Now even the mainstream media has had it with Guv Brown. The LA Times is reporting most of the facts over the Big Lie: Our Budget is Balanced press release sent by Guv Brown.
“But numerous reports by state agencies, think tanks and academics have shown the wall of debt to be many stories higher than $28 billion — hundreds of billions of dollars over the next few decades. Brown’s repayment plan does not significantly reduce the sizable debt to Wall Street or account for promises the state has made to its current and future retirees but is not setting enough money aside to cover.
“If we just ignore these longer-term pressures, we’re going to be back in the soup soon,” said Mike Genest, who was budget director for Gov. Arnold Schwarzenegger.”
See the full story by clicking on the blue headline
California’s debt still a heavy cloud over state’s future
Gov. Jerry Brown’s new budget presented a plan to pay back nearly $28 billion owed, but various sources estimate the state’s debt at hundreds of billions.
By Evan Halper and Chris Megerian, Los Angeles Times, 1/14/13
TO SEE COMPLETE STORY CLICK ON BLUE HEADLINE
The cost of closing the gaps in California’s major public pension funds would be considerable. The State Budget Crisis Task Force, a bipartisan think tank based in New York, reported in September that every Californian would have to contribute $3,635 to cover the shortfalls. Paying for retiree healthcare might add a couple of thousand dollars to that tab.
The state’s borrowing from Wall Street in recent years also comes at a cost. According to the state treasurer’s office, it will cost $2,559 per Californian to pay that back. Texas, by contrast, has taken on just $588 of debt per resident.
Sorry Marten, you are sadly mistaken. Obama has now created more debt than all previous administations combined (including Bush) and counting. Also, most recently budgets were balanced by Republican congresses the last being by Newt Gingrich during the Clinton Administration. Let’s give credit where credit is due!
January 15, 2013 at 12:09 pm
Remember in the 1995 when Newt Gingrich tried to eliminate the American dream in his radical budget? Remember when he shut down the government? Remember when he had the pay three hundred thousand dollars for ethics violations? Remember when he borrowed money from Bob Dole? Remember when he hammered Bill Clinton but we found out he had been having an affair when his wife was in the hospital for multiple sclereosis? Yeah I remember Mr. Family Values! God I hope he runs for president in 08 just to see him gat has fat ass raped!
January 15, 2013 at 12:41 pm
Remember that about 75% of our national debt was caused by the last 3 Republican presidents! (Reagan, Bush41 and Bush43) The last two times the national budget was balanced a Democrat was president!! (Lyndon Johnson 1969 and Bill Clinton 2000)
January 15, 2013 at 8:40 am
You forgot to mention they both had Republican Congress. Get your facts straight.
January 15, 2013 at 9:28 am