Quote:
Originally Posted by jmecklenborg
There was no money for HSR when the state was posting its gigantic surpluses - surpluses so gigantic (almost $100 billion last year) that Newsom sent everyone a gas card. Now there's going to be no money with the state facing a shortfall:
https://www.wsj.com/articles/califor...pos_3#cxrecs_s
The WSJ takes a victory lap - which is to be expected:
As usual, Democrats spent like this would never end. Not really - most of the surplus went to shoring up the state pension fund. Not a single dollar of the epic surpluses went to California High Speed Rail. |
To be fair, the surplus did allow for a deal to be made that released the second half the 2008 bond money.
Half of the surplus actually went to education, since that is required by law. $38B went to reserves, including $23B for the rainy-day fund.