California revenues down $1.5 billion — midyear cuts loom
By Kevin Yamamura, Sacramento Bee
California has fallen $1.5 billion behind in revenue through the first four months of the fiscal year, state Controller John Chiang said Thursday, amplifying fears the state will impose deeper budget cuts this winter.
For October, Chiang said, California was $810.5 million behind what was expected, or 16.3 percent. Notably, the state missed its personal income tax estimate by $451 million, or 12.9 percent, which the Franchise Tax Board attributed to lower withholdings and estimated tax payments.
The state also faced spending pressures through the first four months of the year. Chiang reported that California spent $1.7 billion more than budget writers expected.
Under the budget deal Gov. Jerry Brown signed in June, the state will automatically cut a variety of programs depending on how deep budget analysts determine the revenue shortfall will be.
And how much does the state spend on people who are not here legally?
If you want to balance the budget,
you now have the answer, but then again
it might slow down or stop California’s progression to third world status.
Ignorance is bliss…
but the bliss wears off and then all you have is ignorance.
Ahhhh yes the old shell game gone astray –
…but the article says the pols can still kick the can down the road simply by projecting that the state will make up the shortfall in the spring.
There you go nothing to worry about after all.
SNAFU
Yes, the state will keep kicking the can down the road until they think they can pass a tax increase! All the while claiming they’ve cut everything they can. But if you look at the pay state employees still get (1 in 8 make over 100k/yr.), all the number of people still working for the state (same # as before the economy tanked), all the CHP on the drive from here to Sac (clearly way more than there was just a few years ago), the limitless funds they had to go after Kindertown and the take as long as you feel like it road construction they’re always undertaking, it’s clear there’s still room for plenty of expenditure reductions!
California deserves what it is getting and going to get.
No more bailouts for you!
I found this post on the Sacramento bee, thought it was kinda cute so i ‘m sharin it with yas…
“WOW
California sure has stepped in the deep end of the dung pool. Sounds like you are in over your head.
Between the energy mess you have made and the budget blowing up I think we better make some more room down here for those of you headin out …
Comon’ down were a friendly place, we’ll throw some cow on the barbie… have a party, do some rock and roll for ya….
I should have mentioned that reposting I made above from the Sacramento Bee was from
“Live Music Austin”
I liked the
“we’ll throw some cow on the barbie”
part of course in Cali that will get some of the animal rights people upset.
So all of you realize that the collapse of the economy is the reason for the decease in revenue. And that the collapse was caused not by government excess and irresponsibility, but by the unchecked (unregulated) greed of the banks and insurance companies. The people in charge of those private companies lost very little, a lot of them got huge bonuses. And were bailed out
But let’s just point fingers at big government, call people socialists, and call for less regulation for the corporations that jeopardized the global economy with their gambling. They are ‘job creators’ right?
While we are at it, let’s privatize the VA, because our current health care system isn’t pathetic at all.~
It’s The Constitution that we need to break the Progressives destruction of our country.
Newt Gingrich is the only candidate that can beat Obama and bring us back to the rule of Constitutional law.
Get above the lies and distractions, listen/read what Gingrich has been espousing for more than 30 years.
The constitution is above all the deceit from the Progressives that want to control our lives.
Save America by bringing it back to it’s constitutional foundation!
Support Newt Gingrich for the children!