Schwarzenegger's First Budget

Discussion in 'Politics & Religion' started by waggie945, Jan 10, 2004.

  1. Total Spending: $76.1 billion in general fund spending and $99.1 billion in total spending, including bonds and special funds.

    Biggest cuts occur in Public Schools ($2.0 billion less than what funding formulas dictate), Medi-Cal ( $1.1 billion less) Welfare ($780 milion), Prisons ($400 million less), Cities & Counties ($1.3 billion less), Streets & Highways ($1.3 billion less).


    REVENUES

    Personal Income Tax: $38 Billion / 49.8%
    Sales Tax: $25 Billion / 32.7%

    Corporate Taxes: $7.6 Billion /10.0%
    Insurance Tax: $2.1 Billion /2.7%

    Liquor Tax: $294 million / 0.4%
    Estate Tax: $136 million / 0.2%
    Tobacco Tax: $115 million / 0.2%

    Other: $3.1 Billlion / 4.0%

    -------------------------------------------------------------


    EXPENDITURES

    K-12 Education $30.3 billion / 39.9%
    Health/Human Serv $24.6 billion / 32.3%
    Highest Education $8.7 billion / 11.4%

    Youth & Adult
    Corrrectional Agency $5.7 billion / 7.5%

    Tax Relief $4.7 billion / 6.2%
    Courts $1.6 billion / 2.1%
    Resources $1.0 billion / 1.2%


    http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2004/01/10/MNGO447MBF1.DTL
     
  2. Now how could this post go on with just a mere 32 Views and not one SINGLE response by you?

    I'm disappointed.

    :eek:
     
  3. When can California break even on revenues - spending?
     
  4. When will Arnold star in another blockbuster movie?

     
  5. Maverick74

    Maverick74

    I didn't know you wanted me to respond to that. I must say that so far I have been very pleased with Arnold's efforts. I think the cuts could have been deeper but so far so good. It looks like finally someone is going to force that state to watch their spending. I still think that education budget looks high. But maybe not, I don't know. If I were Arnold, I would go through another round of cuts next year, kind of like a tough love measure then slowly increase spending in only much needed areas.
     
  6. Well, he said he will increase funding for education... :confused: