California To Have A Budget Surplus

[dangolegators]

Why do cons find it so upsetting that California might have balanced its budget?

[Gatoragman]

Not a single remark on this thread where a con is upset!!!! Maybe not believing the article as much as some, but no where do I see anyone upset.

[mastoidbone]

CA finances are horrible---mostly due to insanely high govt worker pay and benefits.
Unfunded liabilities are worth 500 BILLION.
Lets say that again 500 BILLION.

So if you ignore the LEGAL obligation of future pensions---which are SEVERAL TIMES LARGER THEN TOTAL BUDGET---things are great.
http://articles.latimes.com/2010/apr...ane6-2010apr06

http://www.calwatchdog.com/2011/08/2...nded-pensions/

[Dreamliner]

Originally Posted by Gatoragman

Not a single remark on this thread where a con is upset!!!! Maybe not believing the article as much as some, but no where do I see anyone upset.

They're probably just not buying it.

[Dreamliner]

Originally Posted by mastoidbone

CA finances are horrible---mostly due to insanely high govt worker pay and benefits.
Unfunded liabilities are worth 500 BILLION.
Lets say that again 500 BILLION.

So if you ignore the LEGAL obligation of future pensions---which are SEVERAL TIMES LARGER THEN TOTAL BUDGET---things are great.
http://articles.latimes.com/2010/apr...ane6-2010apr06

http://www.calwatchdog.com/2011/08/2...nded-pensions/

... and also if you ignore the fact that they've decided to pay back less money this year that they've borrowed from rainy day funds.

[wygator]

I think the trick is that balancing an individual budget year doesn't address the total accumulated debt of the state which, according to State Budget Solutions, is $617 billion or double the total debt of the state of New York.

http://hotair.com/greenroom/archives...ked-the-worst/

[dangolegators]

Originally Posted by wygator

I think the trick is that balancing an individual budget year doesn't address the total accumulated debt of the state which, according to State Budget Solutions, is $617 billion or double the total debt of the state of New York.

http://hotair.com/greenroom/archives...ked-the-worst/

California has twice the population of New York, so you aren't saying anything here.

[DeanMeadGator]

Originally Posted by ATLitigator

you missed the last line and a half.......see..."...accounting gimmicks. The projected surplus is now the latest surprise."

they slashed their deficit and PROJECT a surplus with ACCOUNTING GIMMICKS

what did they do about all those inflated pensions...?

If California is doing so well, why have some well-known California cities filed bankruptcy under the recently enacted municipality bankruptcy sections of the Bankruptcy Code?

[Dreamliner]

Originally Posted by DeanMeadGator

If California is doing so well, why have some well-known California cities filed bankruptcy under the recently enacted municipality bankruptcy sections of the Bankruptcy Code?

I recently found out that San Bernardino is the second-poorest city in the nation of its size. It's almost Detroit-poor.

[DeanMeadGator]

Originally Posted by dangolegators

Why do cons find it so upsetting that California might have balanced its budget?

Because it is false. If it was true, everyone would be happy.

The Obama administration has divided this country in a way I never thought possible. It is crystal clear that there is a huge fight between the parties, regardless of what is best for the country.

If you have children and/or grandchildren, as them what they think of us after we shamelessly ruin their futures by burdening them with a $20 trillion [or higher] debt. In previous generations, every parent wanted their child to have a life better than theirs. Contrast this with our endless consumption and retreat from our moral obligation to our children.

At 68 years old, I would gladly give up benefits [for which I have paid for the past 48 years] so our children and 6 grandchildren will have better lives.

We should all be ashamed of our gutless, selfish and immoral consumption of the economic futures of those who depend on us to make their lives better.

[DeanMeadGator]

Originally Posted by rivergator

there you guys go. If a liberal state balances the budget, it must be cheating.

Excerpt from Governor's Budget Summary:

As shown in Figure INT‑03, the debt
has already been reduced to less than
$28 billion. Under current projections,
it will be reduced to less than
$5 billion by the end of 2016‑17

[mocgator]

Originally Posted by dangolegators

Why do cons find it so upsetting that California might have balanced its budget?

I will bet money that by Dec 31, 2013 that Cali's budget isn't balanced. Just wait until their anticipated tax revenues fall short of projection. It is absolutely guaranteed.

[dangolegators]

Originally Posted by mocgator

I will bet money that by Dec 31, 2013 that Cali's budget isn't balanced. Just wait until their anticipated tax revenues fall short of projection. It is absolutely guaranteed.

It's possible, but certainly not 'absolutely guaranteed'. It's just what you want to see happen so you can have your conservative worldview reinforced.

Now if you want to talk about states with budget issues and using accounting gimmicks to cover it up, let's talk Texas.

[myamiG8R]

Originally Posted by dangolegators

Why do cons find it so upsetting that California might have balanced its budget?

THIS is the problem... no one is upset if california has a balanced budget, though some folks may question that california actually has a balanced budget...

but if someone calls something into question, YOU PEOPLE need to throw out a label rather than simply respond to the question...

example...conservative comment... i am not sure quotas are the best way of assuring people of all races equal opportunity to jobs... liberal response... RACIST!

example... conservative comment... should we really designate certain crimes as "hate crimes"? isn't pummeling someone to death deserving of the same punishment no matter the reason? liberal response... HOMOPHOBE...

there are many other examples...

[mastoidbone]

again--every state but 1 or 2 balances budget----does not mean it is financially healthy.

Again---lets talk about 500 BILLION in lavish pensions for govt workers who average pension is 72,000 a year for fully vested retiree today.

[dangolegators]

Originally Posted by mastoidbone

again--every state but 1 or 2 balances budget----does not mean it is financially healthy.

Again---lets talk about 500 BILLION in lavish pensions for govt workers who average pension is 72,000 a year for fully vested retiree today.

That, and we can talk about overpaid doctors too.

[wygator]

Originally Posted by dangolegators

California has twice the population of New York, so you aren't saying anything here.

Just saying that despite projecting one year of a balanced budget, they have serious debt problems that are going to burden the states and taxpayers for years to come, perhaps indefinitely.