California Deficit Skyrockets

Fox ^ | 12/20/02 | Anita Vogel

[hoosierskypilot]

LOS ANGELES — California Gov. Gray Davis this week reported a massive budget shortfall, despite the fact the state was enjoying a $10 billion surplus when he entered office four years ago.

"The shortfall is $34.8 billion, far more than any expert predicted," Davis said Thursday, announcing his administration's budget projection for the next 18 months.

Davis blames the poor economy and a decline in tax revenue, due in part to the burst of the technology bubble and the subsequent fallout in the stock market.

But critics say the real problem is the 35 percent increase in state spending that has occurred since Davis took office.

"Any of the budget experts saw this coming. They've been warning about it for three years and said you've got capital gains boosts coming from the stock market. Don't spend that money put into capital projects, put it into reserves," said Republican strategist Arnold Steinberg.

Davis is now proposing as much as $10 billion in cuts for education and health care programs.

[hoosierskypilot]

Can you say, "Socialism doesn't work?"

Seriously, Davis took office with a multi-billion dollar surplus. In just a couple of years, there's now a multi-billion dollar deficit. Nobody can be that imcompetent. Can they?

[Cicero]

He knew that the media would cover for him.

And they will continue to cover for him a) because he is a big-spending Democrat; and b) because they can't admit that it's largely their fault for helping him to get away with it.

The bottom line for Davis was to buy popularity and buy campaign funds. And got reelected on that basis, with assiduous help from the liars in the media, who are pretending that they are shocked, shocked at this sudden discovery of the deficit after the election is over.

[VRW Conspirator]

"The shortfall is $34.8 billion, far more than any expert predicted," Davis said Thursday, announcing his administration's budget projection for the next 18 months.

Liar

[pke]

One too many sex changes for state workers paid for with CA taxpayers money, thats all. But when your taxes are going for a variety of great things like that it's worth bankrupting your state!

[truth_seeker]

There will be much hand wringing, to go from current year, to future year budgets.

A shortcut would be to simply use the budget, from the last year that it was in balance (or surplus).

So, if for instance that was 1999, then the NEXT budget would be 1999 (base) plus agreed changes.

As a former budgeting officer, of a couple of corporations, this idea is FAR too simple (logical, wise) for it to work in government.

I remember "zero based" budgeting--pretty good conceptually. Goverment should constantly be under scrutiny, lest their built in inefficiency, chronyism, corruption, take hold a jack up costs.

Witness, in Orange County, CA we have another budget problem. Not as big as the bond ripoffs, it is still a classic of government minmanagement.

[Husker8877]

Before the elections, Davis told California that the deficit may go as high as $10 billion or more. That was bad enough. The idiots in California re-elected the Clinton c**ks**ker.

A day after the election, Davis said the deficit was about $20 billion really, and maybe a little more.

Now it's $35 billion. How long until we discover it's actually $50 billion or more?

G*dd*m incompetent clintonite Davis!

[Joe Boucher]

Come on now don't hold back there husker now let it rip, I mean let us all know what you really think.
I used to live in Calif. Got out about 25 years ago because I could see then it was going down the toilet.
Now we'll have to listen to all the handout queens bitching
because they will have to find another daddy to tap.

[BreitbartSentMe]

$10 billion in cuts for education and health care programs.

All the soccer moms in California are soon going to be cursing the very mention of the name "Gray Davis" After the school districts get through dealing with mid-year funding cuts, and lowered funding for next year than anticipated, there goes all the frills in education: Class Size Reduction, Music, Arts, Sports programs, etc., etc., etc. Add to that the fact that when you get rid of class size reduction (that took K-3 class sizes down to 20-1) there go a whole lot of teaching positions. That ought to really piss off the education union lobby.

Even if he weren't term-limited out of the Governor's office, his presidential hopes (if he really had any left) have gone up in smoke, along with our past budget surplus. That's the only consolation I have since Simon didn't win. At least he isn't the one to have to clean up this mess. The moron that created it does, and gets tagged with the stink of it forever.

Karma is a beautiful thing to behold!!

[SamKeck]

At least some genesis of the current economic slow down can be laid at the feet of the California power deregulation fiasco that was exacerbated by the indecisive and incompetent Gray Davis and his cabal of political footpads; and until the California drag on one-tenth of the national economy begins to ameliorate, the entire GDP will continue to suffer.

Then again, the 'crats have all their usual answers: raise taxes on consumers and drive what few small small businessmen who still remain out of State entirely. Yeah, that'll work. Bah!

[Paulus Invictus]

Can you say illegal immigration doesn't work? Can you say Proposition 209?

[Digger]

It's happeneing in most states. My reasoning is because of this "Two-Party Cartel". There is absolutly NO competition in an election. Oh yea, they will argue over who will spend less in taxes,etc but both WILL increase them. They will talk about abortion but no matter what outcome it will stay the same. Did you ever think a Pubbie pres would give the school 11 Billion MORE in spending than it even requested? And nobody in this cartel will protect our BORDERS.

[chiefqc]

"Hey Calif. voters, you sure know how to elect the good ones now live with it and stop whining".