Shortfall in California’s Budget Swells to $16 Billion
May 13th, 2012Via: New York Times:
The state budget shortfall in California has increased dramatically in the last six months, forcing state officials to assemble a series of new spending cuts that are likely to mean further reductions to schools, health care and other social programs already battered by nearly five years of budget retrenchment, state officials announced on Saturday.
Gov. Jerry Brown, disclosing the development in a video posted on YouTube, said that California’s shortfall was now projected to be $16 billion, up from $9.2 billion in January. Mr. Brown said that he would propose a revised budget on Monday to deal with it.
Posted in Economy | Top Of Page
Pardon me for asking the obvious question, but I have to…”Is California the ‘Greece’ of the United States?”