California Governor Claims $24 Billion Deficit is Really a Surplus

Governor Jerry Brown must have found one of those Platinum coins every progressive economist is talking about because he has performed another economic miracle. The kind of economic miracle that Madoff and many convicted fraudsters commit on a regular basis. Even CNBC seems impressed by Brown’s ability to levitate economics with sustained meditation.

According to the California Controllers’ Office, the state is running a 24.2 billion dollar budget deficit. Not to mention a 1.9 billion dollar gap. But according to Governor Moonbeam it’s really an 851 million dollar surplus. It’s a slight discrepancy when you consider that

The finance department estimates there is still a $28 billion “Wall of Debt” built up over years of internal borrowing, as well as more than $100 billion in unfunded liabilities in state-backed retirement health and pension systems.

Governor Moonbeam is taking credit making huge cuts to spending. How huge? Well this one is only 11 billion dollars more than the last one. By Atlantean math, that’s actually less.

Brown warned the state not to get exuberant over its improved finances. “It’s very hard to say no. That’s going to be my job,” he said.

So no one’s going to say “no”. Certainly not California’s multicultural coalition of money grows on trees.

Assembly Speaker John A. Pérez applauded Brown’s budget proposal, citing its slashing of the state’s structural deficit, reduction of state debt, increase in school funding and commitment to implementing federal health-care reform.

“This is a good starting point,” he said. “But it is that, it’s a starting point.”

The state’s judicial leaders were among the most frustrated by Brown’s proposal. While he kept funding flat for judicial operations, he proposed taking $200 million in court construction funds to help make ends meet and didn’t add back funding as some had hoped.

Chief Justice Tani Cantil-Sakauye said a flat operational budget isn’t enough because courts have suffered cuts too deep in recent years. She noted that courts in Los Angeles, Fresno and San Bernardino Counties are slated to close without additional funds.

“This budget doesn’t answer our challenges and our problems,” she said in a conference call with reporters.

Let’s try a 200 billion dollar budget next time. We can pay for it with a platinum coin.

  • JacksonPearson

    The amazing, and astonishing rabbit hat miracles by Jerry Moonbeam…{{{{sigh}}}.

    • Daniel Greenfield

      He's going to levitate the Pentagon any day now

      • JacksonPearson

        Meg Whitman would have straightened California out… :o)

  • Edward Cline

    "Even CNBC seems impressed by Brown’s ability to levitate economics with sustained meditation." Shouldn't that be "sustained medication"? Methinks Governor Moonbeam is still popping pills or smoking ganga sticks when no one else is looking.

  • Tom Swift

    What moron wrote this article? Is journalism dead? The “$28 billion wall of debt” is not part of the annual budget but is deferred payments for state programs. The proposed budgeting process has allocated repayments of $4 BILLION/year until this is taken care of. Again, this isn’t debt in the sense that it’s owed to a company but instead is where programs, cities, counties have been shorted money from the state over recent years. The plan is to make up the past shortfalls; this is what the “wall of debt” refers to. This article isn’t journalism, it’s a moron that somehow learned to type spouting gibberish to see if they can get a reaction. In 2009 the budget deficit was $41.6 billion. Last year it was $9.2 billion. The projection is now that it will be zero. Hmm, call me crazy but that sounds like progress is being made.

    • Daniel Greenfield

      Projection is 1.9 billion.

      • LibertarianToo

        Wow, Daniel, you seem to have struck a nerve. Looks like Gov. Mooncalf has a tribe of acolytes trolling the web for anything mean about their gov.

        I like how they START with the ad hominem attacks. Why waste time pretending to have a counter-argument?

  • Jesse Bright

    Good lord, what terrible writing. How did this article generate enough traffic to make it onto my Google News feed? I wonder if the Shillman credential the author claims is some sort of pun.

    • patron

      The fraudulent surplus considers only general spending, not all spending which reveals the true $90 billion deficit.
      http://www.dof.ca.gov/budgeting/budget_faqs/#6

      It's a weasel deal made up by trial lawyers based on a courtroom liability traps without concerns to real economic realities and if you or me attempted this we would be thrown in prison for fraud or embezzlement.

  • Ghostwriter

    Gov. Brown is an idiot.