California scores staggering $75B budget surplus

[athlonmank8]

You win a prize for the most hypocritical post of the day. California announces a huge surplus (to the dismay of Republicans who hate CA) and all you can complain about is how shitty CA is for having had deficits in the past.
Congrats, you're a loser!

They will be their own demise

 

[VicBee]

You are a legit idiot. A huge economic recovery saves CA from decades of shit policies and you look at that as if its some proof of CA policies. But, as the article clearly explains, they were temporarily saved by the huge recovery. And as the article also points out, they are about to take that temporary reprieve and blow that money, too. They are idiots. But not quite the idiot you are.

You're going to tell me that red Texas or Florida are so well managed that they dont run state deficits? Obviously not. But your hatred of blue California and the reality that it's running a surplus is giving you hives? I know, it doesn't fit the narrative of the poorly run Socialist state.. darn!

 

[ph1l]

You're going to tell me that red Texas or Florida are so well managed that they dont run state deficits? Obviously not.

Texas and Florida have balanced budgets. That doesn't mean they are well-managed, of course.

https://ballotpedia.org/Texas_state_budget_and_finances

The legislature is constitutionally required to adopt a balanced budget. The governor must sign a balanced budget into law.[16]

https://ballotpedia.org/Florida_state_budget_and_finances

The governor is constitutionally and statutorily required to submit a balanced budget to the legislature. In turn, the legislature must pass a balanced budget, and any budget signed into law by the governor must be balanced.[16]

 

[Cuddles]

https://thehill.com/homenews/state-...ring-75-billion-budget-surplus?rnd=1620671830

laughs in valleygirl

 

[VicBee]

Texas and Florida have balanced budgets. That doesn't mean they are well-managed, of course.

https://ballotpedia.org/Texas_state_budget_and_finances

https://ballotpedia.org/Florida_state_budget_and_finances

https://www.texastribune.org/2020/07/20/texas-deficit-comptroller/amp/

https://www.floridatrend.com/articl...d-275-billion-deficit-for-2021-22-fiscal-year

 

[expiated]

You're going to tell me that red Texas or Florida are so well managed that they dont run state deficits?

Don't forget to look at debt. What's that of Texas? Maybe around $62 billion? How about Florida? Is it about $21 billion? But, compare that to California—something like $363 billion! And Florida and Texas manage this with no income tax according to AARP (Apr 8, 2021)!

 

[fredfrazier]

The boom in the stock really worked for California. The market gave it a surplus of $75B which is something unbelievable. I am sure California did not expect that.

 

[piezoe]

Don't forget to look at debt. What's that of Texas? Maybe around $62 billion? How about Florida? Is it about $21 billion? But, compare that to California—something like $363 billion! And Florida and Texas manage this with no income tax according to AARP (Apr 8, 2021)!

It is both more interesting, and more valid to look at the debt per capita, but this could still be misleading as the per capita numbers should be corrected for other factors, including per capita income. When your look at the uncorrected debt per capita you arrive at CA 9K , TX 2K, FL 1K.