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Title: Shortfall in California’s Budget Swells to $16 Billion (Moonbeam says Obama blocking budget cuts)
Source:
Infowars/NY Times
URL Source: http://www.infowars.com/shortfall-i ... s-budget-swells-to-16-billion/
Published: May 13, 2012
Author: ADAM NAGOURNEY
Post Date: 2012-05-13 19:44:25 by Hondo68
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Keywords: new spending cuts, reductions to schools health c, illegal aliens & slut supplies
Views: 95555
Comments: 211
LOS ANGELES — The state budget shortfall in California has increased dramatically in the last six months, forcing state officials to assemble a series of new spending cuts that are likely to mean further reductions to schools, health care and other social programs already battered by nearly five years of budget retrenchment, state officials announced on Saturday. Gov. Jerry Brown, disclosing the development in a video posted on YouTube, said that California’s shortfall was now projected to be $16 billion, up from $9.2 billion in January. Mr. Brown said that he would propose a revised budget on Monday to deal with it. “We are now facing a $16 billion hole, not the $9 billion we thought in January,” Mr. Brown said. “This means we will have to go much further and make cuts far greater than I asked for at the beginning of the year.” Mr. Brown disclosed the news in a video that had all the trappings of a campaign announcement. In it, he aggressively accounted for the steps he said he had taken to try to scale back a $26 billion deficit he found upon taking office. And he urged viewers to back an initiative he is putting on the November ballot that would increase sales taxes by 0.25 percent and impose an income tax surcharge on wealthy Californians to try to stave off more cuts.
Poster Comment: Barack 0'bush forced Arnold Moonbeam to spend like crazy, and regulate until business left the state. Such a sad story from the D&R party. parasites
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Begin Trace Mode for Comment # 40.
#1. To: hondo68 (#0)
How is it possible that the state hires "the best and brightest minds" to forecast these issues and then performs major retractions, revising so-called "shortfalls" not by a few million bucks by by BILLIONS in such a short period of time? Don't vote for these muther-fuckers. (yep: i know it is mother's day)
Economics is a social science, it's about human behavior. There are far too many variables to make accurate prediction possible, the best economists can do is make an educated guess.
I should have been an economist where being wrong lots of times is the norm. I used to do forecasting years ago, with manpower, and we were pretty dang accurate. Hi! I had some connectivity problems and was out of sight for a while. Good to see you.
Most big companies created annual budgets, do quarterly forecasts, and report on monthly actuals. If the forecasts doesn't align with the budget or the actuals don't align with the forecast, companies do something about it (cut planned spending). Companies don't wait two, three, or five years to do something about a problem. The problem is that politicians don't like to cut spending, because this is how they buy votes to stay in power.
Governments and companies exist for very different purposes.
#43. To: lucysmom (#40)
And the mixing of the two models has caused a lot of the problems we see now. Government depts were never meant to earn a profit. They were meant to supply a service.
That is less true now than it was,and less true than it will be tomorrow. Thanks to Poppy Bush and his New World Order,and Bubba Bill and Tony Blair's "The Third Way", fascism is the wave of the (near) future.
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#14. To: buckeroo (#1)
How is it possible that the state hires "the best and brightest minds" to forecast these issues and then performs major retractions, revising so-called "shortfalls" not by a few million bucks by by BILLIONS in such a short period of time?
#16. To: lucysmom (#14)
#37. To: Fred Mertz (#16)
I should have been an economist where being wrong lots of times is the norm. I used to do forecasting years ago, with manpower, and we were pretty dang accurate.
#40. To: jwpegler (#37)
Companies don't wait two, three, or five years to do something about a problem.
Replies to Comment # 40. Governments and companies exist for very different purposes.
#53. To: lucysmom (#40)
Governments and companies exist for very different purposes.
End Trace Mode for Comment # 40.
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