California had a surge in tax revenue because so many people sold investments to beat the increases in capital gains taxes kicking in in 2013. There was an unexpected windfall in tax prepayments. Their budgets are usually greater fantasy than your average Hollywood movie.
The point of the cartoon is they did balance the budget, but Benson thinks outstanding pension obligations are being swept under the rug. She, like most conservatives is an eternal pessimist & is sure they will bankrupt the state.
That part is true. But Davis was incredibly slow to catch on. News reports said several utility plants were taken out of service for maintenance, all at the same time in December. At the time, it was obviously phony even for a governor. -In addition, Cali utilities were allowed distribute huge amounts of money to execs and shareholders and then declare bankruptcy.-But the main complaint about Davis was that during the dot com good times, he approved incredible pension increases. As if revenues were going to continue to increase forever. -An absolute disaster. The recall was more than justified.-He was also a shitty politician. He ran campaigns that were as negative as Karl Rove’s. Puke campaigns, as they were known.
I Play One On TV over 11 years ago
Does any state or locality in the US have a balanced budget at this time? Anyone? I know of none.
rini1946 over 11 years ago
thats the problem the people that make the laws and should balance the budget are the ones getting the pension money,
Mickey 13 over 11 years ago
California had a surge in tax revenue because so many people sold investments to beat the increases in capital gains taxes kicking in in 2013. There was an unexpected windfall in tax prepayments. Their budgets are usually greater fantasy than your average Hollywood movie.
Uncle Joe Premium Member over 11 years ago
The point of the cartoon is they did balance the budget, but Benson thinks outstanding pension obligations are being swept under the rug. She, like most conservatives is an eternal pessimist & is sure they will bankrupt the state.
braindead Premium Member over 11 years ago
That part is true. But Davis was incredibly slow to catch on. News reports said several utility plants were taken out of service for maintenance, all at the same time in December. At the time, it was obviously phony even for a governor. -In addition, Cali utilities were allowed distribute huge amounts of money to execs and shareholders and then declare bankruptcy.-But the main complaint about Davis was that during the dot com good times, he approved incredible pension increases. As if revenues were going to continue to increase forever. -An absolute disaster. The recall was more than justified.-He was also a shitty politician. He ran campaigns that were as negative as Karl Rove’s. Puke campaigns, as they were known.