Skip to comments.
California: How deep is budget hole? Deeper than politicos admit
Sacramento Bee ^
| March 21, 2004
| Dan Walters
Posted on 03/21/2004 8:11:58 AM PST by John Jorsett
Edited on 04/12/2004 6:07:25 PM PDT by Jim Robinson.
[history]
Everyone knows that California is in a deep fiscal crisis and has been running up multibillion-dollar budget deficits, which its politicians have covered over with an imaginative variety of bookkeeping gimmicks and on-and off-the-books loans.
But just how deep is our budgetary hole? The gimmicks make that a very difficult question to answer. Take, for instance, a trick involving the "net operating loss carryforward," which allows corporations to carry forward operating losses from one year into subsequent years to offset profits, thereby lowering their corporate tax bite.
(Excerpt) Read more at sacbee.com ...
TOPICS: News/Current Events; US: California
KEYWORDS: calbudgetcrisis; calgov2002
To: John Jorsett
and yet very little will change on the spending side. ~sigh
2
posted on
03/21/2004 8:24:14 AM PST
by
Drango
(2 FReep is 2B --- 2B is 2 FReep)
To: Canticle_of_Deborah
ping
To: John Jorsett
Did The Terminator step into a job possibly too big for even him?
4
posted on
03/21/2004 8:27:41 AM PST
by
xJones
To: John Jorsett
DEEP
5
posted on
03/21/2004 8:32:31 AM PST
by
Enterprise
("Do you know who I am?")
To: Enterprise
"California: How deep is budget hole? Deeper than politicos admit "
if it gets any deeper; they're gonna finally find jimmy hoffa...
6
posted on
03/21/2004 10:36:10 AM PST
by
hoot2
To: hoot2
LOL
To: John Jorsett
BTTT
8
posted on
03/21/2004 11:00:53 AM PST
by
jokar
(After all, they're not Americans, they're only journalists)
To: John Jorsett
It's as if the accountants who advised Enron Corp. on overstating assets and revenues and hiding liabilities and expenses made their way to Sacramento to ply their tricky trade. The state makes Enron look like amateurs.
To: calcowgirl
Heck, not one single sucker has been sacked from a state job.....Kalifornia is just plain BROKE.
10
posted on
03/21/2004 6:05:07 PM PST
by
pointsal
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.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson