Saturday, January 16, 2010

California's Begging Bowl

"California Governor Arnold Schwarzenegger, anticipating a $21 billion state budget deficit, plans to ask President Barack Obama to ease mandates and minimums on social programs to save as much as $8 billion. ... 'The problem is that there are no easy solutions left,' said Jean Ross, executive director of the California Budget Project, a Sacramento-based research group concentrating on issues facing the poor. ... The arsenal of one-time accounting maneuvers he and lawmakers have previously used to temporarly paper over parts of the gap--such as accelerating income-tax collections--have been mostly depleted, making efforts to erase the latest $21 billion deficit more difficult. ... The state also has struggled to implement cost-cutting measures that were part of the $85 billion spending plan approved in July. Courts blocked part of the budget that cut funding for home care for the disabled and another part that borrowed $800 million from an account that sets aside money for local transportation agencies. ... The state was the biggest bond issuer this year, selling $36 billion of debt", Michael Marois and William Selway at Bloomberg, 24 December 2009, link:

My answer: bring back quartering! Don't feed me any third amendment crap either.

1 comment:

Anonymous said...

Shambles coming!