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To: Dayuhan who wrote (17367)7/13/2002 12:52:02 PM
From: Constant Reader  Respond to of 21057
 
Balancing a budget using capital gains receipts earned during an unsustainable economic bubble is easy. Ask Gray Davis. Governing once the bubble bursts and there are no capital gains is much more difficult. California is trying to paper over a 24 billion dollar deficit, 32% of the state budget, caused in large part by the disappearance of capital gains and pie-in-the-sky predictions that the chickens would never come home to roost so it was ok to spend it all.


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