Timing on the Release of CA Surplus Cash Status is Suspect

Despite the fact that the CA legislative analyst is non-partisan, she waited to release positive financial data until after the end of Gov. Schwarzenegger’s big attempt to bamboozle the CA voters with doom and gloom predictions about the State economy.

Nonpartisan Legislative Analyst Elizabeth G. Hill reported Wednesday that, largely because of robust economic growth, tax receipts were far exceeding forecasts. At the current rate, the state is heading toward ending the fiscal year in June with a budget reserve of $5.2 billion — four times what was anticipated when the governor signed the budget over the summer.