California Deficit Swells to $16 Billion, Governor Says - Bloomberg:
"California’s budget deficit has swelled to $16 billion after tax collections trailed projections amid the tepid economic recovery, Governor Jerry Brown said in a comment on his Twitter post.
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“We are still recovering from the worst recession since the 1930s,” Brown said in a YouTube video cited on his Twitter post. “Tax receipts are coming lower than expected and the federal government and the courts have blocked us from making billions of necessary budget reductions. The result is that we are now facing a $16 billion deficit.”I am unaware of a political leader citing an escalating surplus via Twitter.
So Ontario has a GDP of $612 billion and California $1.9 Trillion. Ontario's Population is 13 million versus 37 million in California but on annual deficits we are the same at $16 Billion each! Makes you proud to be an Ontarian eh? We can spend better then those left coasters!
ReplyDeleteThat's a very insightful connection Parker.
ReplyDeleteTo indicate how serious this is, I've now used Twitter to get the message out:
"Drastic measures proposed as California's deficit climbs to Ontario's $16 billion level. Hmmmmm....http://latimesblogs.latimes.com/california-politics/2012/05/jerry-brown-to-unveil-16-billion-in-cuts.html"