Monday, January 11, 2010

State of California 2010 State of the State, and the Budget

"Major Cuts, Increased Revenues", Governor Arnold Schwarzenegger

State of the State Address text and video, (1/6/10)
State budget proposal text and video 2010-11 video, (1/8/10)

Governor Arnold Schwarzenegger Interview with John Harwood, New York Times and CNBC

From this interview..."Budget passed, $30 billion in cuts..more may be needed...worst recession since the great depression, 1/3rd of world wealth gone". "Legislatures get stuck in their ideological corners, then things don't get done". "Never give up.. keep trying to get things done. Things take a long time." And, his political party? "Its important we're in the center...find solutions to problems," seems like sound wisdom for both major political parties, and political legislation as well.

From the 1/6/10 State of the State speech (above) ."...on a positive note...we do see signs that our economy is beginning to stabilize. California's unemployment rate has begun to slowly tick downward. And while personal income fell 2.8 percent in 2009, it's projected to grow by 2.4 percent in 2010 and 3.6 percent in 2011 and 4.8 percent in 2012. So, for our economy, recovery is on the horizon."

Posted by Kathy Meeh

1 comment:

Kathy Meeh said...

So, in the first sentence, the implications of "Increased Revenues" is somewhat guarded language for increased revenue built-into the 2010-11 proposed State budget through 1) service fees (you pay more for State services), 2) issuance of bonds (tax free minus), and 3) some economic improvements going forward. Also, our State thinks the Federal Government is good for about a $6.9 billion "stimulus" gift.