Post by Buckeye Dale on Jan 10, 2017 15:56:31 GMT -5
LOL...Moonbeam strikes again...
Gov. Jerry Brown predicts a $1.6-billion deficit as he unveils state budget
John Myers
Less than four years after declaring California’s budget was balanced for the foreseeable future, Gov. Jerry Brown on Tuesday said the state is now projected to run a $1.6-billion deficit by next summer.
"The trajectory of revenue growth is declining," Brown told reporters at the state Capitol on Tuesday as he unveiled the state's budget.
The $179.5-billion plan seeks to resolve the budget shortfall by slower-than-expected growth in public school funding by rolling back a series of one-time expenses discussed during last year's budget negotiations.
Brown's budget does not take into account a repeal of the Affordable Care Act, which would be unlikely to happen during the fiscal year at hand. But the governor made clear such a rollback could have a significant impact on California, where federal subsidies to Medi-Cal now top $16 billion.
"That's very bold," said Brown of efforts by Republicans and President-elect Donald Trump, "and, I think, a move that isn't very consistent with decency or even being a very smart political leader."
Gov. Jerry Brown predicts a $1.6-billion deficit as he unveils state budget
John Myers
Less than four years after declaring California’s budget was balanced for the foreseeable future, Gov. Jerry Brown on Tuesday said the state is now projected to run a $1.6-billion deficit by next summer.
"The trajectory of revenue growth is declining," Brown told reporters at the state Capitol on Tuesday as he unveiled the state's budget.
The $179.5-billion plan seeks to resolve the budget shortfall by slower-than-expected growth in public school funding by rolling back a series of one-time expenses discussed during last year's budget negotiations.
Brown's budget does not take into account a repeal of the Affordable Care Act, which would be unlikely to happen during the fiscal year at hand. But the governor made clear such a rollback could have a significant impact on California, where federal subsidies to Medi-Cal now top $16 billion.
"That's very bold," said Brown of efforts by Republicans and President-elect Donald Trump, "and, I think, a move that isn't very consistent with decency or even being a very smart political leader."
