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White House Budget CUTS : Swingers Discussion 2183621081
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TOPIC: White House Budget CUTS
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It also turns out Texas' cycle is one year off of Cali's. It's not 2013-2014, but it's 2012-2013. We're less than 6 months from the end of that 2 year cycle and all indications at this point more than 3/4 through is a big surplus. Even the Democrats in the state legislature know it and estimate the surplus as $8 billion.

So projections 10 weeks into a 104-week cycle with no feedback on how it's working out so far are equally comparable to one that's 82 weeks in with one full tax year in the can that showed a surplus? Ooook.

Chesapeake VA
 
 
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Actually Poli fact lists the claim of a Texas surplus as " mostly false" Like I said I'll check out the details when I land

Rosemont IL
 
 
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On my phone. I missed your links. I'll look when I get to my pc

Rosemont IL
 
 
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"Texas has a "projected" deficit "

So you're just ignoring the citations I gave you?

Chesapeake VA
 
 
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All surpluses and deficits are projected. They are all also calculated by the same means Bottom line. Cali has a "projected" surplus Texas has a "projected" deficit Apples and apples

Rosemont IL
 
 
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It's really dicey to base the prospects of a surplus on anticipated increased revenues from tax increases and then calling the result a surplus before anything's even happened yet.

The Feds have a - what is it now, $1 trillion deficit? OK easy solution - a $3,225 tax on every American, regardless of age. I'll pass the law now and instantly project a balanced budget. It'll work, right?

Chesapeake VA
 
 
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You cited a source that *projects* a surplus. The projection includes the (always wrong) assumption that tax revenues will be in line with what is projected, which is based on a static model, which is highly flawed.

I'm not saying they won't have one. I'm saying at this point, it's a 2-year budget (similar to Texas) running from 2013-2014 with a projected surplus. The projection you posted was made weeks into 2013. To project a surplus based on this 94 weeks out is a little imperfect.

Texas' surplus is also projected out to 2014, although the projections believe that Texas is already in a surplus situation.

news.yahoo.co m/surplus-wont-lessen-2013-texas-144955549.html

w ww.bloomberg.co m/news/2013-01-07/texas-starts-budget-debate-flush-with-energy-boom-cash.html

w ww.nytimes.co m/2013/01/09/us/texas-budget-surplus-proves-as-contentious-as-a-previous-shortfall.html?_r=1&

Chesapeake VA
 
 
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Vabeach. I already cited a source that Cali has a surplus. Let's see one that shows Tecas does as we'll. Happy googling

Rosemont IL
 
 
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Well, the Texas budget story is more than 2 years old.

For this year, their legislative Democrats are fighting about what to do with the surplus.

Chesapeake VA
 
 
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Damn what a surplus

California Deficit Swells to $16 Billion, Governor Says By Michael B. Marois - May 12, 2012 3:49 PM ET

California’s budget deficit has swelled to $16 billion after tax collections trailed projections amid the tepid economic recovery, Governor Jerry Brown said in a comment on his Twitter post. The shortfall has widened from the $9.2 billion Brown estimated in January, after lawmakers resisted the Democrat’s call for cost cuts, the federal government blocked other reductions and April income-tax revenue missed budget forecasts by $2 billion. On May 14, he’s set to unveil a revised spending plan and to say how he would erase the gap. Enlarge image California Governor Jerry Brown introduces his 2012-13 budget proposal at the State Capitol in Sacramento on Jan. 5, 2012. Photographer: Ken James/Bloomberg Brown, 74, set out an initial budget in January with $92.6 billion in spending for fiscal 2013, which begins in July. That plan stripped more than $4 billion from health and welfare programs while relying on higher income and sales taxes. The levy increases will go before voters in November. If rejected, schools will lose $4.8 billion midway through the year. “We are still recovering from the worst recession since the 1930s,” Brown said in a YouTube video cited on his Twitter post. “Tax receipts are coming lower than expected and the federal government and the courts have blocked us from making billions of necessary budget reductions. The result is that we are now facing a $16 billion deficit.” Brown this week submitted more than 1.5 million signatures to place the tax measure on the ballot. It would temporarily raise the state sales tax, already the highest in the U.S., to 7.5 percent from 7.25 percent. It would also boost rates on income starting at $250,000. The 10.3 percent levy on those making $1 million or more would rise to 13.3 percent, the most of any state.

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TOPIC: White House Budget CUTS