Sep 15, 2008

Robbing Paul to pay Paul

It may surprise you to learn that the secret budget deal worked out by California lawmakers will put off tough decisions and leave "gaping holes in future budgets." From the Sacramento Bee:
But much of the $15.2 billion budget shortfall would be bridged by advancing revenues to be collected in future years, shifting or borrowing money from other state funds and employing accounting maneuvers. The plan would generate immediate revenue but leave gaping holes in future budgets.

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