Posted on 07/19/2010 9:54:19 PM PDT by Spktyr
There are supposed to be two ways to close a deficit: raise taxes or cut spending.
But a move is afoot in the Legislature to trim California’s budget shortfall through Sacramento's time-honored third way: making rosier revenue assumptions.
The Legislative Analyst's Office gave lawmakers just such an opening. Assembly Speaker John A. Perez (D-Los Angeles) said Thursday that Republicans and Democrats alike had agreed to cut $1.4 billion from the deficit by penciling in the rosier revenue forecast by the LAO, which anticipates more tax revenue than is projected by the state Department of Finance.
(Excerpt) Read more at latimesblogs.latimes.com ...
Not by cuts. Not by reducing services. Not by deporting illegals and chopping off benefits to people who cannot prove they are citizens. But by just wishing for more money to appear - by pulling numbers out of their arse.
How dumb can you get?
And now California is ‘inventing’ money to try to solve their problems? Explain how, exactly, this is supposed to work, now?
“making rosier revenue assumptions”
They have been doing that for the last few years. It still does not solve the basic problem of to much spending.
Alternately, they could enforce existing immigration laws.
Why does the word "ENRON" come to mind?
.
We don’t call it La La land for nothing. Peter Pan would have been proud!
I guess it is like “Wish Upon a Star”.
It is so cute and touchy feely, don’cha know.
Ha ha ha! This will make the inevitable crash and burn all the more painful. Keep wishing for the unicorns crapin’ out Skittles...
Mrs. POF just said that we are going to use the same financial planning strategies with our family. If there’s a shortfall and we can’t pay the mortgage, we’ll tell the bank that we had a “rosy forecast.” It may not have agreed with our paychecks, but what the heck? If it’s good enough for our State, it’s good enough for the POF clan.
Yeah, most everyone in America knows how “penciling in the rosier revenue forecast” worked out for this lamearse, idiot-ridden, Jack Squat administration.....ask lametard idiot herself, Christina Romer......=.=
Build prisons for illegals on the border with entry gate on north side an exit on south side.....
Leave south gate open ......
I envision sending more tax money this year to the California State Board of Equalization (the tax folks) than I actually will send in. If it’s good enough for them it should be good enough for me.
“How dumb can you get?”
Dood!
Denial is a powerful force.
They just keep digging the state into a deeper hole.
Reality will have its way sooner or later. It looks like they’ve chosen the crash landing approach instead of a vaguely controlled descent.
They’re going to get a big, federal bailout comprised of made up money - which is pretty much the same thing as wishful thinking.
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