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Not to worry - high spend rail will take more $$$ - or CalPERS, or maybe we can pay some ultra-extended unemployment.... or maybe some 'make work' programs.....
California high-speed rail costs soar again -- this time just for planning - San Jose Mercury News
"I think we're just going to burn through the money without ever really seeing a project," said Assemblywoman Diane Harkey, R-Dana Point, who's tried and failed repeatedly to halt the project, which has a $50 billion funding shortfall. "The money is burning a hole in our pocket and we're just spending it, and everybody is taking a piece of the pie."
At first glance, the situation should be welcome news in a state overwhelmingly controlled by Democrats, who have spent much of their time slashing programs they support.
California has a new budget problem - what to do with its' surplus:
"California Faces a New Quandary, Too Much Money
LOS ANGELES -- After years of grueling battles over state budget deficits and spending cuts, California has a new challenge on its hand: too much money. An unexpected surplus is fueling an argument over how the state should respond to its turn of good fortune.
The amount is a matter of debate, but by any measure significant: between $1.2 billion, projected by Gov. Jerry Brown, and $4.4 billion, the estimate of the Legislature's independent financial analyst. The surplus comes barely three years after the state was facing a deficit of close to $60 billion.
At first glance, the situation should be welcome news in a state overwhelmingly controlled by Democrats, who have spent much of their time slashing programs they support. After last November's elections, the party has two-thirds majorities in the Assembly and the Senate, relegating Republicans almost completely to the sidelines..."
I'm always amazed that rather than admit you were wrong, you come back and say something thats even more wrong to justify your mixed up sense of economics
Most of California had positive GDP Growth, just like the rest of the nation,
LOL
What did I say that was 'wrong'? I said more or less what you JUST SAID:
"...the fact is the US economy in general is on the rebound and California is no exception."
Ken
Last edited by LordBalfor; 05-26-2013 at 11:20 AM..
It appears the bulk of this "surplus" has more to do with the 2012 capital gains stampede not the economy.
(What happened to all those California millionaires that wanted to pay higher taxes???)
Anyway, sounds like Moonbeam is on the right track.
Easy, any outstanding debt that they have, pay it off. California cannot operate like the federal government can, it is not the same institution. Then they can take that money and rebuild all of their infrastructure, especially since that is earthquake country
Actually, now is the time to lever up the balance sheet and borrow like crazy.
California can lock in low rates and borrow as much as $400 billion.
California has a new budget problem - what to do with its' surplus:
"California Faces a New Quandary, Too Much Money
LOS ANGELES -- After years of grueling battles over state budget deficits and spending cuts, California has a new challenge on its hand: too much money. An unexpected surplus is fueling an argument over how the state should respond to its turn of good fortune.
The amount is a matter of debate, but by any measure significant: between $1.2 billion, projected by Gov. Jerry Brown, and $4.4 billion, the estimate of the Legislature's independent financial analyst. The surplus comes barely three years after the state was facing a deficit of close to $60 billion.
At first glance, the situation should be welcome news in a state overwhelmingly controlled by Democrats, who have spent much of their time slashing programs they support. After last November's elections, the party has two-thirds majorities in the Assembly and the Senate, relegating Republicans almost completely to the sidelines..."
It think Democrats and liberals make a mistake when they think that conservatives care about policy outcomes.
conservatives don't give a damn about public policy. conservatives are having a philosophical discussion about what it means to be a real American. They want to shape society around that philosophy.
So California having a budget surplus is meaningless to conservatives because California in their minds with its ethnic diversity, and large Democratic elected majority represents all that is wrong America and what it means to be a real American, policy successes be damned.
Easy, any outstanding debt that they have, pay it off. California cannot operate like the federal government can, it is not the same institution. Then they can take that money and rebuild all of their infrastructure, especially since that is earthquake country
But that isn't what they will do.
They will find creative ways to spend it. They won't reform the tax structure in any way.
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California has a new budget problem...
