|
|
|
 |
Donate Here By Secure Server
FreeRepublic , LLC PO BOX 9771 FRESNO, CA 93794
|
|
|
|
Posted on 01/10/2004 4:15:15 AM PST by calcowgirl
Highlights of Gov. Arnold Schwarzenegger's first budget:
* Size: $99.1 billion all funds, same as last year.
Largest sectors:
* K-12 Education, $30.3 billion
* Health, Human Services, $24.6 billion
* Community Colleges, Universities, $8.7 billion
Major revenue sources:
* Personal income tax, $38 billion
* Sales tax, $25 billion.
* Corporate taxes, $7.6 billion
Revenue forecast from taxes and licenses:
* Up $2.9 billion from this year.
Cost Cutting, transfers and savings:
* $14.3 billion
Includes:
* $4.6 billion in general fund spending cuts -- $999 million from the state business, housing and transportation agency, $880 million from Medi-Cal health insurance plan for the poor and disabled, $787 million from state welfare programs, $728 million from colleges and universities, $536 million from other health and human services and $438 million from youth and adult prisons.
* $3.9 billion in borrowing.
* $1.3 million in support for cities and counties not delivered.
* $1 billion in fund shifts
* $947 million in gasoline taxes not provided for transportation spending
* $2 billion from temporary suspension of education's guaranteed spending level.
Leftover deficit:
* Zero, assuming that voters approve a $15 billion bond issue in March.
|
|
|
|
|
Donate Here By Secure Server
FreeRepublic , LLC PO BOX 9771 FRESNO, CA 93794
|
|
|
|
What world is AP reporting from?
Current general fund expeditures are $78.028B. Schwarzenegger is proposing to reduce those expenditures to $76.062B next year. That's a decrease of $1.966B.
The figure being reported is the total amount of spending cuts within departments without regard to the spending increases within departments.
The italicized phrase should read
* $2.0B in general fund spending cuts and $2.6B in shifting priorites within all departments.
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.