Tweet
The Mercury News is wrong--the deficit is NOT $20 billion--that is just the General Fund deficit--it does not include unpaid lost lawsuits, unsold assets, over $7 billion owed the Unemployment fund--the real deficit is over $36 billion.
"A quick, unscientific look around the Golden State suggests that California's collective deficit may be double the state government's $20 billion budget gap. San Francisco must trim $522 million from its budget. San Jose's upcoming balance sheet is $116.2 million in the red. The Los Angeles Unified School District is staring at a $640 million shortfall. Even tiny Dorris, a few miles from the Oregon border (and home to the tallest flagpole this side of the Mississippi!) is contemplating cuts.
Now consider that California has 58 counties, 480 or so cities and nearly 1,000 school districts plus dozens more special districts, like transit agencies and water boards. Amid California's harshest slump since the Great Depression, officials from one end of the state to another are preparing to close parks, fire teachers and police officers, and heave Hail Mary plans for tax hikes."
At every level, California is collapsing. Makes you proud!
More...
"A quick, unscientific look around the Golden State suggests that California's collective deficit may be double the state government's $20 billion budget gap. San Francisco must trim $522 million from its budget. San Jose's upcoming balance sheet is $116.2 million in the red. The Los Angeles Unified School District is staring at a $640 million shortfall. Even tiny Dorris, a few miles from the Oregon border (and home to the tallest flagpole this side of the Mississippi!) is contemplating cuts.
Now consider that California has 58 counties, 480 or so cities and nearly 1,000 school districts plus dozens more special districts, like transit agencies and water boards. Amid California's harshest slump since the Great Depression, officials from one end of the state to another are preparing to close parks, fire teachers and police officers, and heave Hail Mary plans for tax hikes."
At every level, California is collapsing. Makes you proud!
More...