Tick Tick Tick Tick..
No, that’s not the lead-in to 60 Minutos.
She’s gonna blow, Cap’n.
Giddyup.
It’s really simple, Kahleefornia. CUT THE FAT!
You can no longer afford it; if you ever really could.
Why can’t I find anybody to buy my debt. Geez, I’ll give them a great deal.
May Revision Proposes Over $21 Billion In New Budget Solutions (In Billions) Borrow to address budget deficit with RAWs $5.5 Reduce Proposition 98 spending for K-14 education 5.3 Borrow local property tax revenue by suspending Proposition 1A 2.0 Increase personal income tax withholding by 10 percent 1.7 Reduce Medi-Cal spending (various proposals) 1.1 Replace state funding for UC and CSU with federal stimulus money 1.0 Sell parts of State Compensation Insurance Fund 1.0 Accelerate receipt of estimated tax payments 0.6 Reduce In-Home Supportive Services spending (various proposals) 0.5 Use spillover sales tax revenues for transit bond costs 0.3 Reduce prison population and change sentencing laws 0.3 Reduce SSI/SSP grants to federal minimum 0.2 Identify additional Developmental Services savings 0.2 Other proposed solutions 1.5 Total $21.3
Mac Taylor Discusses the LAO’s Analysis of the 2009 May Revision
(comments to the media this morning)
http://www.lao.ca.gov/2009/webcasts/may_rev_052109/may_rev_052109.aspx
But how are California taxpayers supposed to fund embryonic stem cell and alternative fuel research and protect “endangered” species?