4 ms·
It's not going to happen, if nothing else, because CA is going to be grasping for federal budget bailouts later this year. Lockdown is going to crush state bud
by bpodgursky 7y ago
It's not going to happen, if nothing else, because CA is going to be grasping for federal budget bailouts later this year. Lockdown is going to crush state budgets.
- yingw787 7y agoI hope so, man, for our country's sake. Every day we're together is a second chance at making things right.
- kevingadd 7y agoCA has a pretty big rainy-day fund. It'll be exhausted eventually, but I'm not sure it will be this year. The most recent sources I've found suggest the state has around $20bn in reserves, which probably is enough to buffer us through a bad year unless tax incomes completely drop to 0.
- bpodgursky 7y agoThe budget for the year was $208 billion, so you only need a 10% haircut to need help. And the budget is HEAVILY funded by (1) Silicon Valley IPOs, and (2) Hollywood. Both of those are going to generate $0 near-term. Not to mention retirement funds which are going to be obliterated, but that's a somewhat separate issue from the budget.