More worthless comments kewp, thanks for proving my point. Let me know when you grow up and want to have an adult discussion.
afx114,
Okay, so Clinton raised taxes and balanced the budget, but it was hardly economic success for all – dotcom? And what was unemployment when he did that, how were things when he left office? 1992 was hardly the economic environment facing CA today. You can’t balance a budget with borrowed money.
Aside from the differences in our state’s economy from the Federal gov’t, there are so many more pork spending programs in CA now that they are supporting a budget that was set during what should have been a massive surplus year in CA.
Instead of cutting back they keep spending and kick the debt can down the road.
That’s no solution. That’s like taking out a HELOC to pay off your previous mortgage, then claiming you paid your house off.
I wish you guys would look past the partisan lines.
This “balancing act” is dependent on the following:
– People continuing to spend and pay (higher) taxes at prerecession levels
– No companies going out of business or selling any fewer goods/services
– CA residents spending a NET $11 Billion on the lotto
– The taxable population maintaining it’s current level of employment, and in fact I’ll bet there’s wage growth calculated into their projected tax revenues
