The Magical Mystery Majority Budget

california-begging

On Thursday, December 18, frustrated with their inability to attract any Republican votes through long negotiations, both the State Assembly and the State Senate decided on an entirely different tack. They would pass a series of majority-vote bills to cut and change the current, 2008-09 budget. Though such a move would not get the state […]

California Budget: What Happened Last Fall — The New Budget Immediately Starting Bleeding Red Ink

arnold2

The 2008-09 budget which was passed in September of last year ( two and a half months late) contained several overly optimistic (I would say wildly unsustainable) assumptions concerning revenue: First, it assumed the sale of over $3 billion in revenue bonds, but no one wanted to buy California bonds. Second, it “borrowed” from over […]

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