Tuesday, May 15, 2012

Is California's Deficit Good for Governor Jerry Brown?

Back in January the estimate was that California was in debt -- to the tune of $9.2 billion. In our new normal, that was seemingly palatable news. Now comes less agreeable news, the budget deficit is actually much larger than that. Today Governor Jerry Brown officially announced that the Golden State is facing a nearly $16 billion deficit.

At the risk of making the understatement of the week, this is bad news. California does not have enough money to keep functioning -- better said, it is dysfunctioning at this level. Depending on your perspective, too little money is coming in or too much money is going out.

What is a Governor to do? Well, there will be more budget cuts. Cuts that were likely inconceivable five years ago are now very much on the table.

Finish reading this post on KCET.org

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