Green Eyeshade Blues...

California

... By contrast, the State Controller’s report called the “Statement of General Fund Cash Receipts and Disbursements” are the actual revenues and actual expenditures as they are officially recorded on our bank statement.

During the last 12 months (from January 1st to December 31st of 2007), the state’s general fund received $95.602 billion in actual revenue and spent $106.232 billion, for a total general fund deficit of $10.630 billion.

During the prior 12 months (from January 1st to December 31st of 2006), the state received $94.879 billion and spent $98.216 billion, for a total general fund deficit of $3.337 billion.

Put another way, actual revenues grew at an annual rate of 0.72 percent and expenditures grew 8.16 percent, tripling the actual annual deficit spending. In the last four years from January 2004 to December of 2007, the state general fund has spent a total of $18.328 billion more than it has received as revenue.

[but thanks to district gerrymandering, our 70% democratic Assembly will almost certainly be returned to Sacramento]

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