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posted by ubertuber:
but it took years of progressive tax policies and high spending to get them to where they are now. There is virtually no chance that Arnold, Davis, or anyone could fix that quagmire in two years.
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it actually only took a little over a year to create the deficit california is in now. in 2000, california had a 12.3 billion SURPLUS (not deficit). in one year, tax revenue went up 23% and government spending matched that. then in 2001 when the high-tech bubble burst, tax revenue plunged 14%, but government spending went up another 12 - 15%. hence the deficit we're in now.
Quote:
posted by Zeld2.0
As for the situation - if he's trying to get anything out of it politically, i think he chose the wrong palce to do it. When you go in with a deficit that huge, he himself won't be making all that many things that will be fixing it
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and as for both your comments about the deficit not being fixed any time soon, it's already been projected that by the end of the next fiscal year, the deficit will be cut by more than half of what it is now, down to 16 billion. it would be below 10 billion, but Arnold is going to remove that insane triple car tax fee, thank god. by the end of Arnold's term, if things go the way he plans, the deficit will be pretty much gone, or close to it.
we will just have to wait and see.