Bev's Holsters
A new report estimates that California officials will face a budget gap of nearly $21 billion over the next year and a half.
Not only is there no light at the end of the tunnel of California’s annual budget deficit — there’s not even an end to the tunnel.
“I think it’s going to be a very difficult year,” says Mac Taylor, California’s legislative analyst. He leads nonpartisan budget experts that advise state lawmakers. Taylor says the state may come up about $6 billion short by next July, $14 billion short the fiscal year after that, and at least $20 billion in the red every year for the next five years.
Deep spending cuts may also be impossible. That’s because California already is at the bare minimum on education and health-care spending, if it wants to qualify for federal stimulus dollars.
Perhaps it’s no surprise that the state’s outgoing finance director was recently quoted as saying he researched whether California could switch from being a state to a federal territory — a way of having the federal government step in to solve what state officials cannot.
————————————–
The California State Legislature can fix this. They just don’t have the ethics, toughness, or vision to do so. If you are a part of the California political machine, here are two items that should give you a blaring example about how you can right the lady liberty ship of California:
Get to work.
Related posts:
- Stoned and Broke in Sunny California
- Your State’s Unemployment Fund Probably Broke
- Truth about the Federal Reserve will destroy economy?
- Does the Federal Reserve Manipulate the Stock Market?
- Big Government is Effective