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California Budget Comes Up Short Again
Are adults actually making California’s budget?
By Robert MorleyIt takes about three months before the average person gets the hang of making a budget that balances, says famous personal finance adviser Dave Ramsey. What is California’s problem then?
After so many years of failed budgets, you would think that lawmakers would have figured it out by now. But no, it seems like lawmakers perennially have their heads in the clouds, hoping the economy will magically repair itself and solve their budget problems.
State controller John Chiang says the state will need to come up with an additional $3.3 billion by early March if it wants to avoid sending out ious, or delaying tax refunds again. The rest of the deficit can be covered using creative accounting and other emergency measures, he indicated.
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