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So far this year, the legislature and Governor has created "fixes" for $67 billion ($42 billion in February, $25 billion In July) worth of deficits.
So, even if we believe this is a good budget, we have gone from a $26.3 billion deficit, before the new budget, to approximately $14 billion in deficit (gimmicks plus court orders) after the signing of the "new" budget.
All we have done is downsize the deficit, not end it. The bad news is that by the end of the year, thanks to court orders and reduced revenues due to high taxes, the deficit should be back up to at least $26 billion.
Since February Sacramento has covered up over $65 billion in deficits. Makes you proud!!! And by September or October they will have the opportunity of doing it again!!!
More...
So, even if we believe this is a good budget, we have gone from a $26.3 billion deficit, before the new budget, to approximately $14 billion in deficit (gimmicks plus court orders) after the signing of the "new" budget.
All we have done is downsize the deficit, not end it. The bad news is that by the end of the year, thanks to court orders and reduced revenues due to high taxes, the deficit should be back up to at least $26 billion.
Since February Sacramento has covered up over $65 billion in deficits. Makes you proud!!! And by September or October they will have the opportunity of doing it again!!!
More...