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About That Surprise California Budget “Surplus”: There is No Surprise and No Surplus Either

Home - by - February 20, 2013 - 11:30 America/New_York - 8 Comments

MISH’S

Last month writers were all aglow on the state of finances in California. For example …

Accounting Anomaly

Today we learn the surprise $5-billion bump in revenue in January is likely an accounting anomaly as a result of tax changes.

 The surge of revenue that showed up unexpectedly in state coffers last month may well be offset by a revenue dip in coming months, according to Gov. Jerry Brown’s administration. The surprise money has been the source of much speculation in the Capitol. Unanticipated tax receipts filled state coffers with more than $5 billion beyond initial projections for January — more tax dollars than are allocated to the entire state university system in a year.

Read more at http://globaleconomicanalysis.blogspot.com/2013/02/about-that-surprise-california-budget.html#ZdqQZGAcqZikFvIF.99

 

» 8 Comments

  1. conservative cowgirl

    February 20th, 2013

    Oh! I’m so surprised!

    Not.

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  2. Maudie N Mandeville

    February 20th, 2013

    ½ of it is probably already spent, the other is already absconded with by Democrat run ‘charities’ for the poor, minorities, women, disabled, stupid, lazy, surly, losers.

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  3. Billy Fuster

    February 20th, 2013

    Coming soon to a (blue) state near you–a federal bailout of bankrupt states to avert a national “emergency” (don’t let a crisis go to waste, especially one that was caused by the liberals in the first place). More of YOUR tax dollars being redistributed to worthless pieces of shit.

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  4. Hotlanta Mike

    February 20th, 2013

    California dreaming…

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  5. McFartus Spontaneous

    February 20th, 2013

    Get out while you can Stranded in Sonoma. Or at least move up past Redding. PS, loved your Mooch wig picture comparison on your Blogspot.

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  6. Stranded in Sonoma

    February 20th, 2013

    @McFartus Spontaneous — Thanks. My TiVo recorded the redo of Planet of the Apes as a Suggestion and I thought I’d watch it. As soon as I saw Helena Bonham Carter in her makeup on screen, I immediately said, That’s Mooshell’s wig! I guess that makes me a racist.

    As for leaving CA. We’re stuck here for at least another 18 months. My youngest son is still in high school and won’t graduate until 2014. We can leave at any time after that. And I’ll be happy to do so. I grew up in Marin County and have lived most of my adult life in Sonoma County. To make me WANT to leave took some real doing and I didn’t think it would be possible. But the People’s Commissariat had destroyed this state. Now, it’s just another socialist hellhole. It will be nice when I can say good riddance to CA.

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  7. Stranded in Sonoma

    February 20th, 2013

    The “surplus” is just the initial jump in revenue that you get when you raise taxes. It always happens. Then, when business can no longer afford to pay for the tax increases, they go out of business. Unemployment goes up. The “surplus” goes away as spending goes up and revenue goes down. The socialists grumble and complain and move out of state. Then they turn their new state into another socialist hellhole and wonder why their marxism lite doesn’t work in their new state either. And they never seem to be able to connect those two dots.

    The People’s Socialist Quagmire of California will be coming to a state near you! Just ask the natives of Colorado if their state has been changed for the better.

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  8. RANDO

    February 20th, 2013

    “anomaly.” Riiight.

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