Governor Brown's budget for next year was balanced on assumptions that aren't coming true. Revenues for last month were so far below expectations that the state is already half way to triggering massive new cuts in spending. We hear from the Governor's office and from Controller John Chiang. Also, Controller Chiang issues a scathing audit accusing the LA Community College District of misspending $140 million. On our rebroadcast of today's To the Point, economics and high anxiety.
Was California's Budget Too Optimistic? Will More Cuts Ensue?
From this Episode:
CA's Troubling Budget, LACCD's 'Shoddy Fiscal Mismanagement'
Governor Brown and the legislature balanced next year's budget based on projections of how much revenue will be coming in. If those projections are off by a billion dollars,...
20 min, 2 sec
Making the Presidential Election a Popularity Contest
The Electoral College gives states the power to elect American Presidents. Because some states have more voters than others, some presidents have taken office without a...
6 min, 9 sec