Davis is holding a live press conference right now, but he's refusing to answer questions about the Oracle scandal.
If Gray Davis really wanted to "fill the $23.6 billion hole" in his budget, he would follow the lead of JFK and Ronald Reagan and reduce personal and corporate taxes in the Golden State.
Updates please.....
"This budget reflects my view, and the views of most economists, that some time in the next 12 months, California will experience a recovery," Davis said. If I decode this correctly, it means that his budget contains some rosy assumptions about how much revenue will be received by the state. Of course, if you raise taxes and cut spending, that is likely to hurt the California economy, not help it.
So, it means that we have a shell game being proposed, in addition to some optimistic figures, combined with taxes that will hurt every driving Californian (nearly 100%), and a cut in services in the health sector.
Lots for Bill Simon to have fun with, I'd imagine.
California state paychecks should start bouncing in mid-July...