Possible Deal

If you check the #cabudget hashtag on Twitter, you’ll see that the Big Five are very close to announcing a deal on the budget.  Initially the Democrats offered $11 billion in cuts and the Governor $16 billion; the final tally looks to be in the middle:

KQED_CapNotes RT @ejschultz3 Assemblymn Tom Berryhill (R): Dems, “$14 bil in agreed cuts.” And the other $12 bil?”There will be some borrowing.” #cabudget

That probably signals borrowing from state and local governments under Prop. 1A, along with some other gimmickry.  Suspension of Prop. 98 education funding is said to be likely, but with $1 billion in cuts as opposed to $3 billion.

I’ll be discussing this and much more on the Angie Coiro program on Green 960-AM in San Francisco starting at 7:00pm tonight.

One thought on “Possible Deal”

  1. in cuts.  it looks like they can reserve about 5 billion in future taxes (if they get them), and steal/borrow another 5 billion from local govs.  with the 15, it gest you to 25 billion.  

    The problem they have is that the model is broke(n).  Money has just stopped coming in.  The sales tax is almost obsolete with the internet.  the personal income tax is done with the lack of income in the bush/obama depression.  

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