Search This Blog

Saturday, July 6, 2013

Calif. lawmakers approve 4.5% state worker raises

   
 
    
     Another reason why Government’s will never get out of debt, Spending money they don't have. Showing the CA. people, that our state will never balance the budget. It's not our state concern or they just think they have an unlimited supply of money.    
     State lawmakers this week ratified a three-year agreement negotiated by Gov. Jerry Brown's administration giving 4.5 percent pay raises to the 95,000 members of Service Employees International Union Local 1000 by July 1, 2015.    
   The total budget problem that the state will need to address between now and the passage of the 2012–13 budget is estimated to be $12.8 billion, as shown Figure 1.

2010–11

2011–12

2012–13

Prior–year fund balances

–$4,507

–$1,695

–$2,239

 

 

 

 

Revenues and transfers

94,292

84,764

86,038

Expendituresa

91,480

85,308

95,787

Ending fund balance

–$1,695

–$2,239

–$11,988

Encumbrances

770

770

770

Reserveb

–$2,465

–$3,009

–$12,758

a Under the LAO November 2011 revenue forecast, a total of $2.04 billion of expenditure trigger reductions would be implemented, as revenues are $3.7 billion below the amount assumed in the 2011–12 Budget Act. This represents all of the first tier of trigger cuts and around three–quarters of the second–tier trigger cuts.

b Special Fund for Economic Uncertainties. Assumes no transfer to the state's Budget Stabilization Account.

 

 
     Over the last several years, the state has relied heavily on deferring school payments as a means of lowering Proposition 98 spending. Additional deferrals in 2012–13, (with 20 percent of Proposition 98 payments already made late).
     WTF. Estimated 2012–13 California Budget problems are $13 Billion. I don’t understand how our state Baboons can bitch about being in debt, and cutting public services. Then have the nerve to talk about raises or any raise for that matter. Proposition 98 Contribute to Estimated $13 Billion Budget Problem. Proposition 98 costs are projected to rise by $5.6 billion due to growth in the minimum guarantee.  In addition, the state will owe an additional $400 million in "settle–up" payments to schools. At the same time, in 2012–13 the state must repay the $2 billion Proposition 1A loan (which was used to help balance the budget in 2009). Also the state repays $1 billion of loans to special funds. With the General Fund pressured by all of these factors, the state will be left with a 2012–13 operating shortfall of $13 Billion. Now how the hell do you still add to the debt? With 4.5 % pay raises to 95,000 people with no money to pay for it.  The state Finance dept. and the governor must be the dumbest people in government. If I go to my bank and have no money in my account, they won't give me a cent. So how can our government still go to an empty account - owing $13 Billion and still receive money. I want to know what bank this is, because I definitely want to join this bank that has unlimited supply of money. 
Sources:
Associated Press    SACRAMENTO, Calif.| Associated Press 
 
 
 

No comments: