The State of California has a Billion dollar budget SURPLUS.

[2Manboobs]

"Earlier this month, California Governor Jerry Brown strode to a podium in Sacramento and said something that, a few years ago, seemed as unlikely as a UFO landing atop the state Capitol: The initial projection for the state budget showed a balance. In fact, for the 2013-2014 fiscal year, there’s a surplus of $851 million. The nonpartisan Legislative Analyst’s Office, which just a couple months earlier estimated a deficit of $1.9 billion, concurred with the governor: Revenues matched expenditures in the initial outlook for the first time since before the Great Recession.

This was a surprise, to say the least. After all, in 2009, California carried a deficit as high as $42 billion. Marathon all-nighters in the legislature and unsatisfying 11^th hour deals were commonplace. At one point the state paid obligations with IOUs because it ran out of money.

You can’t use projections to declare an economy sound again. You simply can’t. Interesting how Dayen went all the way back to 2009 for a deficit number when the state was carrying a $20-something billion deficit just last year. Why? Partly because the state had incorrectly projected its pending state income tax revenue for 2011 filings and came up billions short in the spring.

The Reason Foundation’s Leonard Gilroy noted at Breitbart.com’s Big Government what really happens with California’s budget. They almost always declare that it’s “balanced” and then adjust downward as reality asserts itself and makes a mockery of the projections:

Last November, for example, California’s nonpartisan Legislative Analyst’s Office wrote, “The 2012–13 budget assumed a year–end reserve of $948 million. Our forecast now projects the General Fund ending 2012–13 with a $943 million deficit.” …
To make his budget proposal look balanced this time around, Gov. Brown makes another series of optimistic assumptions, including that the tax increases California voters approved last November won’t hurt the economy and the state’s economy and tax revenues will grow; that California’s millionaires, hit with higher taxes again, won’t pack up and move to low-tax states; that California’s housing market will improve and home prices will go up; that President Barack Obama and Congress won’t do anything to hurt the national economy; and that the stock market will rise....".


http://reason.com/blog/2013/01/29/ne...ion-of-califor

[Daveindiego]

"Earlier this month, California Governor Jerry Brown strode to a podium in Sacramento and said something that, a few years ago, seemed as unlikely as a UFO landing atop the state Capitol: The initial projection for the state budget showed a balance. In fact, for the 2013-2014 fiscal year, there’s a surplus of $851 million. The nonpartisan Legislative Analyst’s Office, which just a couple months earlier estimated a deficit of $1.9 billion, concurred with the governor: Revenues matched expenditures in the initial outlook for the first time since before the Great Recession.

This was a surprise, to say the least. After all, in 2009, California carried a deficit as high as $42 billion. Marathon all-nighters in the legislature and unsatisfying 11^th hour deals were commonplace. At one point the state paid obligations with IOUs because it ran out of money.

You can’t use projections to declare an economy sound again. You simply can’t. Interesting how Dayen went all the way back to 2009 for a deficit number when the state was carrying a $20-something billion deficit just last year. Why? Partly because the state had incorrectly projected its pending state income tax revenue for 2011 filings and came up billions short in the spring.

The Reason Foundation’s Leonard Gilroy noted at Breitbart.com’s Big Government what really happens with California’s budget. They almost always declare that it’s “balanced” and then adjust downward as reality asserts itself and makes a mockery of the projections:

Last November, for example, California’s nonpartisan Legislative Analyst’s Office wrote, “The 2012–13 budget assumed a year–end reserve of $948 million. Our forecast now projects the General Fund ending 2012–13 with a $943 million deficit.” …
To make his budget proposal look balanced this time around, Gov. Brown makes another series of optimistic assumptions, including that the tax increases California voters approved last November won’t hurt the economy and the state’s economy and tax revenues will grow; that California’s millionaires, hit with higher taxes again, won’t pack up and move to low-tax states; that California’s housing market will improve and home prices will go up; that President Barack Obama and Congress won’t do anything to hurt the national economy; and that the stock market will rise....".


http://reason.com/blog/2013/01/29/ne...ion-of-califor

I stopped reading once I hit Breitbart.


The Reason.com

[Daveindiego]

Hey 2manboobs. When you're ready to read some real newspapers, let us know, and we'll try this discussion stuff again.

[2Manboobs]

I stopped reading once I hit Breitbart.


The Reason.com

Yet you believe a man that's been a profession liar for the last 42+ years, career-wise has never been anything BUT a politician (after he decided AGAINST entering the Jesuit Priesthood), authored California's "Prisoner Bill Of rights", and left California in shambles after his first stint as governor ended in '83 (The ONLY thing that positive that occurred for California during his first tenure as Governor was the passage of Prop 13, which he vehemently opposed)

.....Yeah, your judgement's just a little skewed

[Daveindiego]

Yet you believe a man that's been a profession liar for the last 42+ years, career-wise has never been anything BUT a politician (after he decided AGAINST entering the Jesuit Priesthood), authored California's "Prisoner Bill Of rights", and left California in shambles after his first stint as governor ended in '83 (The ONLY thing that positive that occurred for California during his first tenure as Governor was the passage of Prop 13, which he vehemently opposed)

.....Yeah, your judgement's just a little skewed

I literally cannot wait to vote for Governor Browns reelection.

[2Manboobs]

Hey 2manboobs. When you're ready to read some real newspapers, let us know, and we'll try this discussion stuff again.

I don't consider High Times to be a newsworthy periodical.... Nor do I consider burnouts living in the Ghettos of a San Diego suburb to be credible sources of news or economics .. If I ever find myself needing to purchase a bong at some point, or I need to know how to survive on less than $1200 a month, I give you my word I will seek out your expertise ...

[2Manboobs]

I literally cannot wait to vote for Governor Browns reelection.

I expect nothing less from people with sub-par intelligence...