The governor released his May Budget Revise. The hallmark of the Revise is not its spending, but its spending restraint. Before we focus on new spending, we need to pay off our old obligations. I am glad to see the governor is continuing to call for fiscal responsibility.
One thing is clear – there is no “surplus” in California’s budget. Certainly the state budget is on solid ground, and we are no longer debating spending cuts and more taxes. But that’s only because the voters were told the money would go to education and public safety and approved a $45 billion tax increase.
Speaking of debt, the Legislative Analyst’s Office tells us that there’s more than $340 billion of state debt and unfunded …read more
Source: State Senator Bob Huff