Dan Walters: New California budget looks a lot like old budgets

The Legislature’s Democratic leaders insist that their new state budget is balanced, honest and contains an adequate reserve.

“Our budget contains no additional borrowing or so-called gimmicks,” Senate President Pro Tem Darrell Steinberg said this week as details were unveiled.

Not.

It’s “balanced” only with some very shaky income and outgo assumptions, it’s “honest” only if one ignores dozens of bookkeeping tricks, fund shifts and other gimmicks, and its reserve is half of what Gov. Jerry Brown wants and a fraction of what it should be.

Read more here: http://www.sacbee.com/2012/06/15/4563707/dan-walters-new-california-budget.html#mi_rss=Dan%20Walters#storylink=cpy

via Dan Walters: New California budget looks a lot like old budgets.

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