Posted on 05/12/2012 1:01:42 PM PDT by Steelfish
California Deficit Has Soared To $16 Billion, Gov. Jerry Brown Says May 12, 2012
Gov. Jerry Brown announced on Saturday that the state's deficit has ballooned to $16 billion, a huge increase over his $9.2-billion estimate in January.
The bigger deficit is a significant setback for California, which has struggled to turn the page on a devastating budget crisis. Brown, who announced the deficit on YouTube, is expected to outline his full budget proposal on Monday in Sacramento.
"This means we will have to go much further, and make cuts far greater, than I asked for at the beginning of the year," Brown said in the video.
Lawmakers and others were hoping that a rebounding economy would help the state avoid steep cuts to social services. But revenue in April, the most important month of the year for income taxes, fell far short of expectations, leading to a shortfall of at least $3 billion in the current fiscal year.
The state has also spent $2.1 billion more than expected, according to the controller, further worsening California's financial health.
Advocates involved in budget discussions say they expect deeper cuts to social services than Brown originally proposed in January. Union officials are also in negotiations with administration officials about ways to reduce state payroll costs, an issue that wasn't on the table earlier this year.
(Excerpt) Read more at latimesblogs.latimes.com ...
It’s a Laffer.
Blue state sickness ping!
LOL so much for a free press and the MSM. No report on what the spending was for. I guess they were sleeping at the switch or somehow didn't notice this. Perhaps too busy digging in garbage cans in Wasilla, AK
They just keep on spending
Just confiscate the wealth of all those rich Hollyweird types.
I can live without their effluent crap for the next five to ten years...they can go back to waiting tables and scrubbing floors.
By the way, did you all see Obama-backer Betty White’s house? I posted a picture of it on a couple other threads. Maybe Jerry Brown can just sell that mansion to a Chinese couple and apply the monies to his deficit.
Fair share and all, you know.
The California Legislature is now largely composed of perverts and “Third World” invaders. I suggest that a constitutional amendment be passed requiring any “Fee” or tax increase be approved by a vote of the people. To put it another way the power to levy taxes must be taken from the legislature.
No problem, the Facebook crowd will pay it off....no wait ...they’re dumping citizenship and forming trusts, LOL.
Confiscate Beverly Hills and sell it the Chinese.
Looks like the state will have to institute “Austerity”. And when I say Austerity I mean, of course: enormous tax hikes.
He must be doing something wrong...
enormous tax hikes.
Hope they start with all public employee retirement plans.
Enormously!
Why not start with those who WANT high taxes
........Hollywood elites?
And they got a mess of 'em in Congress. Read on.
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REFERENCE--THE CONGRESSMAN AND THE SUBPRIME DEBACLE (DESTROYING THE US ECONOMY ONE MTGAGE AT A TIME)
FR POSTED 4/10/12
FACT SOURCES: ERIC LIPTON | New York Times report, Sept 6, 2010, Lawmakers generosity on big corporations' tab Copyright 2012 stltoday.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Read more: http://www.stltoday.com/news/national/govt-and-politics/article_dfea2768-b95b-11df-bd41-0017a4a78c22.html#ixzz1rfgdnEAe
EDITED EXCERPTS New York Times report: Rep. Joe Baca (D-Calif 43rd) has achieved near celebrity status in his suburban LA district, as much for his record of giveaways — turkeys, scholarships, boots for firefighters — as for anything he has done in the US Congress.
Baca's generosity is made possible by The Joe Baca Foundation, a so-called "charity" he and his family set up circa 2008 under the pretext of "aiding" local organizations. The Joe Baca Foundation is run out of the family residence by Baca's son at a publicized salary of $51,800 (could be more, much more and could include numerous perks, credit cards, expense accounts, cars, free $5 gas fillups, health benefits, and so on). NOTE: Running a foundation out of a residence usually allows the resident to evade real estate taxes.
Perhaps nowhere is the mix of charitable and political agendas more evident than with Baca's family-run The Joe Baca Foundation.
The Foundation's key function is to help the self-serving Democrat and Latino separatist run a near-permanent political campaign. Joe Baca T-shirts and caps are given out at district events, where banners display Baca's name. Local newspapers highlight The Joe Baca Foundation’s donations, and TV stations run appearances by Baca and his family at these "charitable" functions---amounting to free publicity for Baca's election campaigns
Baca benefits from the good will corporate-financed philanthropy generates among his voting base b/c very little of the money to finance The Joe Baca Foundation's high-profile activities comes out of Baca’s pocket. Instead, Baca appears to be engaged in multiple sub rosa activities----exchanging donations from local companies and major corporations in exchange for easy access to him. Baca's foundation donors step to the head of the line when needing Baca's assistance, and usually succeed in getting his Washington office to get the job done.
The Foundation prefers not to call attention to its finances, usually underplaying its size and influence, but the list of The Joe Baca Foundation corporate donors and supporter serves almost like a road map to Baca’s major legislative actions in Congress.
<><>Coca-Cola donated $40,000 as it prepared to fight a proposal to prohibit the use of food stamps to buy sugary sodas, an issue before the Congressional agriculture subcommittee conveniently headed by Cong Joe Baca.
<><>The Lewis Group of Companies, a local development firm and a frequent sponsor of The Joe Baca Foundation events, will start construction on a 2,000-unit housing project built on land that Cong Joe Baca helped deliver by steering legislation through Congress to close the Rialto Municipal Airport, the current occupant.
<><> Baca secured an infamous Congrressional earmark in the amount of $500,000 for Telacu, a local housing group that donates to The Joe Baca Foundation.
<><> Another donor to The Joe Baca Foundation is Rentech, a California-based biofuels company that wants to build a new fuel plant in Baca’s district. After it made two donations, Baca’s son, who serves on the Rialto City Council (after losing reelction to the Calif state Assembly), voted to endorse federal tax dollars for the project. Eeven before the company had completed the local environmental permit reviews, Cong Baca sent a letter to the US Energy Department on his office stationery urging approval of the federal financial assistance.
Cong Baca’s Washington office declined to address reporter's questions about the foundation, or about positions the congressman has taken that appear to benefit donors. “They do a lot of great work,” said Stephen Wall, a spokesman for Baca, referring to The Joe Baca Foundation. “But as far as what we do, it is separate.” Baca’s son, who is paid to handle administrative matters at the Joe Baca Foundation, said many of the other donors were small California businesses with no issues before lawmakers in Washington.“We have always been about giving back,” Baca, Jr said.
NB: The IRS has targeted non-profit foundations as RABID MONEY LAUNDRIES AND TAX EVASION MACHINES. More below.
The morons keep driving our the productive people and piling on regulation and then wonder what happened...
Insanely stupid.
... keep driving out the productive people ...
I have an idea buy a high speed train......
Illegal immigrants cost California a large portion of that deficit.
Thanks for the “info!”
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