Summary
It took nine months for the Capitol's politicians to gestate a California state budget, and it's a progeny that even a mother wouldn't love.
Like others of recent vintage, it's "balanced" with pie-in-the- sky revenue assumptions, back-door borrowing and Enron-like accounting gimmicks.See the full content of this document
Extract
Dan Walters: A High-Risk Scenario On a State Tax Hike
Like its siblings, this budget is probably good for only a few months, just long enough for the state to float some short-term bank ...
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