California Governor's budget has surprise: a surplus

[Maverick74]

Quote from AK Forty Seven:

That was Nov,its Jan and CA added a shitload of new taxes in Nov so its possible that that 1.9 billion can be a surplus



Considering they were projecting a 41 billion dollar deficit in 08 its still a great job



It sounds strange, until you consider that it sounds a whole lot better than the staggering $41 billion deficit projected at the end of 2008 -- and much better than the $25 billion hole that the state's Legislative Analyst was forecasting in 2010. And much more rosy than the $16 billion shortfall Gov. Jerry Brown was projecting just last spring.

These are all projections. They mean nothing. The cost of Obama care has already doubled from what was first projected.

 

[John_Wensink]

I am projecting that I will be the richest person on planet earth by the time I wake up tomorrow IF, I win every lottery in the country.

AK, boy are you a sucker.

Quote from AK Forty Seven:

They currently have a surplus this year with only 5 months left to go


That leaves a surplus of $851 million for the year, in addition to a projected $785 million surplus for the current fiscal year, which ends in June, allowing the state to put $1 billion toward a rainy day fund.

 

[AK Forty Seven]

Quote from John_Wensink:

I am projecting that I will be the richest person on planet earth by the time I wake up tomorrow IF, I win every lottery in the country.

AK, boy are you a sucker.

CA will have more revenue from the recent tax increases so a surplus is far more likely then your lottery fantasy John

Winning every lottery in the country wont make you the richest person on the planet idiot

 

[AK Forty Seven]

The last Governor,who was a republican, left a projected 41 billion dollar deficit now its at 2 billion or a surplus.Good job Gov Brown !!!

 

[Max E.]

Quote from AK Forty Seven:

The last Governor,who was a republican, left a projected 41 billion dollar deficit now its at 2 billion or a surplus.Good job Gov Brown !!!

You are obviously trolling, only an idiot would blame california's budget woes on republicans.

 

[AK Forty Seven]

Quote from Max E. Pad:

You are obviously trolling

Says the troll who posted this an hour ago

Quote from Max E. Pad:

Ak fantasising about Jerry Brown

 

[Maverick74]

Quote from AK Forty Seven:

The last Governor,who was a republican, left a projected 41 billion dollar deficit now its at 2 billion or a surplus.Good job Gov Brown !!!

AK, the last governor was working with a 100% democratic legislature. Just sayin...

 

[Haroki]

Quote from AK Forty Seven:

He has repeatedly stressed the nee... Hooray!! Now if only Obama believed that

 

[hughb]

This could come back to bite Brown in the ass in a big way. These expectations are based on increased revenues from prop 30. Brown is making these predictions confidently because prop 30 is retroactive, last year's earnings are being taxed at this new higher rate. The only thing Brown has to go on in figuring the new revenues from prop 30 is the amount of income that was taxed in the previous year. If that income is less this year than last, then Brown's prediction for a surplus will be sunk. Of course, on the other hand, it could even be higher producing even a bigger surplus. My point is that he really doesn't know, and he has made himself vulnerable if this surplus doesn't materialize. Personally, I don't think he made a smart move here.

 

[Wallet]

Quote from Maverick74:

http://www.nbcbayarea.com/blogs/prop-zero/Opinion-A-Budget-Surplus-In-California-179392181.html

"When is a prediction of a $1.9 billion shortfall actually considered good news?

In deficit-battered, recession-weary California, that's the case."

"In fact, the report floated the possibility of the state actually running a surplus of up to a billion dollars by 2014."

"But no one should break out the champagne just yet.

First, use of the term "surplus" gives the state's budget-writers heartburn, since revenues fluctuate all the time.

Second, and more importantly, this glimpse of a recovery depends to an enormous degree on Gov. Brown's ability to hold the line on new spending. After years of cuts, there's a lot of pent-up demand. Everyone will have their hand out."

"With Democrats sewing up a super-majority in the legislature, there are no Republican hold-outs to block spending increases. Even Gov. Brown, who has vowed to exercise restraint, could find himself outflanked if Democrats show enough unity to override a veto."

The whole "surplus" thing is a ruse, of course it's bullshit and totally fictional at this point. Regardless, it's an orchestrated attempt by the DNC, California will be the poster-child for their "tax the rich" mantra, and MSM ammo for the upcoming budget talks.