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Newsjock

(11,733 posts)
Wed Nov 20, 2013, 11:02 PM Nov 2013

Good news, California: Surplus is $2.4 billion

Source: San Francisco Chronicle

For the first time in nearly a decade, California is collecting more revenue than it is spending and will finish the fiscal year with an extra $2.4 billion, according to a report released Wednesday by the Legislature's nonpartisan budget analyst.

The good news comes after an era that saw one of the worst budget crises in California history - the fiscal shortfall sank to $60 billion in the 2009-10 budget, the state controller mailed IOUs to vendors in 2009 and state lawmakers slashed programs year after year to make ends meet.

Now, thanks to the passage of Proposition 30 last year and the improving economy, California is looking at surpluses over the next six years - even after the temporary taxes under Prop. 30 expire, according to the Legislative Analyst's Office.

The legislative analyst projected surpluses of $2.4 billion by June 2014 and $5.6 billion by June 2015. Reserves are projected to continue growing to nearly $10 billion by June 2018.


Read more: http://www.sfgate.com/politics/article/Good-news-California-Surplus-is-2-4-billion-4997158.php

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Good news, California: Surplus is $2.4 billion (Original Post) Newsjock Nov 2013 OP
so jealous here in Illinois. We have had a democratic state legislature for a mucifer Nov 2013 #1
High numbers of Republicans/Tea Partiers in your government? sakabatou Nov 2013 #4
Not really. We do have a lot of democrats in state legis that I wish weren't democrats. mucifer Nov 2013 #5
Rahm isn't a democrat LittleGirl Nov 2013 #7
i'm really hoping to meet him some day. mopinko Nov 2013 #49
We in California voted to raise our taxes. The taxes of people with high incomes went up the most, JDPriestly Nov 2013 #17
This is what Dems could do.. Abukhatar Nov 2013 #29
Sorry, but Illinois Dems are wolves in sheep's clothing. Scuba Nov 2013 #36
yeah. they did raise taxes on the rich, but not enough. Illinois dems are for a large part a mess. mucifer Nov 2013 #39
They still tax food in Arkansas, too Art_from_Ark Nov 2013 #68
Good news! arcane1 Nov 2013 #2
Ahhh... ReRe Nov 2013 #3
Thus, and correct me if I'm wrong, the last surplus... mpcamb Nov 2013 #9
Really? ReRe Nov 2013 #12
The article states there was nearly a full decade of budget deficit preceding... mpcamb Nov 2013 #14
Look it... ReRe Nov 2013 #16
"If you know the answers[to your questions], please state them." mpcamb Nov 2013 #24
I'm from California. JDPriestly Nov 2013 #18
Thank you, JD... ReRe Nov 2013 #20
Now if NiTWit Romney would just get the hell out of California...! SoapBox Nov 2013 #26
If he thinks it is bad here, he should go home to Michigan. JDPriestly Nov 2013 #30
Mitt is a man without a state, isn't he? ReRe Nov 2013 #35
and i say shanti Nov 2013 #47
And he lost all three states to Obama itsrobert Nov 2013 #61
The Governator...never met a pretty little thing he didn't grab her, um, behind. How he got away libdem4life Nov 2013 #31
+1 Betsy Ross Nov 2013 #44
Enron was involved in the Grey Davis downfall. I think it had to do with the manipulation demosincebirth Nov 2013 #65
President Brown... NYC_SKP Nov 2013 #6
Yes. He is a statesman, unafraid to make tough decisions but sure to protect the least JDPriestly Nov 2013 #19
I contributed 100 bucks to his campaign for president. zeemike Nov 2013 #22
Loved his dad too. Betsy Ross Nov 2013 #45
His dad was the best. demosincebirth Nov 2013 #66
Now if only Linda Rondstat could get her singing voice back things would be perfect. shebornik Nov 2013 #48
Yay for Governor Moonbeam! In your face California Republicans. Dollface Nov 2013 #50
He was the one for me. LeftOfWest Nov 2013 #59
Kudos to Governor Brown. This is a guy who doesn't just talk--he gets things done bklyncowgirl Nov 2013 #69
Rec #5 stopwastingmymoney Nov 2013 #8
I was realy surprised when the voters passed Prop 30 procon Nov 2013 #10
THAT'S what every state needs to do. NO MORE Corporate Welfare or Billionaire tax cuts. nt Tigress DEM Nov 2013 #13
This is what happens when you get rid of republicans. JaneyVee Nov 2013 #11
And no coniving Scott Walker Plucketeer Nov 2013 #15
Noooooo...it's always lurking...the Northern CA and Southern CA versions of "divorce" are bad libdem4life Nov 2013 #33
I'm curious about the state of affairs for the low income in Cali passiveporcupine Nov 2013 #21
It's income taxes doing the job Z_California Nov 2013 #43
As one of those low income Californians -- Hell Hath No Fury Nov 2013 #54
I'm not against taxes passiveporcupine Nov 2013 #60
No Republi-khan Interference = Widespread Prosperity cer7711 Nov 2013 #23
Yes...can we dream of blue Florida, as well? I believe Wendy and the Castro twins can deliver Texas. libdem4life Nov 2013 #34
Operating in the blue yes BUT.. karadax Nov 2013 #25
Well, there's debt and there's "debt" haele Nov 2013 #56
Excellent post! n/t DebJ Nov 2013 #58
I love my California! SoapBox Nov 2013 #27
Excellent. silverweb Nov 2013 #28
Who would'a thunk that government could actually work? truthisfreedom Nov 2013 #32
That's because we removed the dumb-ass conservatives from power here. nt bemildred Nov 2013 #37
The last straw was delivered by us ordinary people nolabels Nov 2013 #55
YAY! yuiyoshida Nov 2013 #38
It would only take one Republican governor to put California back in the red. olddad56 Nov 2013 #40
Or a Democrat like Gray Davis. nt NYC_SKP Nov 2013 #51
And so if you're a Republican... CANDO Nov 2013 #41
But...but... Z_California Nov 2013 #42
It is a surplus if you ignore debt and unfunded liabilities. Throd Nov 2013 #46
Now let's see them put some of it back into the social safety net KamaAina Nov 2013 #52
Let's please alert the public that CA is run by Democrats :) TheDonkey Nov 2013 #53
That's what happens when the good guys are in charge. Iggo Nov 2013 #57
Liberal policies to the rescue! JEFF9K Nov 2013 #62
A rec for Cali BrotherIvan Nov 2013 #63
Right-wingers swear that people are flocking out of the state to Lake Tahoe/NV side. Starry Messenger Nov 2013 #64
Last Time We Saw a Surplus allinthegame Nov 2013 #67

mucifer

(23,374 posts)
1. so jealous here in Illinois. We have had a democratic state legislature for a
Wed Nov 20, 2013, 11:03 PM
Nov 2013

long time . We have a dem governor. Yet, we have crazy amounts of high debt and it gets worse every year.

mucifer

(23,374 posts)
5. Not really. We do have a lot of democrats in state legis that I wish weren't democrats.
Wed Nov 20, 2013, 11:11 PM
Nov 2013

And the mayor of my city Chicago calls himself a democrat, too.

I am proud to say I didn't vote for Rahm.

mopinko

(69,806 posts)
49. i'm really hoping to meet him some day.
Thu Nov 21, 2013, 12:30 PM
Nov 2013

me "i'm so happy to meet you, your honor. i'm your only fan"

hoping he says, "oh, i have others"

me "i'd love to meet your family some day."

(i actually do approve of MUCH that he has done as mayor. and he is very funny.)

JDPriestly

(57,936 posts)
17. We in California voted to raise our taxes. The taxes of people with high incomes went up the most,
Thu Nov 21, 2013, 12:47 AM
Nov 2013

but we all pay higher sales taxes. That's how California solved this problem under the leadership of Jerry Brown. He deserves a lot of credit.

Abukhatar

(90 posts)
29. This is what Dems could do..
Thu Nov 21, 2013, 02:29 AM
Nov 2013

without the Republican obstructionists - they had thier chance when they deposed Gov Davis but thier destructive policies resulted is almost a decade of financial troubles

 

Scuba

(53,475 posts)
36. Sorry, but Illinois Dems are wolves in sheep's clothing.
Thu Nov 21, 2013, 06:20 AM
Nov 2013

They'll toss you a few bones on social issues (e.g., gay marriage) but still tax food for crying out loud.

mucifer

(23,374 posts)
39. yeah. they did raise taxes on the rich, but not enough. Illinois dems are for a large part a mess.
Thu Nov 21, 2013, 08:34 AM
Nov 2013

mpcamb

(2,855 posts)
9. Thus, and correct me if I'm wrong, the last surplus...
Wed Nov 20, 2013, 11:44 PM
Nov 2013

Was in the first years of Schwarzenegger's term (11/03-1/11 ). i.e., inherited from Grey Davis [San Francisco Chronicle: "For the first time California is collecting more revenue than it is spending California is collecting more revenue than it is spending ,,,,"]

Ah, those fiscally responsible Republicans, who brought on a decade of wallowing in debt.

ReRe

(10,597 posts)
12. Really?
Thu Nov 21, 2013, 12:19 AM
Nov 2013

I'm not a native Californian, nor a resident thereof. Seriously, I don't think I'm clear on what you're saying. Maybe a DU-er from Call-a-forn-i-a can answer your question about the prosperous years of Schwarzenegger. Didn't most states pretty much go belly-up shortly before or after Sept 14, 2008? Wasn't Enron tangled up in the Grey Davis downfall?

mpcamb

(2,855 posts)
14. The article states there was nearly a full decade of budget deficit preceding...
Thu Nov 21, 2013, 12:33 AM
Nov 2013

the 2.4 billion surplus, On board for that?
The next 8 years were Schwarzenegger's, deficit years, dating from before the, excuse me , REPUBLICAN sponsored real estate crisis. What I remember as a non-Californian, also, was that ENRON and Ron Lay were the main sponsors of GWB and the gang of thieves who dragged us into a needless war.

Check the history. Did Schwarzenegger ever run a surplus that he created?

ReRe

(10,597 posts)
16. Look it...
Thu Nov 21, 2013, 12:44 AM
Nov 2013

I do not know the answers to your questions. If you know the answers, please state them. You and I are having a failure to communicate momment. Wait a while and someone will come along and set us both straight, OK? Relax a minute, will you? Patience is a virtue.

mpcamb

(2,855 posts)
24. "If you know the answers[to your questions], please state them."
Thu Nov 21, 2013, 01:39 AM
Nov 2013

I can only find 2 things that could be construed as questions:

1) "The article states there was nearly a full decade of budget deficit preceding...
the 2.4 billion surplus, On board for that?"
Well, if there's a problem with that take it up with the Chronicle. They wrote the story.
2) "Did Schwarzenegger ever run a surplus that he created?" I'm sure if he had one in his first year (elected following the recall of Davis) beginning October, 2003, or the next year, one could say it was inherited from the previous administration. (If you want to argue that, fuggetaboudit; I'm going to bed after I type this.)

Also, I just referred you back to the article in reply #14. Read up, look up.
Hope this answers your concern about those questions. If you're in love w/ S'negger that's fine. I don't think he was a good Governor, despite the press's infatuation with Hollywood.

And 'moment' only has 2 m's.

JDPriestly

(57,936 posts)
18. I'm from California.
Thu Nov 21, 2013, 12:54 AM
Nov 2013

Schwarzenegger borrowed and borrowed and borrowed and refused to raise taxes. Since Prop. 13, it is difficult to raise taxes in California. Jerry Brown came in, offered one of two referendums on our ballots to raise our taxes, and got enough public support for the rise that he was able to restore balance in our finances. Jerry Brown also cut spending, but without the higher tax revenues, the state would have not had the kind of success in dealing with its budget difficulties that it has had.

Those with higher incomes got the biggest tax hikes. That is only fair since those with higher incomes also got the higher share of the growth in the productivity nationwide in the last, what, 30 years.

But all of us are paying higher sales taxes.

It is a matter of inspiring the public will to make ends meet on the state level.

California Care is thus far succeeding in our state. California is becoming a leader and a shining example of responsible government and good citizenship. Old fashioned values that Republicans seem to have forgotten.

Schwarzenegger was a nightmare in my opinion. He did not understand the principles of American government, and I am so glad that he is back to pretending in the movies and no longer pretending to be our governor.

ReRe

(10,597 posts)
20. Thank you, JD...
Thu Nov 21, 2013, 01:12 AM
Nov 2013

... you restorith my faith. There for a minute I thought I had gone completely over the hill and was headed down the other side. Actually, I thought his personal behavior might be overshadowing his success as a governor (in my mind.)

SoapBox

(18,791 posts)
26. Now if NiTWit Romney would just get the hell out of California...!
Thu Nov 21, 2013, 01:54 AM
Nov 2013

Ya know...his little protest against how "bad" it is here!

I can dream

ReRe

(10,597 posts)
35. Mitt is a man without a state, isn't he?
Thu Nov 21, 2013, 03:46 AM
Nov 2013

MI, MA, and now CA. Maybe he thinks he can hang around CA and rise in politics there?

 

libdem4life

(13,877 posts)
31. The Governator...never met a pretty little thing he didn't grab her, um, behind. How he got away
Thu Nov 21, 2013, 02:55 AM
Nov 2013

with old nude photos of himself...only thing I could think of was that it was a kind of an honorarium to his wife Maria (Kennedy). Seems she kept the kids together and safe from his philandering. (Just happened to see a gossip rag while standing in a long grocery line. Said she was dating now. She still looks amazing.)

It was more like a Rocky Horror Show. Give me the Zen Governor any day. He's done us proud.

demosincebirth

(12,518 posts)
65. Enron was involved in the Grey Davis downfall. I think it had to do with the manipulation
Thu Nov 21, 2013, 11:32 PM
Nov 2013

of the electric power grid which cost California billions.

 

NYC_SKP

(68,644 posts)
6. President Brown...
Wed Nov 20, 2013, 11:16 PM
Nov 2013

I still have my button. Somewhere. If we can't have Warren, I'll love me some Brown!

JDPriestly

(57,936 posts)
19. Yes. He is a statesman, unafraid to make tough decisions but sure to protect the least
Thu Nov 21, 2013, 12:55 AM
Nov 2013

among us. A good governor.

zeemike

(18,998 posts)
22. I contributed 100 bucks to his campaign for president.
Thu Nov 21, 2013, 01:28 AM
Nov 2013

that is all he would accept from any one person...
And I ran as a delegate on the ballot...in a very red state.
But he would have been a great president.

bklyncowgirl

(7,960 posts)
69. Kudos to Governor Brown. This is a guy who doesn't just talk--he gets things done
Fri Nov 22, 2013, 02:16 PM
Nov 2013

Seriously, he's done a great job straightening out California. He'd be the perfect candidate against Chris Christie. Real accomplishment as a governor vs the illusion of accomplishment.

Too bad he's not a few years younger, we could use his political savvy and management experience in the White House. I've got an old Jerry Brown button I could pull out of the drawer with my other collection of losers and lost causes.

procon

(15,805 posts)
10. I was realy surprised when the voters passed Prop 30
Wed Nov 20, 2013, 11:58 PM
Nov 2013

You couldn't turn on the radio of TV without getting smacked by non-stop, scary rightwing ads, "OMG its the end of life as we know it!" The bill raised taxes for the upper income brackets and also increases our state sales tax... and now there's no argument that it's not working!

 

libdem4life

(13,877 posts)
33. Noooooo...it's always lurking...the Northern CA and Southern CA versions of "divorce" are bad
Thu Nov 21, 2013, 03:01 AM
Nov 2013

enough. Lived decades in both. But together, we're awesome. Moved on from the state of "the fruits and nuts. LOL

passiveporcupine

(8,175 posts)
21. I'm curious about the state of affairs for the low income in Cali
Thu Nov 21, 2013, 01:17 AM
Nov 2013

A sales tax is a regressive tax. I understand your government is doing better, but how are the poor doing? Are there enough jobs? Are their wages livable? If not, I can't imagine them coming out better with an increase in sales tax. Of course, in a recession people cut back on purchasing things they don't need...especially the most needy of us, so maybe the sales tax didn't affect the things they did need, like food and medicine?

I live in a state without sales tax and I hope we never have one here. I think all taxes need to be progressive.

Z_California

(650 posts)
43. It's income taxes doing the job
Thu Nov 21, 2013, 11:20 AM
Nov 2013

My sales tax rate, if it's changed at all, is not up more that a quarter point. The top income tax rate went from 10% to 13% (or something along those lines - not exact numbers).

 

Hell Hath No Fury

(16,327 posts)
54. As one of those low income Californians --
Thu Nov 21, 2013, 02:34 PM
Nov 2013

I am perfectly OK with the sales tax I pay, which is 8.75% here in SF where I live. We Californians -- of all incomes -- like our nice things (parks, roads, rest stops, public art, community colleges, clean environment, etc.) and are willing to pay for them. For many years I paid SF sales taxes, taxes that helped fund City-financed, neighborhood healthcare for our most needy citizens. Due to not having insurance at one point, I myself had to use that taxpayer funded City system -- it literally saved my life and it cost me next to nothing. I thank the citizens of San Francisco for their generosity, and now happily pay my sales tax so others can benefit from such sales tax-funded services.

I get a lot from sales taxes, and I wouldn't have it any other way.

passiveporcupine

(8,175 posts)
60. I'm not against taxes
Thu Nov 21, 2013, 07:02 PM
Nov 2013

just regressive taxes. A progressive raise in income taxes would do the same thing, but would level the playing field so that the more you earn the more you pay.

cer7711

(502 posts)
23. No Republi-khan Interference = Widespread Prosperity
Thu Nov 21, 2013, 01:35 AM
Nov 2013

Way to go, California!

You got there first, once again. We (the rest of the Union) are right behind ya!!!

Texas & Virginia: soon to be blue . . .

 

libdem4life

(13,877 posts)
34. Yes...can we dream of blue Florida, as well? I believe Wendy and the Castro twins can deliver Texas.
Thu Nov 21, 2013, 03:09 AM
Nov 2013

Don't know as much about Virginia, other than it seems they just scored a Democratic Trifecta, provided the recount for AG goes well. Things are looking up...from a optimistic point of view.

karadax

(284 posts)
25. Operating in the blue yes BUT..
Thu Nov 21, 2013, 01:48 AM
Nov 2013

When you combine the debts of state and local government California is still close to $1 trillion in the hole.

Pay off the debt or restore the gutted programs with the surplus ? I'm interested to see where this leads.

haele

(12,581 posts)
56. Well, there's debt and there's "debt"
Thu Nov 21, 2013, 03:24 PM
Nov 2013

One of the things I learned in both Macro Economics and Financial Management (both taught from a PhD who used to run B of A's foriegn fleet leasing program before his second PhD) is that running a debt that invests when you have enough income to continue to pay the debt is actually considered economically sound. For indivuals, that means things like a mortgage, a car to get you to and from work, and a credit card for emergancies. For businesses, it means loans or leases on operating equipment, raw materials, and facilities. For governments, its pension payments to keep their retirees from costing the public even more by keeping them off the streets and public works that employ people and reduce operational costs in the long run through improved, efficient infrastructure.
As long as you can make headway on your debts, debt itself isn't bad.

In fact, if you work at an incorporated business, your paycheck is a debt "on the books" your employer has to identify and set aside at the beginning of the fiscal year on their ledgers as a payable account for accounting purposes, and the cash to pay you is usually accrued six to eight months in advance by the company.

Now, bad debt is taking your entire month's paycheck and all your credit cards, blowing it all over the weekend in Vegas on slots, hookers and blow - and then taking out a payday loan to pay the mortgage and bills for the month and make that month's credit card payment. Bad debt is a bad investment, accepting either an increase in intrest payments or a decrease in revenue in exchange for a component in your business model.

That's why tax cuts usually end up in the debt side of the ledger, because the benefit of a tax or revenue cut when budgeting is typically offset by a loss in some form of operating or investment capability. Unless that revenue cut is benefiting someone who would take that money they are not paying the overarching governmental entity and spend that money to improve local government and infrastructure, thereby reducing costs to the larger entity, it's just money needed to keep the community safe and thriving, money that can be used to invest in community good and give returns, that is thrown away on people who don't need it.
If you're going to spend it to improve your situation, it's good debt.
If not - it's bad debt.

$1 trillion "in the hole" doesen't hurt California at all so long as it can be paid down without starving the state. And remember, a good 1/2 of that debt is in legislated or annually budgeted payments that are always going to be on the books, like facilities upkeep, salaries and pensions. (Edit Here) In 2010, the annual Gross State Product for California was $1.9 trillion - and it has increased since then. It's expected to be higher this year, because it's already reached within 5% of that number in August.

Being worried about a debt like that is like sitting your family down and telling them:

"We have to really tighten our belts; we're $100K in debt this year; we're going to go bankrupt if we don't cut costs!- While our annual household income is $80K a year between your mom and me, when I added up everything we owe - the total mortgage and principle on our house, the total outstanding on our car, all our taxes and insurance payments for this year, the internet/cable/cell phone bundle and utilities for this year, Little Johnny's music lessons and Little Billy's allowance, it comes to $100K total and we have to pay it off now, or we'll be in big trouble ten years from now when the kids start going to college and maybe I want to retire."


When in reality, all that needs to be paid out for that year is $30K total of the above costs identified, and they still have $50K to spend as they feel best for the family finances - have a reasonable standard of living and maybe put $5K aside pay down the mortgage, maybe pay off the car, or put in various investments.
Or blow that $5K on a family trip to Disneyland over the summer.
Good Debt/Bad Debt.

Haele

silverweb

(16,402 posts)
28. Excellent.
Thu Nov 21, 2013, 02:24 AM
Nov 2013

[font color="navy" face="Verdana"]So now can we devote a percentage of that surplus to actually doing something solid and lasting about the situation of the homeless around our state?

truthisfreedom

(23,113 posts)
32. Who would'a thunk that government could actually work?
Thu Nov 21, 2013, 02:58 AM
Nov 2013

The teabaggers are attempting to prove that government can't work by destroying its ability to collect taxes or spend money.

nolabels

(13,133 posts)
55. The last straw was delivered by us ordinary people
Thu Nov 21, 2013, 03:06 PM
Nov 2013

and it looks like it's paying off again!

California Citizens Redistricting Commission

"Fair Representation―Democracy At Work!"
http://wedrawthelines.ca.gov/

Republicans hate us for it

olddad56

(5,732 posts)
40. It would only take one Republican governor to put California back in the red.
Thu Nov 21, 2013, 09:43 AM
Nov 2013

especially if that one republican was another B grade movie star like Reagan or Arnie.

 

CANDO

(2,068 posts)
41. And so if you're a Republican...
Thu Nov 21, 2013, 10:15 AM
Nov 2013

Instead of paying down the accrued debt, you give away the surplus in the form of tax cuts(mostly to the wealthy).

Z_California

(650 posts)
42. But...but...
Thu Nov 21, 2013, 11:17 AM
Nov 2013

How is this possible? The devastating tax increases were supposed to destroy the economy, kill jobs, and make all the rich people move to Texas???

It's sad that I have to do this ---->

 

KamaAina

(78,249 posts)
52. Now let's see them put some of it back into the social safety net
Thu Nov 21, 2013, 01:34 PM
Nov 2013

Medi-Cal (Medicaid), CalWORKS (welfare), and In-Home Supportive Services for seniors and the disabled have all been cut to the bone. So has higher education, especially the community colleges and CSU.

TheDonkey

(8,911 posts)
53. Let's please alert the public that CA is run by Democrats :)
Thu Nov 21, 2013, 02:08 PM
Nov 2013

Super majorities in the legislature and a Democratic Governor.

Keep up the good work Sacramento!

BrotherIvan

(9,126 posts)
63. A rec for Cali
Thu Nov 21, 2013, 10:53 PM
Nov 2013

And we're getting our infrastructure back on track. We desperately need it. Along with much much better public transportation. And high speed rail. And colleges and education. And...

Go CA! We're sorry for Issa and Feinstein but we're trying to make up for it in other ways.

Starry Messenger

(32,342 posts)
64. Right-wingers swear that people are flocking out of the state to Lake Tahoe/NV side.
Thu Nov 21, 2013, 11:11 PM
Nov 2013

I can't imagine that the monied techbros are all taking off into the wilds. Obviously people stayed even with the taxes.

I echo the need for CA to help the homelessness ravaging Silicon Valley.

allinthegame

(132 posts)
67. Last Time We Saw a Surplus
Fri Nov 22, 2013, 01:02 AM
Nov 2013

We spent it like kids on Halloween candy overload. Let's hope it doesn't happen this time because it took us years to dig out of the
last mess.

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