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The about to be signed budget deal does not add cash to the State treasury. In fact, upon signing, it creates an $11 billion deficit that will grow to $20 billion--plus with revenues tanking, the deficit could reach $30 billion by late Fall. Oh, and the courts stopping billions in previous budget cuts will not help--nor will the lawsuits by at least 180 cities help the effort.
Add to those woes AB 32, union strikes, the Federal judge demanding we spend billions to make criminals comfortable, the added crime from the 27,000 criminals given early release---and you understand why IOU's will be with us for a while.
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Add to those woes AB 32, union strikes, the Federal judge demanding we spend billions to make criminals comfortable, the added crime from the 27,000 criminals given early release---and you understand why IOU's will be with us for a while.
More...