Minggu, 13 Mei 2012

How Liberalism gets you in the red every time: California deficit has soared to $16 billion, Gov. Jerry Brown says

Fact 1: California has been controlled by Democrats for more than 20 years.
Fact 2: Democrats believe in Liberalism, high taxation, increased social spending, increased government union spending.
Fact 3: Californians have been fleeing the state because of oppressive taxes and moving their businesses to lower tax states.
Fact 4: California lawmakers aren�t collecting the tax revenue they thought they were gonna collect because the more you tax the less economic activity it generated
Fact 5: Results are a shrinking tax base(less tax payers combined with citizens and Illegals that don�t pay taxes) that can�t finance the Liberalized social spending and BOOM a deficit.    
This scenario applies to every Democrat controlled state like California, Illinois, Michigan, and New York.  Liberal government, like we have in Washington, never works and we have the examples to make that point crystal clear.      
Los Angeles Times reports Gov. Jerry Brown announced on Saturday that the state's deficit has ballooned to $16 billion, a huge increase over his $9.2-billion estimate in January.
The bigger deficit is a significant setback for California, which has struggled to turn the page on a devastating budget crisis. Brown, who announced the deficit on YouTube, is expected to outline his full budget proposal on Monday in Sacramento.
"This means we will have to go much further, and make cuts far greater, than I asked for at the beginning of the year," Brown said in the video.
Lawmakers and others were hoping that a rebounding economy would help the state avoid steep cuts to social services. But revenue in April, the most important month of the year for income taxes, fell far short of expectations, leading to a shortfall of at least $3 billion in the current fiscal year.
The state has also spent $2.1 billion more than expected, according to the controller, further worsening California's financial health.
More here

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