Jerry Brown: California's deficit is gone
It's a projection,damn it. Who's going to argue with a projection? Not when you are mellowing out.
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.
Read more: http://www.sfgate.com/politics/article/Jerry-Brown-California-s-deficit-is-gone-4183371.php#ixzz2HmA5Y7AZ
Posted by: tipper 2013-01-12