California budget deficit

The deficit in California was $14 billion, but now it’s $17 or $20 billion, or maybe more or less, thanks for asking. Isn’t it reassuring that no one apparently has a clue how big the deficit is? You may remember that Governor Schwarzenegger swept into office by promising to balance the budget. Well, the Banrupterator plans to do this by borrowing against future lottery revenues. Those revenues are mandated to be spent for education so the state, under his wise and prudent plan, will replenish that money from the general fund, which in turn will be repaid from, ta da, lottery proceeds. Only the truly cynical, or perhaps those with basic math skills, would say this is a desperation shell game that will probably just make things worse.