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Politics : Politics for Pros- moderated
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To: carranza2 who wrote (3603)7/22/2003 12:12:22 PM
From: NickSE  Read Replies (2) of 793552
 
I can't believe the public voted in such outrageous spending increases. Off to google to learn me some California budget. Btw, here are some figures to chew on...

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Annual spending increases, which averaged a once-exorbitant 8 percent during the last four years of his Republican predecessor, exploded during his first two years. In 1999-2000, spending soared by more than 15 percent. During his second year, spending jumped by another 17 percent. Thus, during Davis's first two years, the general budget increased from $57.8 billion to $78 billion. The increases occurred during a period when inflation rose by less than 6 percent.

Not surprisingly, Mr. Davis received an 'F' from the Cato Institute's ''Fiscal Policy Report Card on America's Governors: 2002.'' The analysis revealed that California's state payroll increased by 33,000 during Davis's first three years. The increase in public employees was larger than that of the next three biggest states combined. Meanwhile, Moody's has downgraded the Golden State's bond rating twice. Mr. Davis did not help matters much by borrowing $6 billion in the midst of the state's energy crisis to pay for future energy deliveries at prices that are two to three times the current market price.

chronwatch.com
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