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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Haim R. Branisteanu who wrote (72057)	1/15/2010 5:58:44 AM
From: Haim R. Branisteanu	Read Replies (1) of 74559

Californian Budget Deficits (my remarks same as to NYS) Governor Schwarzenegger released his final Proposed Budget on January 8. The Proposed 2010-11 Budget addresses a $19.9 billion gap, consisting of a $6.6 billion shortfall in the remainder of 2009-10 and a $12.3 billion gap in 2010-11, using a combination of spending reductions, federal aid, and fund shifts. The Proposed Budget would end 2010-11 with a $1.0 billion reserve. The Governor proposes no new tax increases, but does include tax cuts that would reduce state revenues and widen the budget gap. The Proposed Budget would spend $82.9 billion from the state’s General Fund in 2010-11 and assumes $89.3 billion in 2010-11 General Fund revenues and transfers. cbp.org

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