No_Such_Reality_IHB
New member
California finally has a budget. In it, none of the systemic issues have been addressed.
The $15 Billion dollar gap was closed via suspension of increases and roughly $8 Billion of borrowing from other revenue streams.
What happens next year? All indications is that California's 7.7% unemployment and weak economy will continue.
"In a series of dire predictions echoed by experts throughout the state, the UCLA Anderson Forecast says that unemployment will continue to increase, consumer spending will decline and tax revenues will plummet." <a href="http://www.latimes.com/news/local/la-fi-calecon24-2008sep24,0,191956.story">Anderson Forecast</a>
What happens when next year, we are facing a steeper revenue shortfall?
Tax increases? Drastic cuts? Both? State shutdown due to impass? I don't foresee Republican's picking up many seats in the Assembly, will they lose enough to lose the roadblock on the supermajority?
Anybody willing to predict the impacts on housing and affordability?
The $15 Billion dollar gap was closed via suspension of increases and roughly $8 Billion of borrowing from other revenue streams.
What happens next year? All indications is that California's 7.7% unemployment and weak economy will continue.
"In a series of dire predictions echoed by experts throughout the state, the UCLA Anderson Forecast says that unemployment will continue to increase, consumer spending will decline and tax revenues will plummet." <a href="http://www.latimes.com/news/local/la-fi-calecon24-2008sep24,0,191956.story">Anderson Forecast</a>
What happens when next year, we are facing a steeper revenue shortfall?
Tax increases? Drastic cuts? Both? State shutdown due to impass? I don't foresee Republican's picking up many seats in the Assembly, will they lose enough to lose the roadblock on the supermajority?
Anybody willing to predict the impacts on housing and affordability?
