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Thursday, February 22, 2007

State Budget Will Fall $2 Billion Short

State tax revenues plummeted in January, and the Legislature's chief budget analyst, says the L.A. Times, "projects that about $2 billion in tax revenue the governor's plan relies on to balance the fiscal 2007-08 budget won't be there." She urged the Legislature to start cutting programs NOW to avoid a massive deficit later.

So you can expect business as usual in Sacramento, namely, more and more spending, followed by an "unexpected crisis" later, which will require a "modest" tax increase, probably only on homeowners, for, as usual, "the children."

5 Comments:

Blogger Archie Bunker said:

This is exactly why I voted NO on the Bond issues, the Governator was going to use that to pull a bait and switch on taxpayers to payoff debts that our lovely then Assemblyman Beaneraigosa left behind when he the speaker.

February 22, 2007 4:55 PM  

Blogger Walter Moore said:

We need to keep voting "no" on all bonds and tax hikes. We are taxed more than enough. The special interests running Sacramento don't care about that, or the state's future. All they want is to redistribute YOUR money to THEIR bank accounts, regardless of the consequences for anyone else.

February 22, 2007 5:55 PM  

Blogger Antonio Watch said:

California Chief Executive re-election guide:

1) Paint rosy long-term economic picture based on isolated dot-com windfalls

2) Use rosy picture to justify obliterating all previous spending records

3) Use new spending to bolster re-election bid

4) After election day, begin leaking true economic picture

5) Raise taxes to cover re-election costs

February 22, 2007 10:04 PM  

Anonymous Anonymous said:

Governator is a movie star, for him there is no real life, all what exists is fantasy. First they elect him, then they praise him, now they expect him to perform, perform what, he is just one of the dumb actors on the planet, he aint know anything. Governator likes the saying "I came, I saw, I changed, I conqured", someone please let 'em know that the saying ends with 'I suck big time'...

February 24, 2007 1:20 AM  

Anonymous Anonymous said:

Great Post! Wish I would have found it sooner! 8^)

February 26, 2007 5:20 AM  

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