Steinberg Says Low Revenues Will Force More Budget Cuts

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On Wednesday, Senate President Pro Tempore Darrell Steinberg (D-Sacramento) said the Legislature must make additional spending cuts this year to address disappointing revenues, which already are $3 billion below the projections included in Gov. Jerry Brown's (D) fiscal year 2012-2013 budget plan. Steinberg said Democrats will seek reductions that "attempt to minimize" the effect on "people who are most in need."

Clark Norwood
To Darrell Steinberg and all of the California legislature, welcome to the tax payers world! Welcome to the world of "TRICKLE-UP AUSTERITY". First you keep raising taxes and passing new restrictions on businesses that reduce usable income. Unemployment rises, business moves out of state and tax revenue drops. What does the legislature do, more of the same! Why don't they notice that when they continue the cycle the tax revenues continue to fall too! Maybe the legislature needs to take a trip to TEXAS to see why businesses are moving there and why Texas is not in the same dire fiscal situation as California. It's not a glamorous junket but it might be enlightening.

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