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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.
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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 11:35 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 11:44 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 11:49 am to RedRifle
They don't have a dime of that if laid against their pension debt.
Posted on 3/4/18 at 11:50 am to RedRifle
what about the half a trillion they owe the federal govt?
Posted on 3/4/18 at 12:12 pm to RedRifle
So they should be able to fix the traffic and homeless problem easily then.
Posted on 3/4/18 at 1:04 pm to RedRifle
quote:
the state is projecting a $6.1 billion surplus for the next fiscal year, which begins July 1
Title is misleading.
Posted on 3/4/18 at 1:13 pm to RedRifle
Sounds like good news for California’s budget. Bad news that it had to all come from tax increases, but I don’t live there so whatever.
Posted on 3/4/18 at 1:38 pm to RedRifle
So this would be equivalent to you personally saving $6.1k for the year but still having $100k credit card debt.
Posted on 3/4/18 at 1:59 pm to RedRifle
Then they should cut taxes
Posted on 3/4/18 at 2:19 pm to RedRifle
quote:
Mr. Brown said Wednesday that the state is projecting a $6.1 billion surplus for the next fiscal year, which begins July 1.
4 pages and only Vegas-tiger read the most important detail.
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