LAO – $10 Billion Shortfall – Lots of Red Ink
It would probably be a bit impish of Senate Republicans to do an "I told you so" dance around the Capitol — but they really do deserve to do one… Except for the fact that because they were so right-on about the fiscal woes facing California, that there is no time, and no reason to celebrate. Actually, I am sure, to a Senator, they wish they had been very, very wrong.
The Legislative Analyst just released her report on the state’s finances, and she is predicting a $2 billion shortfall in this year’s budget, and that we will start the talk about next year’s budget facing an $8 billion shortfall between anticipated revenues and expenses.
Senator Bob Dutton has already called for the Governor to declare a State of Fiscal Emergency*, and call the legislators back to Sacramento to deal with this problem NOW — and so far, the Governor has not, that I… Read More
