Tweet
The news from Sacramento gets worse.
At 11:25 today Democrat State Controller John Chiang released the July fiscal report.
Revenues for the State were DOWN $91 million.
Spending for the State was UP by a BILLION Dollars.
How did they overspend when in May Chiang borrowed $8 billion and stole $12 billion from TRUST Funds (so much for the sanctity of Trust Funds) just to keep the "doors” open?
The Sacramento Bee reported, "Chiang added that unless the Capitol's budget stalemate ends soon, he will begin issuing IOUs, technically called "registered warrants," to pay some bills in late August or early September. An enacted budget would allow the state to seek short-term cash flow loans from commercial lenders."
With all this it has been days since all the major players sat down, together, to discuss the budget. The legislature seems to be enjoying the summer, with no rush to finalize a budget. Why should they, Arnold has declared we might not get a budget till the next Governor is sworn into office.
Our unemployment rate is 12.2 %, we overspent, in just one month $1,000,000,000 and our revenues declined by $91,000,000.
California is in a Great Depression and the children in Sacramento are digging the hole deeper.
More...
At 11:25 today Democrat State Controller John Chiang released the July fiscal report.
Revenues for the State were DOWN $91 million.
Spending for the State was UP by a BILLION Dollars.
How did they overspend when in May Chiang borrowed $8 billion and stole $12 billion from TRUST Funds (so much for the sanctity of Trust Funds) just to keep the "doors” open?
The Sacramento Bee reported, "Chiang added that unless the Capitol's budget stalemate ends soon, he will begin issuing IOUs, technically called "registered warrants," to pay some bills in late August or early September. An enacted budget would allow the state to seek short-term cash flow loans from commercial lenders."
With all this it has been days since all the major players sat down, together, to discuss the budget. The legislature seems to be enjoying the summer, with no rush to finalize a budget. Why should they, Arnold has declared we might not get a budget till the next Governor is sworn into office.
Our unemployment rate is 12.2 %, we overspent, in just one month $1,000,000,000 and our revenues declined by $91,000,000.
California is in a Great Depression and the children in Sacramento are digging the hole deeper.
More...