Again, the state of California is short $8 billion in its budget. Before we even have the special election to tax ourselves, the latest budget is coming apart by the seams. Estimated figures are turning out to be estimates and bad ones at that.
So just to recap, we had been told the budget was short $42 billion. And now the budget office says there is another $8 billion missing. So in total, the state is short $50 billion. Thats half way to a 100 billion. Which is only ten fold away from a trillion. You should get my point. When will the madness stop? [California Budget Runs $8 Billion Short, Analyst Say. Bloomber]
Furthermore, if the state is short $50 billion, why was it still hiring new employees. The Sacramento Bee just published a report that while a "hiring freeze" should have been in effect, there was actually a fair amount of people hired. [California's State Work Force Grew Despite Budget Woes anc Cut Promises. Sacramento Bee] Further proof that large government is inneficient and not the solution.
I'm shocked, shocked to learn that the State powers-that-be over-estimated the amount of revenue. Shocked I say!
The madness will stop when the state's credit rating completely tanks and people stop buying bonds. The State will go bankrupt and we'll start at 0 again.
Anyone that can move to NV or AZ will and the state will have to budget starting at 0 instead of calling reduced increases, cuts.
sigh :(