Calif. worrying about next recession
By Chris Megerian, Los Angeles Times
Even as California’s leaders prepare a new state budget that is flush with cash, Gov. Jerry Brown has increasingly raised the specter of another recession that could undo years of hard-won financial progress.
When he released his latest spending proposal last month, he said a downturn was “around the corner.” In a speech to business leaders, he said the question was “not if, when.” And he told county government officials that even a moderate downturn could cost the state $40 billion in revenue over three years.
The governor’s warnings may seem overwrought, given that economists see no sign of trouble on the horizon. And state revenue has routinely exceeded even the most bullish projections in recent years.
But the question is whether California has done enough to guard against another budget crisis, and experts say that the answer is a resounding no.
“Years of hard-won financial progress”
Translation: Tax Increases
I thought the state of California was booming?
The taxpayers are packing it up and leaving flush with cash from selling their homes and the result will be a downturn and an increase in poverty as more businesses do the same and the welfare burden grows as more leave as the golden goose migrates. At the same time the people paying the taxes leave, they are replaced by an underclass needing ever greater government entitlements and the border stays wide open and more tax payer gifts are handed out for illegally entering the country increasing the illegal entries and sinking the state’s economic future .
Hard won financial progress??? Seriously??? You tax the crap out of the people, including the ILLEGAL EXTORTION Fire tax and you want credit for a progress? Moonbutt is even more senile than thought. Get to pasture you old goat. This state is on a downward spiral like never seen. Justice called it. Cali-lib-Mexico can look forward to the most taxes and the most lazy.
There is only one way that the State can recover.
ALL ILLEGAL EMIGRATES MUST BE SENT BACK TO WHERE THEY CAME FROM AND THAT ALONE WOULD SAVE THE STATE 100 BILLION DOLLARS IN WELFARE ALONE,THEN STOP ALL WELFARE CHECKS,FOOD STAMPS ETC. THEN TAKE SECTION 8 HOUSING AWAY AND THE STATE IS GOOD AGAIN, PLENTY OF MONEY LEFT OVER FOR THE LEGAL PEOPLE . BUILD THE DAM FENCE AND KEEP THEM OUT. THERE SHOULD BE A 10 YEAR PERIOD OF NO NEW OUTSIDERS.
Justice is the king of run-on sentences.
Justice- you’re the perfect candidate to be 2nd lemming
I suppose once we get rid of the “illegals” all of us “legals” will be clamoring for jobs to pick lettuce, grapes, flip burgers wash dishes and clean hotel rooms.
Hey oldtimer,You forgot one more Social Security.This way we can all live off the land,and the Animals to and be hobos,
World: You sound like you are supporting people illegally entering our country…..and employers illegally employing them, just because you don’t want to pick lettuce or work at McDonalds. You should have stayed in school.
Kits that a big supposition from a person who has a credibility problem.
What a bunch of whiners. Here is a little cheese to go with that:
California is once again the 7th largest economy on Earth and the largest in America (even with a major drought) at a whopping $2.3 Trillion in GDP. Texas was a distant second to California with $1.6 trillion. Nevada was 33rd with .14 Trillion.
California also had the largest number of jobs created in April at 29,500.
California has the largest population in America at 39 billion and growing at 4.6%. Nevada has a population of 2.8 billion and growing at 5.1%.
Enjoy.
Check that. Populations should be in millions above.