The results for California’s first month of the new fiscal year (July, for 2010-2011) are in, and they’re not pretty. “California still lacks a 2010-11 state budget but its deficit is already widening as revenue falls below official forecasts and spending runs above expectations, Controller John Chiang said today,” per the Sacramento Bee.
But you need to look at the actual numbers to really see the problem. Revenues (aka taxes) came in just 1.9% under expectations. However, disbursements (aka expenses) were 12.6% higher than expected.
As I keep saying: It’s time to massively cut spending. Pensions need to be cut for government workers, and scandals like that in Bell need to end. We need a small government in Sacramento, and a decrease in regulations.
Of course, the Democrats in Sacramento are currently considering imposing regulations on grocery bags. It’s 42 days without a budget (beyond the constitutional deadline) and they’re debating about “Paper, or Plastic?”
Tags: 2010CalBudget