re: LA budget surplus now at $500M

quote:

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A surplus is a policy failure.

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It can be. It can also be a forecasting error. Or a sudden boom in the economy.

But yes in this case it is a policy failure in the sense that we are being taxed more than we need.

But it's actually a little bit of a policy success as well. Remember all the bitching and moaning the media unleashed on the Republicans because they refused to increase the revenue forecast? That kept spending down, which results in the surplus (or some part of it) now.

So yes, taxes are too high, but at least that money won't be put in the operational side and balloon the budget more than it already has been.