State Deficit is $17 billion for 3 months of this fiscal year

Russ Steele

State Controller John Chiang released his monthly report covering California’s cash balance, showing revenues came in $301.6 million below projections from the recently passed state budget.

The State ended last fiscal year with a cash deficit of $8.2 billion.

The combined current year cash deficit stands at $17.6 billion.

Those deficits are being covered with $12.2 billion of internal borrowing (temporary loans from special funds) and $5.4 billion of external borrowing.

The question for our state legislators is where would our debt be if the Democrats and Governor Brown had pass a real balanced budget. Some other questions they might ask is why are we funding 14 million for illegals to go to college, since it illegal for them to work and why are we funding a high-speed train to nowhere? Why is CARB still implementing job killing legislation? There were multiple ways to cut the deficit, but lack the leadership necessary to make it happen. When you are owned by the unions, the union bosses make the rules, and the tax payer pay the bills.

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About Russ Steele
Freelance writer and climate change blogger. Russ spent twenty years in the Air Force as a navigator specializing in electronics warfare and digital systems. After his service he was employed for sixteen years as concept developer for TRW, an aerospace and automotive company, and then was CEO of a non-profit Internet provider for 18 months. Russ's articles have appeared in Comstock's Business, Capitol Journal, Trailer Life, Monitoring Times, and Idaho Magazine.

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