California Budget Preview

CALIFORNIA BUDGET PREVIEW….The LA Times has a preview of Arnold’s new budget for tomorrow’s paper and it looks like my projections from Monday might not be too far off: $1.3 billion in cuts to local government, some increased fees for universities, and (apparently) about $4 billion in rosier estimates of economic growth. (Although this last isn’t clear yet.)

But there’s more! He’s also proposing an additional $1 billion in borrowing. Even I hadn’t thought of that.

Details won’t be available until noon tomorrow. Hopefully I’ll be able to get a clearer idea of exactly where the cuts ? and the accounting trickery ? are coming from then.

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