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Old 03-16-2018, 11:55 PM  
Lex Luthor Lex Luthor is offline
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Jerry Brown's Legacy: A $6.1 Billion Budget Surplus in California

In sharp contrast to Oklahoma and Kansas, where the GOP's massive tax cuts led to economic disasters, California decided to do the fiscally responsible thing and RAISE taxes. The result: a budget surplus and a booming economy.

This is the GOP's worst nightmare: prosperity and budget surpluses. Jerry Brown inherited a $27 Billion budget deficit and turned it into a $6 Billion budget surplus. It's a freaking nightmare! It's almost as bad as when that bastard Bill Clinton was President!

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Jerry Brown's Legacy: A $6.1 Billion Budget Surplus in California

California Gov. Jerry Brown appears poised to exit office next year with a top political priority in hand: free from the massive budget deficits that had weighed on his predecessors.

Buoyed by tax increases passed under his administration and a strong economy, Mr. Brown said Wednesday that the state is projecting a $6.1 billion surplus for the next fiscal year, which begins July 1.

The governor proposed socking most of the money away in a rainy-day fund whose creation he pushed for in 2014. Nearly 70% of the state's projected revenue of about $135 billion next fiscal year is derived from personal income taxes, according to the governor's office.

The state's fiscal health is especially crucial as it faces myriad challenges: record natural disasters, housing shortages and changes to federal tax regulation -- all while it ramps up opposition to the Trump administration on several major policy fronts.

As is his custom, the governor warned of an inevitable economic slowdown.

"California has faced 10 recessions since World War II, and we must prepare for the 11th," he said. "Let's not blow it now."

Mr. Brown has been preaching frugality for years -- he kicked off one past budget talk with Aesop's fable about the thrifty ant and the lazy grasshopper.

Mr. Brown took office in 2011 with a $27 billion deficit and drastically slashed spending. In 2012, he staked his governorship on a tax increase that voters approved that year and reauthorized in 2016.

His spending plan for 2018 calls for $131.7 billion of general fund spending. Including special funds and bonds, which are pools of restricted money that can only be used for specific projects, total proposed spending next fiscal year is $190.3 billion.

The governor's budget document marks the start of roughly six months of negotiations with the Democratic-controlled legislature.

The state's budget must be approved by June 15, so it can be enacted July 1.

Many in Mr. Brown's party, which wields the power to raise taxes with two-thirds majorities in both state houses, have pushed for increased spending on social programs as the state has recovered from the last recession.

On Wednesday, Republicans called on the governor to return some of the budget surplus to voters -- saying they were overtaxed.

Assemblyman Vince Fong, a Republican from Kern County and a former staffer of House Majority Leader Kevin McCarthy, said the forecast windfall was evidence that a gasoline tax increase passed by Democrats last year was unnecessary.

"We do not have a revenue problem, we have a spending problem," Mr. Fong said. "Taxpayers work hard for their income -- we should work just as hard to protect it."

State officials and economists said planning for the 2018-2019 budget cycle had been particularly difficult this year.

They said state finances are facing a notably volatile period, given changes to federal tax law poised to hit California especially hard.

"I think there's more financial uncertainty between Washington and Sacramento than in the past," said Jerry Nickelsburg, director of the University of California, Los Angeles Anderson Forecast, a leading forecaster.

California, along with other high-cost and high-tax states, is considering ways to lessen the impact of the federal tax overhaul, which will raise taxes on a significant number of high-earners in the state.

State senate leader Kevin de León introduced legislation last week that would allow California taxpayers to donate to a fund and deduct 100% of the donation, essentially turning state tax payments into a deductible charitable contribution.

Other Democratic-led states, including New Jersey, are considering similar tactics to push back against what their leaders see as an unfair politically motivated move by the Trump administration against blue states.

While Mr. Brown warned of a slowdown Wednesday, he also touted increased funding in the state's public schools and infrastructure programs as well as his efforts to pay down debt taken on by previous administrations.

Mr. Brown's two most immediate predecessors were consumed by state budget woes at the end of their tenures. Democrat Gray Davis was recalled from office in 2003 after a recession, an energy crisis and controversial cuts led his popularity to sink.

Republican Arnold Schwarzenegger defeated Mr. Davis in the recall election, but he too was consumed with deficits as state coffers were pummeled by the last recession.

"One thing governors don't like is to be presiding over a hemorrhaging budget because people do blame them," Mr. Brown said Wednesday. "And for that reason, if none other, we are going to keep this steady as we go."
https://www.foxbusiness.com/features...-in-california
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Old 03-17-2018, 09:59 AM   #16
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Old 03-17-2018, 11:17 AM   #17
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You'd have to ask his dad.
I wonder who pays his bills?
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Old 03-17-2018, 12:44 PM   #18
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the current year's surplus is like "stop leak" you put in a motor that has a blown head casket to try and get a few thousand more miles or sell it to some unsuspecting buyer...
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Old 03-19-2018, 12:26 AM   #19
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Originally Posted by CoMoChief View Post
So this must be the reason why people are leaving the state of CA in record numbers.

...because of their "booming" economy.

'Cuz of tax slavery.

Lex boasts of the suffering taxpayer for the fat-happy state.
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Old 03-19-2018, 05:08 AM   #20
Lex Luthor Lex Luthor is offline
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Quote:
Originally Posted by CoMoChief View Post
So this must be the reason why people are leaving the state of CA in record numbers.

...because of their "booming" economy.

Quote:
Originally Posted by BucEyedPea View Post
'Cuz of tax slavery.

Lex boasts of the suffering taxpayer for the fat-happy state.
Sorry to burst your bubbles. People are leaving California because of a shortage of affordable housing.

The Cost of a Hot Economy in California: A Severe Housing Crisis
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Old 03-19-2018, 06:17 AM   #21
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Originally Posted by Lex Luthor View Post
Sorry to burst your bubbles. People are leaving California because of a shortage of affordable housing.

The Cost of a Hot Economy in California: A Severe Housing Crisis
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I have an issue with Livesteam.
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Old 03-19-2018, 06:26 AM   #22
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Originally Posted by Lex Luthor View Post
Sorry to burst your bubbles. People are leaving California because of a shortage of affordable housing.

The Cost of a Hot Economy in California: A Severe Housing Crisis
I dunno... I live in North Texas and a ton of people have moved here becuase their companies have relocated their worldwide HQs. Toyota and others didn't drag all of their people to TX because of a housing shortage.
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Old 03-19-2018, 08:50 AM   #23
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Originally Posted by Mile High Mania View Post
I dunno... I live in North Texas and a ton of people have moved here becuase their companies have relocated their worldwide HQs. Toyota and others didn't drag all of their people to TX because of a housing shortage.
There’s never one answer that covers all situations. I was responding to the posters who think that because some people leave California, that’s some kind of proof that California’s economy is not performing well.
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Old 03-19-2018, 08:51 AM   #24
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Excellent rebuttal, LiveSteam. Informative AND convincing.
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Old 03-19-2018, 11:23 AM   #25
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Originally Posted by CoMoChief View Post
So this must be the reason why people are leaving the state of CA in record numbers.

...because of their "booming" economy.

Whatever the reason, it needs to be stopped. People leaving California is like cancer spreading. It needs contained if it can't be eliminated!! Build the wall between California and America I say!!




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Old 03-19-2018, 11:31 AM   #26
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Originally Posted by CoMoChief View Post
So this must be the reason why people are leaving the state of CA in record numbers.

...because of their "booming" economy.

https://www.statista.com/statistics/...in-california/

Well, I wish they would hurry the **** up and get on with it. With almost 40 million people, we could use some relief.

https://www.google.com/imgres?imgurl...XKFtXebM&hl=en
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Old 03-19-2018, 06:11 PM   #27
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Originally Posted by CoMoChief View Post
So this must be the reason why people are leaving the state of CA in record numbers.

...because of their "booming" economy.

Most of the people leaving CA are 35 years old or younger because the cost of housing or renting is sky high off the charts. Rents on a one-bedroom in San Diego average $1,547 and a three bedroom house will run over $500,000. I moved here is 96 and the price of our house has tripled in price. It's crazy. My Wife could sell our house and buy the same size house in Kansas City and live like kings.
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Old 03-20-2018, 01:23 AM   #28
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Geno taught me something, and that's not to get too high on guys like Mahomes.
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Also Trubisky completely soured me during his Bowl game. Do not want. As for Mahomes, i would be shocked if a good QB ever came out of that school. The best TTU QB of all time (in NFL terms) is Billy Joe ****ing Tolliver.

One thing about Kizer: I think Notre Dame was so much of a shitshow, overrated program that he could have some untapped potential in a more stable environment. I like his talent the most out of all these guys.
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Old 03-20-2018, 01:31 AM   #29
DaneMcCloud DaneMcCloud is offline
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Originally Posted by CoMoChief View Post
So this must be the reason why people are leaving the state of CA in record numbers.

...because of their "booming" economy.

Horseshit.

LA is projected to add 42,000 per year in the next 10 years.
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Geno taught me something, and that's not to get too high on guys like Mahomes.
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Also Trubisky completely soured me during his Bowl game. Do not want. As for Mahomes, i would be shocked if a good QB ever came out of that school. The best TTU QB of all time (in NFL terms) is Billy Joe ****ing Tolliver.

One thing about Kizer: I think Notre Dame was so much of a shitshow, overrated program that he could have some untapped potential in a more stable environment. I like his talent the most out of all these guys.
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Old 03-20-2018, 01:56 AM   #30
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Oh no, that whole thing and more will be eaten up by Brown's train from LA to SF. It it already way over budget and at this point will never make its money back.
Dumbest project ever.
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