From the San Fran Chronicle:
Gov. Jerry Brown took office two years
ago promising that he had the know-how and the fiscal prudence to guide the
state out of its financial crisis, and on Thursday he delivered a budget without
a deficit.
It's the first time since 2007 that leaders at the Capitol haven't had a
deficit to contend with and the first time since the late 1990s that the outlook
over future years shows surpluses instead of deficits."This is new. This is a breakthrough," Brown told reporters at a news conference where he presented his spending plan for the 2013-14 year that begins July 1.
The governor promised discipline
in spending - K-12 public schools and higher education received significant
increases in funding - and in paying off the state's accrued debt.
He's likely to face opposition
from Statehouse liberals who would rather see funding restored to programs that
have been slashed in recent years, but Thursday his plan was widely praised by
Democrats
and Republicans.
Some in the GOP did, however, question whether the governor was being too
optimistic with his deficit projections.Paying 'wall of debt'
Even without a shortfall, California still has significant debt from accounting gimmicks used over the past decade. Brown estimated that what he calls the "wall of debt" would shrink from its current $27.8 billion to $4.3 billion over the next four years under his plan.
Read more: http://www.sfgate.com/politics/article/Jerry-Brown-California-s-deficit-is-gone-4183371.php#ixzz2HeCyMA00
As you can see, the San Fran Chronicle is believing in Brown, hook, line and sinker. Suckers.
And they don't even mention the problems with their pension plan, which has $billions in unfunded mandates. Further, several communities and counties are threatening bankruptcy because of the State and pension problems.
Moonbeam Brown must have been smoking crack when he said there is no deficit problem in California.
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