California will run out of cash by early March if the state does not take swift action to find $3.3 billion through payment delays and borrowing, according to a letter state Controller John Chiang sent to state lawmakers today.
The announcement is surprising since lawmakers previously believed the state had enough cash to last through the fiscal year that ends in June.
But Chiang said additional cash management solutions are needed because state tax revenues are $2.6 billion less than what Gov. Jerry Brown and state lawmakers assumed in their optimistic budget last year. Meanwhile, Chiang said, the state is spending $2.6 billion more than state leaders planned on.
So wait a minute… They knew the budget wasn’t going to be great, and they’re still overspending?
And then the remedies for this are delaying payments and borrowing more?
How about they stop spending more than they take in?
You have to love when these idiots that run gubmints figure out they’re running out of money. Their first reaction is never to stop increasing that spending, it’s to find more money however they can. California, unsurprisingly, is no different. Faced with not overspending, they’re looking for ways to keep the spending spigot open.
Kind of the way a drug addict won’t stop using drug when they’re broke; they’ll do whatever they can to find money so they can keep using.
Spending is a drug, and every level of government in this country is addicted to it.








