Which Way, L.A.?
Another Budget Shortfall Impacts Politics and Schools
In May, California voters will be asked to ratify the $42 billion tax increase and spending-cut program worked out by Governor Schwarzenegger and squabbling legislators of both parties. But last week, the Legislative Analyst dropped something awful into the punch bowl.
By Warren Olney • • 1 min readIn May, California voters will be asked to ratify the $42 billion tax increase and spending-cut program worked out by Governor Schwarzenegger and squabbling legislators of both parties. But last week, the Legislative Analyst dropped something awful into the punch bowl. For the first time since at least 1950, personal income is down, meaning a decline in state revenues of $8 billion. We hear about the implications for politics and schools.
