Professor Elam

The Sacramento Bee reports on the state of the CA Budget.

A Republican view is posted here.  As both reports say, the Dem view is, raise taxes.

But the point is, we study budgeting in Cost Class.  This is a budget out of control.  Clearly Gov A S is worried, the state wide tax hikes failed. We have covered this situaiton on the blog for some months now, noting that in February the state began using IOUs for tax refunds. No doubt some will pressure Arnold to ask for Wash DC help, as one article suggests other states would also ask. How long before the states in good shape realize they are subsidizing the states that are not.  Texas discoverd the Robin Hood system is eventually very unpopular, particularly with the states sending money.

WE should know teh outcome pretty soon!