Tuesday, May 24, 2011

California budget expected to soar in next 4 years

The San Francisco Chronicle reports:
Over the next four years, California's general fund budget is projected to grow from $88.8 billion to $112.5 billion, but that additional money - which will raise the general fund to its highest level in history - will not restore recent cuts to parks, health care and social services.

Instead, more than half will be automatically spent on K-12 schools and community colleges because of voter-approved Proposition 98, while most of the remaining increase will cover rising costs of health care, prisons and the costs of debt and borrowing.