California has balanced it's budget.

David · Feb 7, 2013

Big taxes and big spending cuts give California a budget surplus - Feb. 7, 2013

I hope the folks in DC are taking notes (and all the TPer naysayers enjoy the taste of feet)

a777pilot · Feb 7, 2013

That's just not true.

CA balanced budget? My fuzzy butt.

David · Feb 7, 2013

a777pilot said:
That's just not true.

CA balanced budget? My fuzzy butt.

$36M surplus after $1T is set aside in a reserve fund and IOUs and current obligations are payed off. Did you even read the article?

tecoyah · Feb 7, 2013

"California expects to take in $2.4 billion more in revenue than it will spend this fiscal year, which ends June 30. After paying off a shortfall from last year and setting aside funds for upcoming obligations, it's on track to end the year with a $36 million surplus."

Kinda Clinotesque...Kudos to my home state

a777pilot · Feb 7, 2013

I give you.....

http://www.nytimes.com/2012/09/21/us/california-debt-higher-than-earlier-estimates.html?_r=0

I say again, their budget is not, repeat, NOT balanced. Not even close.

tecoyah · Feb 7, 2013

Dayum...whats the point of trying in the first place.

Now I get the reasons our congress is impotent.
No reason to try in the face of impossible odds, it's the NEW American way.

I think I need to start my apology speech to my kids.

It would seem you feel the decision to deny any progress is a good course.

David · Feb 7, 2013

Governor Brown’s efforts to chip away at the debt have led Standard & Poor’s to say it is considering an upgrade of California’s bond rating...

And this is a bad thing, a777pilot?

ThirdTerm · Feb 7, 2013

The former governor mismanaged the state's finances but the cuts in education and welfare to balance the budget are hurting ordinary folks in California and state universities are almost unaffordable for working-class families now after tuition fees were raised in the last few years. The state's high living costs and tax rates drove away the working-age population and the state is now stuck with the ageing population similar to that of Japan.

tecoyah · Feb 7, 2013

ThirdTerm said:
The former governor mismanaged the state's finances but the cuts in education and welfare to balance the budget are hurting ordinary folks in California and state universities are almost unaffordable for working-class families now after tuition fees were raised in the last few years. The state's high living costs and tax rates drove away the working-age population and the state is now stuck with the ageing population similar to that of Japan.

Welcome to the house model.

misterveritis · Feb 7, 2013

David said:
Big taxes and big spending cuts give California a budget surplus - Feb. 7, 2013

I hope the folks in DC are taking notes (and all the TPer naysayers enjoy the taste of feet)

"California expects to take in $2.4 billion more in revenue than it will spend this fiscal year, which ends June 30. "

It is a projection. People who can leave are leaving. Let's continue this closer to June.

David · Feb 7, 2013

misterveritis said:
"California expects to take in $2.4 billion more in revenue than it will spend this fiscal year, which ends June 30. "

It is a projection. People who can leave are leaving. Let's continue this closer to June.

Fair enough.

myp · Feb 8, 2013

To those suggesting the Federal government should be balancing its budgets- you can't do that given the lack of a capital budget. If you want a balanced budget amendment, you first have to change national financing to include a capital budget or it does not make sense nor would it work.

That aside, I would argue it still doesn't make sense given the benefits of deficit spending in some situations.

Gottago · Feb 8, 2013

For the number of people I know who are moving out of Calidornia, they shouldn't be counting their chickens just yet.....

a777pilot · Feb 8, 2013

David said:
And this is a bad thing, a777pilot?

In a word.... YES!

David · Feb 8, 2013

a777pilot said:
In a word.... YES!

It's a bad ting that California is improving it's credit... :unsure:

a777pilot · Feb 9, 2013

David said:
It's a bad ting that California is improving it's credit... :unsure:

In a word..... YES!

David · Feb 9, 2013

a777pilot said:
In a word..... YES!

You have some messed up priorities. Do you want the US to fail?

a777pilot · Feb 13, 2013

David said:
You have some messed up priorities. Do you want the US to fail?

Not my decision but it has already failed.

David · Feb 13, 2013

a777pilot said:
Not my decision but it has already failed.

#1 economy, world class military, even our homless eat better then most poor 3rd Worlders, poverty is no hindrance to owning HD tvs or computers with internet access, poverty in America still means being in the top 20% of Humans in wealth... Ya, we really failed.

California has balanced it's budget.

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