Thursday, January 9, 2014
And While We Await the Governor
Note that the really big revenues will arrive around (income) tax time in April. If you looked at the reserve in the general fund at the moment, as seen by the controller, it is negative $18.3 billion, covered by internal and external borrowing. As many have noted, California is heavily dependent on the incomes of those at the top end of the income scale and, therefore, financial market developments.
You can find the controller's report at:
UPDATE: Yours truly did await the governor. But the calchannel feed failed to operate properly for roughly the first 15 minutes of the media conference, by which time much of what the governor had to say was over. Yet another online education lesson. Eventually, calchannel will post the archive of the conference.