The California Bureau of State Audits set off a scandal on June 1st by disclosing that the State Controller’s Office made accounting misstatements amounting to $31.65 billion. The timing of the announcement may be devastating to the Democrats who expected to use their super-majority to pass billions of dollars in increased spending, but may now find the net effects of the accounting restatements are a $7 billion General Fund deficit.   California Governor Jerry Brown’s and State Controller John Chiang’s staff refused to go on camera and answer questions as the news broke. To give a perspective on the size of the...
