” are taking even deeper cuts. However, they are the sheeple who vote for Dems. Right-minded people will continue to flee the state.
What does that have to do with the budget?
You just want to hijack the thread into an Arnold bashfest, and drag your sensitivity about Palin into it. Imagine my surprise.
And yes, she quit barely halfway through one term as a Governor and Arnold is in his second term. At least he and conservative Republican legislators stayed in there to do the hard work. You try being Governor of CA sometime.
Wow, a little sensitive. I had a couple of odds and ends vaguely related, and pinged my small group in another in a long string of “I’m getting offline now” messages.
Why don't you give that very same suggestion to the idiot movie star you fools elected.
Maybe you should go back to lurking. Your post is completely un-original.
Bite me, noob.
CA children have already been failing for more than a decade thanks to the liberal policies enacted by liberals who control the state Gov, but who have not ever stepped foot into a public school classroom to know what goes on. This occurs despite the amount of money being spent on education in this state.
I’m on the same page with you. My comment did have a sarcasm tag.
* Education spending will lose $9.3 billion.
* Spending by health and human services will drop by $3 billion.
* General government spending will fall by $1.7 billion.
* State employees will see pay cuts through three furlough days a month for savings $820 million.
* Prison spending will drop by $785 million.
* Vetoes will cut a miscellaneous $489 million
.
Hey 0bozo you turd, and the rest of you Congressional House & Senate turds (especially the socialist DimWits & RINOs), see that wasn't so hard was it??? Government actually can cut & reduce spending without the world caving in. For once Californicate did something right, by CUTTING SPENDING YOU LIBERAL RETARDS!!! NOW GET GOING YOU FRIKKIN DIMWITS & 0BOZO!!! QUIT SPENDING OUR COUNTRY INTO BANKRUPTCY!!!
I realized that. My point was about what the rats have done with their policies in CA.
Thank you and your family lineage of service.
Thanks to you for your kind words.
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