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11-16-2011, 06:24 PM #1
Analyst puts California's deficit at nearly $13 billion
November 16, 2011
Analyst puts California's deficit at nearly $13 billion
California would impose $2 billion in mid-year "trigger" cuts next month, mostly through K-12 school reductions, under a new revenue forecast issued this morning by the nonpartisan Legislative Analyst's Office. The LAO also said the deficit for the year beginning July 1, 2012 would be nearly $13 billion.
The analyst's report is not the sole determinant of whether the state will impose those cuts, but it is one of two tools the Department of Finance must rely upon before deciding whether to slash spending. The finance department will issue its own forecast in December.
The Analyst said the state will not receive $3.7 billion of the $4 billion revenue bump that Gov. Jerry Brown and lawmakers optimistically relied upon to help close the budget in June. The enacted budget projected the state would receive $88.5 billion in revenues and transfers; the analyst says it will only get $84.8 billion.
The Department of Finance said this week that California was running $1.3 billion behind revenue projections for the first four months of the fiscal year, from July to October. State Controller John Chiang pegged the revenue shortfall at $1.5 billion.
If Finance issues a projection next month similar to the analyst's, the state must cut K-12 funding by $1.4 billion. It must also slash University of California and California State University systems by $100 million each. The state's developmental services program would lose $110 million, while In-Home Supportive Services would see a $100 million reduction.
The Legislature and governor could still intervene before those cuts take place in January and February. The K-12 cut would be the most controversial, given the priority voters place on public education, the influence of K-12 advocates and the fact that 143 of the state's 1,032 school districts are in financial jeopardy.
Brown and lawmakers said in June that K-12 districts should absorb a mid-year cut by shortening the school year in the spring. Based on their initial math, a $1.1 billion trigger reduction in classroom funding would amount to roughly five days of school.
As part of the budget deal, the California Teachers Association won job protections that ensure districts do not lay off teachers, as well as an assurance that any school-year reduction be negotiated with local unions. That prompted school boards and administrators to lobby the governor for more flexibility in how they absorb mid-year cuts.
"There was a strong assertion when this budget was wrapped together that we would probably never see the triggers pulled and, as a consequence, districts were not really given the kind of tools they needed to prepare for this kind of reduction," said Kevin Gordon, a lobbyist for school districts. "I fully expect the governor and legislative leaders to reshuffle the deck on this trigger mechanism so it doesn't hit schools so hard."
The analyst says that impacts would vary across districts. While some have enough reserves to survive the cut, others may rely on cuts to non-classroom staff or even seek an emergency state loan.
http://blogs.sacbee.com/capitolalertlat ... z1duSzWxd5NO AMNESTY
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11-16-2011, 06:33 PM #2
Cal State trustees vote to raise tuition by 9% for 2012
November 16, 2011 | 12:41pm
At a meeting in Long Beach marked by violent disruptions, the California State University Board of Trustees on Wednesday voted narrowly to increase annual tuition by 9%, or $500, for next fall. With the increase, annual tuition for undergraduates will rise to just under $6,000.
The 9 to 6 vote was taken behind closed doors and out of public view after police removed chanting, whistle-blowing protesters from the meeting room. Several protesters were taken into custody after a group tried to storm the meeting room, shattering a glass door.
The vote comes as students, faculty and labor groups have intensified pressure on University of California and Cal State leaders to oppose further fee hikes and education cuts.
Students and members of the group ReFund California tried to storm the front door and police released tear gas to push them back. Several protesters were handcuffed and arrested.
http://latimesblogs.latimes.com/lanow/2 ... ition.htmlNO AMNESTY
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11-16-2011, 07:59 PM #3
related
M3: MALDEF wants 2nd all-Latino district in California
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Calif. Hospitals Spend $1.25 Bil On Illegal Immigrants
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Older White Folks Flee Their California Homes
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12 Counties secede from California?
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California tells online retailers to start collecting tax
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California Runs Out Of Money Again, Threatens To Go Nuclear
http://www.alipac.us/ftopic-243521-0-da ... rasc-.htmlJoin our FIGHT AGAINST illegal immigration & to secure US borders by joining our E-mail Alerts at http://eepurl.com/cktGTn
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11-16-2011, 08:06 PM #4
RELATED
Nov 16, 2011 1:02pm
U.S. Debt Tops $15 Trillion Mark Today
http://abcnews.go.com/blogs/business/20 ... ark-today/NO AMNESTY
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11-16-2011, 08:16 PM #5
RELATED
46 U.S. cities have filed for bankruptcy
Since 1980, only about 46 have filed for federal bankruptcy protection. (Out of more than 18,000 cites, towns, villages, etc.)
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Jefferson County AL. bankruptcy would top $4.1 billion
http://www.alipac.us/ftopict-245510.html
Central Falls RI files for bankruptcy
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Nine American Cities Going Broke
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Middle-Class Areas Shrink as Income Gap Grows, New Report Findshttp://www.alipac.us/ftopict-255385.html
Most Members of Congress Enjoy Robust Financial Status, Despite Nation's Sluggish Economic Recovery
http://www.alipac.us/ftopict-255375.html
Now what? Few tangible effects of Wall St protests
But some political observers say the demonstrators have changed the conversation in the U.S., and that is a big first step.
"They've shifted the center of gravity of the debate so that the whole question of wealth and privilege is now being discussed," said William Galston, a senior fellow at the Brookings Institution, the Washington political think tank. "In a democracy, what people are talking about matters."
http://www.alipac.us/ftopict-255387.html
57 in Congress (11%) among wealthy 1%
http://www.alipac.us/ftopict-255264.html
47 Percent of Congress Members Millionaires — a Status Shared by Only 1% of Americans
http://www.alipac.us/ftopict-255356.htmlNO AMNESTY
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11-16-2011, 08:45 PM #6
The shyster said he had a plan to balance the budget and stimulate the economy. Where's that?
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