Posted on 03/13/2009 10:44:43 AM PDT by NormsRevenge
The Legislature's budget analyst, Mac Taylor, declared today that the immense package of spending cuts, new taxes and loans aimed at closing the state's $40 billion budget deficit will fall short by $8 billion because the state's economy is continuing to falter.
"Unfortunately, the state's economic and revenue outlook continues to deteriorate," the Legislative Analyst's Office (LAO) said in a review of the package, which covered the remainder of this fiscal year and all of the next.
"Even in the few weeks since the budget was signed, there have been a series of negative developments. Our updated revenue forecast projects that revenues will fall short of the assumptions in the budget package by $8 billion. Consequently, the Legislature and governor will need to adopt billions of dollars in additional solutions in the coming months to bring the 2009-10 budget back into balance."
Taylor had some more bad news for the state's political leaders. Because so many of the "solutions" adopted last month are temporary, "without corrective actions, the state's huge operating deficits will reappear in future years - growing from $12.6 billion in 2010-11 to $26 billion in 2013-14."
(Excerpt) Read more at sacbee.com ...
I wonder why 8-?
Hmmmm, well you cut aid to illegal aliens that free’s up about 4-5 billion...
Ridiculous amount of spending. Taxing the sh*t out of people in order to support these Dems crazy welfare programs and environmental whackos has completely ruined this state...Good job you guys, good job.
We haven’t even gotten into the fire season yet. Wonder what that is going to do to the budget. Obviously something isn’t working here guys.
Its because of people like my brother who is moving from California to Georgia.
It has driven me out of the State. California has said to me “how DARE you work hard and make good money? Well, we are going to take it away from you.”
I won’t stay where I am not wanted. And, since I am preparing to leave, we are not purchasing anything other than the minimum things we need to exist.
I am sure I am not alone.
As Californians circle the drain, they can be sure their elected leaders will reach out one last time to........................ pull the flush handle again.
Yeah, it’s getting pretty close to that for me. It’s tough because my family is here and I love San Diego.
God, I sure hope they don’t have to touch the commissions. We must retain them at all cost. /s
Hey, how about CA sells themselves to that billionaire drug lord who just made the forbes billionaire list?
He could turn it into one big pot farm.
Stupid is as stupid does...
Unbelievable...
What will Maldonado’s price be for the next round of taxes?
How about 2 or 3 new dams ? lol
No telling how many plantations there are in federal lands out here.. worked by illegals and for cartels. but it is a lot. Stay on the trails is my advice.
That the out of control leftist morons who run the state have reduced the great state of Ca. to a blundering, sinkhole is a travesty! If anything we can only hope it serves as a colossal lesson of the rotten fruits of liberalism run amok.
After all the damns he got last time?
Texas seems to be attracting quite a few tax refugees from California and elsewhere. No state income tax and a budget surplus - go figure.
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