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"State Controller John Chiang said Monday the worst of California's budget crisis is still to come. Although lawmakers are challenged by a nearly $20 billion deficit, "the bad year's 2012," Chiang said." Plus you have
this:
"And finances in later years aren't great either: Last year, the Legislative Analyst Office released a report projecting a $20billion deficit every year for the next five years."
Six years and a deficit of over $120 billion--after five years of a deficit totaling over $100 billion. Eleven years and a deficit of $225 billion.
But that is a lie. The current deficit is NOT $20 billion--it is actually $38 billion--including general fund, unemployment insurance, assets not sold and lawsuit lost, but not paid.
We are in trouble and the politicians lie to us and the media does not question those who have failed us.
This is why California will stay in a Depression for a generation--they ADMIT to $225 billion in deficits--on top of $600 billion in debt--so far.
More...
this:
"And finances in later years aren't great either: Last year, the Legislative Analyst Office released a report projecting a $20billion deficit every year for the next five years."
Six years and a deficit of over $120 billion--after five years of a deficit totaling over $100 billion. Eleven years and a deficit of $225 billion.
But that is a lie. The current deficit is NOT $20 billion--it is actually $38 billion--including general fund, unemployment insurance, assets not sold and lawsuit lost, but not paid.
We are in trouble and the politicians lie to us and the media does not question those who have failed us.
This is why California will stay in a Depression for a generation--they ADMIT to $225 billion in deficits--on top of $600 billion in debt--so far.
More...