Tuesday, June 28, 2011

California has a budget deal

Brown, Democrats reach budget deal without taxes or pension reform
The Democratic budget plan is based on an expectation of $4 billion in extra revenue in addition to $6.6 billion in unexpected revenue that was forecast last month. "That's nearly $11 billion in new revenue that the Democrats assume will magically appear," said Senate Budget Committee Vice Chairman Bob Huff (R-Diamond Bar). (Associated Press)
The money will not appear when GDP growth nation wide is 1.5%. They did eliminate the redevelopment boondogles, but that will trigger a series of lawsuits, mainly by Republicans who lose their welfare checks.

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