Tag California budget

Among the cuts to close the gaping $20 billion California deficit could be welfare programs “including the main one that provides cash and job assistance to families below the poverty line.” That sounds like food stamps to me. So, those…

A Sacramento judge ruled last week that the State of California can raid $2 billion of local redevelopment money and use it to pay for schools. A spokesperson for Gov. Schwarzenegger said “We dodged a bullet. This would have added…

The Observer has a solid if depressing overview of the enormous financial problems facing the State of California now. Much has been made globally of the problems of Ireland and Iceland. Yet California dwarfs both. It is the eighth largest…

California cities irked by borrowing plan California Gov. Arnold Schwarzenegger, wants to invoke a 2004 law to force municipalities to loan the state 8% of their property tax revenues. Administrators of already cash-strapped cities and counties said the loans would…

The California shortfall now stands at $24.3 billion and the state is quickly running out of money. The only way the legislature can make up the difference will be with bludgeon-like budget cuts. It’s going to get real ugly. Yet…