Don't Just Stand There...

spend something!

A number of headlines in the papers the last couple days over the state budget being passed on time for a change.

Passing the budget by the deadline is ominous news in itself since the last time the budget passed on time was fiscal year 2000- 2001(?). That's the one where the Governor and legislature went bananas spending all the money from the dot com boom and got us into the budget mess we're in today.

Said the Governator about the budget:

"We put politics aside here and we were driven by one overwhelming desire to what is best for California. Because of that, for the first time in six years, California has a budget in place before the start of a new fiscal year,".

You'd think he'd be smart enough to not emphasize passing the budget on time.
*******

In the 1998-99 budget year, the last Pete Wilson budget, general fund spending in California was $57.8 billion (with general fund revenues at $58.6 billion. Spending rose from $57.8 billion to $78 billion in two budget cycles, (budget years 99-00 and 00-01). If the state had simply grown its government taking into account inflation and population growth during this time, it would have a surplus today. Instead, the state increased spending by $20 billion, and created a deficit in the 01-02 budget year. That year, the state overspent revenues by $11 billion. When Governor Davis borrowed the money to cover that shortfall, he created the debt that still plagues us today. - State Assemblyman Ray Haynes, Jan. 24, 2005