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Message
California has a $6.1 billion budget surplus
Posted on 3/4/18 at 11:28 am
Posted on 3/4/18 at 11:28 am
LINK
quote:
LOS ANGELES—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.
26
Posted on 3/4/18 at 11:29 am to RedRifle
What about their unfunded pension liabilities?
Posted on 3/4/18 at 11:29 am to RedRifle
That is pretty impressive considering that state has been a financial black hole for the past two decades it seems like.
Posted on 3/4/18 at 11:30 am to RedRifle
That’s enough to buy like 3 houses in Los Angeles
This post was edited on 3/4/18 at 11:30 am
Posted on 3/4/18 at 11:33 am to TDcline
quote:or one and a half in San Francisco.
That’s enough to buy like 3 houses in Los Angeles
Posted on 3/4/18 at 11:33 am to skinny domino
Thanks Trump.
Posted on 3/4/18 at 11:34 am to TDcline
I thought they need billions to finish light rail from LA to SF ?
Posted on 3/4/18 at 11:35 am to RedRifle
$6 billion in California is like $2 million in the rest of the USA
Posted on 3/4/18 at 11:38 am to RedRifle
Why are people fleeing in record numbers?
Posted on 3/4/18 at 11:38 am to RedRifle
5th or 6th largest economy in the world baw
Posted on 3/4/18 at 11:38 am to RedRifle
Just to be clear, having a budget surplus and actually having money are not the same thing. That just means your assets are valued higher than liabilities, but if they actually had to pay the liabilities they couldn't.
Posted on 3/4/18 at 11:39 am to RedRifle
quote:
tax increases
I don't want a governor that's going to balance the budget by taking more money from me
Posted on 3/4/18 at 11:41 am to Mingo Was His NameO
You need to brush up on your governmental before taking that CPA exam
Posted on 3/4/18 at 11:42 am to Mingo Was His NameO
quote:
That just means your assets are valued higher than liabilities, but if they actually had to pay the liabilities they couldn't.
No, it doesn't.
Posted on 3/4/18 at 11:43 am to Mingo Was His NameO
quote:
Just to be clear, having a budget surplus and actually having money are not the same thing.
Just to be clear not only does CA actually have billions in surplus cash they are trying to figure out what to do with it
At this point adding to state reserves seems the most likely choice, along with increasing school funding
Posted on 3/4/18 at 11:44 am to RedRifle
Seems like they could pay someone to shoot those cows, then.
Posted on 3/4/18 at 11:46 am to RedRifle
I'm not sure that means ready made funds available. TX has a 10B in rainy day funds but couldn't touch it when the flood happened.
Posted on 3/4/18 at 11:47 am to Mudminnow
quote:
TX has a 10B in rainy day funds but couldn't touch it when the flood happened.
How ironic
Posted on 3/4/18 at 11:48 am to Mudminnow
quote:
TX has a 10B in rainy day funds but couldn't touch it when the flood happened.
CA has about the same and one of the proposals is to top off the reserves at about 13.5B
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