Gov. Jerry Brown: California's deficit is gone (now w/ Surplus) (1 Viewer)

[Short Corner]

So a retroactive tax increase caused tax receipts to go up in April (go figure) and now they are projecting the surplus for 2014. I'm not holding my breath unless the voters can manage another retroactive increase on somebody else's dime. I guess it's better than the plan that called for prepaying the following years tax so the bureaucrats could balance the present years budget.

And no one seems to want to address the elephant in the room, ie the looming CALPERS default.

 

[Dinsy Ejotuz]

Things just keep getting worse in the liberal hellscape of California.

 

[Henry Ford]

Things just keep getting worse in the liberal hellscape of California.

Yeah, bet they wish they'd gotten some Republican leaders like Louisiana

 

[Bucky86]

Can we now legalize weed and tax it?

 

[joffer]

Yeah, bet they wish they'd gotten some Republican leaders like Louisiana

Sam Brownback likes this

 

[Good Posting Judge]

Things just keep getting worse in the liberal hellscape of California.

Lots of wealthy dudes in CA, and they've MADE IT! Taxes went up, but somehow they are hanging in there. Praises Jesu!

 

[Slapdash]

Cali is going to need that surplus to help cover the pension liabilities.  Good that they're building strength ahead of that.  The minimum wage decision seems a little extreme to me.

 

[jonessed]

Cali is going to need that surplus to help cover the pension liabilities.  Good that they're building strength ahead of that.  The minimum wage decision seems a little extreme to me.

Several hundred billion in unfunded pension liabilities.  That's calculated using the pie-in-the-sky 7.5% annual return rate too.

 

[timschochet]

Cali is going to need that surplus to help cover the pension liabilities.  Good that they're building strength ahead of that.  The minimum wage decision seems a little extreme to me.

From what I understand no amount of surpluses is going to be enough. I have no idea how this is going to pan out. 

 

[Slapdash]

From what I understand no amount of surpluses is going to be enough. I have no idea how this is going to pan out. 

It is going to have to be some type of pensioner haircut

 

[Gachi]

In Mississippi a woman can be fired for wearing pants and in California they give pensions to basically anybody. 

There has to be a happy medium somewhere.

 

[cstu]

From what I understand no amount of surpluses is going to be enough. I have no idea how this is going to pan out. 

#### 'em, cut the pensions.

 

[BigSteelThrill]

In Mississippi a woman can be fired for wearing pants and in California they give pensions to basically anybody. 

There has to be a happy medium somewhere.

Don't need a medium. Needs to be way more on the side of overcompensating working men and women. Sure the pendulum swung too far, but it needs to remain on the side of the working public at large.