State finance director paints rosier picture of California deficit

Sac Bee ^ | 9/9/03 | Tom Harrigan - AP

[NormsRevenge]

LOS ANGELES (AP) - California's finance director told a budget study committee Tuesday that California took in more revenue than it spent in July and August, and said there is a public "misconception" that a $38.2 billion deficit still exists.

[NormsRevenge]

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[NormsRevenge]

Peace said the revenue shortfall would have a hangover of an estimated $7.9 billion for the fiscal year beginning July 1, 2004. But if economic conditions improve the leftover deficit could be as low as $3.9 billion, Peace said, not involving the reserve of $2.2 billion established in the 2003-2004 budget.

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How long will it take the demRats to spend that "4 billion" dollar gain?

[ridesthemiles]

If Steve Peace stood in my living room and declared the correct day of the week and correct direction of sunrise and sunset, I would NOT believe him. He is a congenital liar. I think the currect deficit is way over the $38 billion Davis copped to AFTER he was elected. Every single "designated" fund of money within the state of Cal has been raided by Davis. He tried to get into the CalPers retirement fund, and got thwarted. In any business I know, this would be borderline embezzlement.

[tubebender]

Ex-senator Steve Peace is the guy that said Dem style electric deregulation would bring electric prices down. down, down...

[Mad_Tom_Rackham]

BWAHAHAHAHAHAHAHAHA!!!

I'm sure his motto is: "The more you spend, the more you save!"

Why can't we just shoot these assholes? Oh yes. That wouldn't be civilized.