Posted on 08/11/2009 7:03:32 PM PDT by Amerigomag
State Controller John Chiang released yesterday a monthly report comparing the state's financial situation in July 2009 to the same month last year.
Here are some key figures from the report:
General Fund revenue in July 2009 dropped $365 million (-8.0%) from July 2008.
Through July, the state had $4.4 billion in receipts and $9.4 billion in disbursements on the books.
The state issued $1.493 billion in I.O.U.s in the month of July.
Personal income taxes came in $335 million below (-11.5%) last July.
Corporate taxes in July were $18.9 million (9.1%) higher than last July.
Sales taxes in July were up $185 million (20.8%) from last year.
(Excerpt) Read more at sacbee.com ...
If you are a graduate of the Calfornia school system, as most of the Dumbocrats in the legislature are, then your equation makes since. SAD!
WTH! They are running a $5 billion a month defecit! That is $60 BILLION a year!!
Well the illegal aliens ENDLESS benefits cannot be cut - we already know that.
The actual report (summary) is pretty darn dismaying. And I’m not even from CA!
http://www.sco.ca.gov/Files-ARD/CASH/08-09summary.pdf
Anybody know if this guy Chiang is a Dem. or a Pub.?
I think they are running a $5 billion deficit in 7 months of 2009 (through July.) I’d have to go back and re-read to be sure...
>> Corporate taxes in July were $18.9 million (9.1%) higher than last July.
???
$4.4 B + $0 = $9.4 B. Obama’s Magic Math. As it is cocktail hour in Honolulu, I have nothing to say but.....pffftttt......
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