Friday, April 12, 2013

Sunny economic outlook in California this month

The Sacramento Bee, Capitol Alert/Jim Sanders, 4/12/13.  "California state revenue up $254 million in March, officials say."
Gosh, some good news. I get a paycheck

"Spring is getting off to a good start in California's state budget, too, with general fund revenue for March exceeding Gov. Jerry Brown's budget forecast by $254 million, state finance officials announced Friday.

Year-to-date revenues are slightly $5 billion above the forecast of $59.645 billion, records show.

Employment and housing are helping to lead the way."  "Read more.

Related - Los Angeles Times/Business, 3/29/13. "State unemployment rate drops to 9.6%, employers add 41,200 jobs."  "California's economic growth revved up in February as employers added 41,200 jobs, one of the highest monthly gains since the Great Recession ended nearly four years ago. The payroll gains helped push the unemployment rate down to 9.6% from 9.8% in January, according to data released Friday by the state Employment Development Department. The growth in net new jobs, buoyed by increased consumer spending, was another positive sign for a state that has steadily gained jobs over the last year, hitting a monthly high of 74,000 in January 2012. Last month, only Texas outpaced California in job creation." 

Note:  Graphic  from  BCCNS "spread the sunshine" organization.

Posted by Kathy Meeh

Read more here: more.Read more.Read more. video.


Anonymous said...

Is this propaganda news? Prop 30 funds going straight to pensions as many predicted it would and California does not have enough money to pay its bills. We currently need 169 Billion and that is why Governor Brown is selling out children to China.

Kathy Meeh said...

Half duh, Anon 8:56 AM. Translation to that comment:

"About half of the money from Prop 30 is going to schools, according to an analysis by UT San Diego. The Governor's initial budget unveiled last week also includes at least $1.3 billion in wage and benefit hikes for state employees." San Diego 6 CW news.

And, "Even without a shortfall, California still has significant debt from accounting gimmicks used over the past decade. Brown estimated that what he calls the "wall of debt" would shrink from its current $27.8 billion to $4.3 billion over the next four years under his plan." San Francisco Chronicle, 1/10/13, "Jerry Brown: California's deficit is gone."

Or, "The state still has more than $34 billion in outstanding debts, which should drop to just over $4 billion by 2017." Business Journal, 1/14/13, "CA state budget deficit disappears, but debt remains." Either way, that is not 169 Billion. Try harder.

Anonymous said...

856, "Selling our children to China????" Ha, ha, ha...good one.

Why are you making such irrational comments?

Anonymous said...

Think that maybe Anon@ 8:56am meant to say that we are possibly selling out our children's future to China by looking to China for loans, thereby increasing California's debt load. Maybe not such an irrational comment after all. America is fast becoming the world's largest borrower. At one time it was the Philippines at or near the top, but now it's the good old USA.