Now, can anybody take a wild crazy guess when California began having a structural $20 billion annual budget deficit? Anybody? Bhueller?
Hint: Governor Gray Davis was recalled in 2003.
Some one had posted a year by year of the California State budget.
Does any one have this?
Now, can anybody take a wild crazy guess when California began having a structural $20 billion annual budget deficit? Anybody? Bhueller?
Hint: Governor Gray Davis was recalled in 2003.
As you view that chart, note the California budget was $40 billion in 1995.
So from 1995 to 2007 (12 years) the California budget went from $40 billion to $146 billion.
Nobody should be surprised when California goes insolvent.