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Sacramento should get real. Anyone with an IQ over room temperature understands the newly revised budget is a fraud. It has at least $11 billion in gimmicks that really do not create cash for the treasury--nor do they stop cash from leaving--a two minutes change in the paying of salaries does not save $1.2 billion, just moves the deficit from one year to the next.
Dan Walters has noted that the deficit for 2010-11 is already at least $7 billion--and is trying to figure out how much the deficit is for 2009-10. My guess is the first deficit numbers will be about $6 billion--though, closer to $15 billion.
Looks like IOU's will continue to be a part of our economy, and people and jobs flee the State.
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Dan Walters has noted that the deficit for 2010-11 is already at least $7 billion--and is trying to figure out how much the deficit is for 2009-10. My guess is the first deficit numbers will be about $6 billion--though, closer to $15 billion.
Looks like IOU's will continue to be a part of our economy, and people and jobs flee the State.
More...