| Author | Message | | Guest | |  | | Guest | | | | Guest | | | | Guest | | Posted: Thu Dec 19, 2002 9:33 am Post subject: California Budget Shortfall Nears $35 Billion |
| Amazing that we will give to Israel but what about our own here????
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Forwarded Message:
Will the United States government turn over loan guarantees and/or free loans (never to be repaid) to the Zionist Reich that has the world on the edge of World War III, while California is 35 billion in debt, and United Airlines goes bankrupt and is denied loan guarantees? Will they let the abominations against Judaism, Richard Perle, Dov Zackheim, Joe Lieberman, Elliot Abrams (son-in-law of Norman Podhoretz), Paul Wolfowitz, Douglas Feith and the Christian Zionists push this through??
David Goldman
California Budget Shortfall Nears $35 Billion
Dec. 18
— By Michael Kahn
SAN FRANCISCO (Reuters) - California's budget deficit has ballooned to a staggering $34.8 billion, Gov. Gray Davis announced on Wednesday, leaving the nation's most populous state in a much bigger fiscal crisis than expected.
Davis, a Democrat, said the deficit over the next 18 months is up from a previously estimated $21 billion mainly because of a nosedive in personal income tax revenues, which make up a healthy portion of revenues flowing into the state treasury.
The size of the deficit, about $1,000 for each of the states 34 million residents, is bigger than the entire budget of most other U.S states and will make it difficult for lawmakers to find ways to fund critical state programs.
"(It) is far more than any expert predicted," Davis told reporters.
California, like many U.S. states, is mired in a fiscal crisis due to the slack economy and weak stock market, which have dried up revenues flowing into state coffers.
Davis made his announcement after meeting with top legislative leaders to discuss the shortfall that has already forced the governor to propose $10.2 billion in spending cuts effecting just about every state program.
The biggest cuts include $3 billion from education and $2 billion from Health and Human Services -- reductions that could leave an estimated 200,000 residents without health coverage under the state Medi-Cal program.
Davis plans to unveil his budget plan for fiscal 2003-04 on Jan. 17. But the state's precarious position has already forced him to call a special session of the state Legislature this month to start dealing with the fiscal emergency.
Davis did not include tax increases in his initial proposal, but he has suggested new taxes may be needed when he issues his budget plan in January.
This will likely stir up fierce debate among lawmakers who have been at loggerheads over how to address the shortfall. Republicans have called for reduced spending while Democrats urge tax hikes in order to preserve important state programs.
The governor declined to give specifics about the new budget plan but acknowledged he would not be able to rely on many of the one-time options used to clear up a $23.6 billion budget shortfall last year.
"Now we are faced with a very different situation and you will see when I make my budget plan in January we will have a very different response."
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Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service. | | | | Guest | | | | Guest | | | | Guest | | | | Guest | | | | Guest | | | | Guest | | Posted: Thu Dec 19, 2002 11:11 pm Post subject: |
| Here's a free clue...
Wolfowitz is the Assistant Secretart of Defense. Not President or Vice President. Not on the Cabinet. Not Secretary of State.
Wolfowitz manages the military, under direction of the President and Secretary of Defense. He cannot and does not determine national policy. | | | | | ©2002-2009 WarWithoutEnd.co.uk |
