No, it simply means that 20 billion dollars more has been requested than the projected revenue will cover. It does not mean that 20 billion more has been spent, as it has not, because the California constitution forbids deficit spending. The problem arises because no funds can be disbursed for the fiscal year until the budget passes.
On Thu, Jul 14, 2011 at 7:18 PM, Jerry Barnes <critic...@gmail.com> wrote: > "It's all a bad joke, guys. California has a balanced budget amendment and > we're $20+ billion in the hole. " > > That's a pretty impressive feat to accomplish ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:340453 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
