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Keyword: incomeoutgogap

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  • Ca: Real budget crisis is the $8 billion annual income-outgo gap

    05/20/2003 9:00:42 AM PDT · by NormsRevenge · 8 replies · 114+ views
    Sac Bee ^ | 5/20/03 | Dan Walters
    <p>Numerology is the pseudoscience that seeks occult meanings in numbers, but one needn't be an adherent to find significance in the recurring appearance of $8 billion in the state's budget crisis.</p> <p>That was how much, more or less, Gov. Gray Davis and the Legislature foolishly spent out of a one-time windfall of income taxes three years ago. And that's roughly how much out of balance the state budget has been every year since.</p>