Right around the stroke of midnight, I got an urgent e-mail from the Governor’s campaign entitled, "Day 1" — referring to the fact that we are now one day into the new fiscal year without a state budget. The e-mail directed me to a call for action on the Governor’s Join Arnold website where I read this message from the Governor’s Team:
The Governor’s 2008-09 budget proposal is a responsible plan that solves the state’s long-term budget problem, fully funds education, keeps our parks open and keeps prisoners behind bars – without tax increases.
However, the state is facing an extremely tough budget year. California’s economy is the most diverse in the nation and that diversity has kept it strong. But with the subprime mortgage crisis and the stalled national economy revenues have flattened out.
This downturn highlights the fact that California’s budget system is in dire need of reform. Fluctuating tax revenue and auto-pilot spending, which dictates approximately 90 percent of state expenditures, have created more than a decade of unpredictable and unstable budget cycles which benefit no one.
**There is more – click the link**
July 2nd, 2008 at 12:00 am
YAWN….