[Amerigomag]

In addition to the recent horse trades involving Prop 98 guarantees Prop 76 also authorizes a 15 year payback period for the other accounting gimmicks that the legislature and the governor sanctified.

The estimated value of the deferrals that resulted from these additional accounting gimmicks is about $1B. Combined with the Prop 98 offsets, that's about $5B in borrowing or deferred replenishment from the General Fund that Prop 76 authorizes.

[calcowgirl]

Add to that the remaining $2 billion balance on previously borrowed Prop 42 funds (and any amounts borrowed next year, specifically allowed by the Prop 76 language). Those also will be deferred. Here was my last tally:

http://www.freerepublic.com/focus/f-news/1491663/posts?page=67#67

Assuming all of the 2005-06 Prop 42 funds were restored, we come up to $7 billion in deferrals, as of this year.