California Deficit Reaches $16 Billion

Rev 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

“Against all odds, the frameworks of the world’s economic, political, and social systems are being shaken and are beginning to crumble.”  Jim Bakker in “Prosperity and the Coming Apocalypse”

California’s budget deficit has swollen to $16 billion after legislators ignored Governor Jerry Brown’s calls for cost cuts.

Governor Brown had estimated in January that the budget would be short by $9.2 billion dollars.  The federal government stepped in to block budget cutting measures and tax revenue was $2 billion under projections which led to the increase in the deficit.

Brown stated on his YouTube account that the economy is recovering from the worst recession since the era of the Great Depression.

Tax increases are scheduled to appear before voters in November.  If the levy increases do not pass public schools will lose $4.8 billion midway through their next school year.

Another tax measure would increase the nation’s highest state sales tax to 7.5%.

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