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The current deficit, for 2009-10 in California, when you include everything, is around $40 billion. It had been estimated that the 2010-11 deficit was starting at about $20 billion. Thanks to Arnold thinking he could steal $2 billion from the drowning Federal government (drowning in oil?). Now we start the new fiscal year on July 1 at about $22 billion--and growing.
"The potential loss of funds is a significant setback for Gov. Arnold Schwarzenegger and state lawmakers, who may not see nearly $2 billion in federal assistance that they intended to use to help bring California out of the red.
The money was to be California's share of $24 billion in proposed assistance, mostly to cover healthcare spending, spread among all states. Budget experts say that is enough to wipe out about one-fourth of the combined state budget shortfalls."
When will the people of California demand honesty from Sacramento? When will we demand our politicians live within our revenues--instead of the Democrats demanding $5 billion more in taxes?
California is in a Great Depression and Sacramento prefers to spend money it does not have. Insanity--at our expense.
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"The potential loss of funds is a significant setback for Gov. Arnold Schwarzenegger and state lawmakers, who may not see nearly $2 billion in federal assistance that they intended to use to help bring California out of the red.
The money was to be California's share of $24 billion in proposed assistance, mostly to cover healthcare spending, spread among all states. Budget experts say that is enough to wipe out about one-fourth of the combined state budget shortfalls."
When will the people of California demand honesty from Sacramento? When will we demand our politicians live within our revenues--instead of the Democrats demanding $5 billion more in taxes?
California is in a Great Depression and Sacramento prefers to spend money it does not have. Insanity--at our expense.
More...