California Has More Money Coming In Than It Knows What To Do With It

Business Insider ^ | 05/27/2013 | Rob Wile

[SeekAndFind]

California now has so much projected revenue that Sacramento legislators don't what to do with it, The New York Times' Adam Nagourney reports.

The final budget surplus figure for 2014 will fall somewhere between $1.2 and $4.4 billion, depending on who's counting.

"An unexpected surplus is fueling an argument over how the state should respond to its turn of good fortune," writes Nagourney.

Just three years ago, of course, the state was running a $60 billion deficit.

The surplus is almost certainly the result of wealthy Californians trying to bank capital gains before the Bush tax cuts expired, Nagourney says.

[Mastador1]

I can’t count how many times we in Taxifornia have been told about future surpluses only to be begged to approve TEMPORARY tax increases when the surplus (as always) fails to occur! If the information is coming from the idiots in charge, you know it’s BullSh*t! Jerry Brown hasn’t told the truth since the delivery Doctor slapped his A**!

[<1/1,000,000th%]

So 2015 will have a $100 billion deficit.

[mosesdapoet]

Laying eggs;
You know I spent better part of two hours working up my egg routine because I wanted to get the concept of candling an egg ie examining for fertility hence yield. But I’ll bet 97 out of hundred aren’t familiar with the term nor would seek its meaning. Then you follow up with yours

“It’s like that farmer counting the eggs those future chickens will lay and the eggs those eggs will lay in the future”....which works better,but still needs which came first, some work.

[GeronL]

lol. Yes, or like counting your grand children before your even making kids.

Which came first... the chicken farmer... or chicken rancher... or something

[hinckley buzzard]

That was my reaction. Remember the Clinton's projected trillion dollar surplus in 2000? We've seen this song and dance before. Projected surpluses have a way of evaporating with the morning dew. A-H Nagourney knows it damn well too, but he has a career to consider.

[King Moonracer]

A budget surplus??? Alert the prison guard union.