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California Needs $4B to Balance Budget

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  • Description

    Author Mike Reagan sounds off on the Golden State’s new budget.

  • Duration 3:40
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This transcript is automatically generated

There's also this element of fantasy with the latest California budget and I talk about about this morning so let's bring in -- voice of reason Al voice of sanity.

His name is Michael Reagan and he joins us from a California -- we've been talking about this this morning governor brown.

Got himself a new budget.

It assumes that -- billion dollars is just gonna miraculously appear out of nowhere.

To balance the California budget a -- calling it Fantasy Island for governor brown on the -- California financial system and you say walks.

Hi actually -- I think what you're gonna write a check up and -- gonna get the four billion dollars for up I did it.

This game is being played up of Sacramento the fact that they're looking for four billion dollars over four million dollar shows up from somewhere.

But still they've done nothing about about pension reform nothing about the real problems that face.

California and the taxpayers with people live in this state until they do that nothing is going to change what we need.

Is governors like what they have an Indiana what they have Wisconsin what they have a New Jersey what they have certainly.

In Texas look at what those -- doing they understand what they need to do to bring businesses in.

And get the pension reform reform but enough to needs to be done the state.

Okay you -- you I think pension reform that but isn't California company two point eight billion dollars out of its education budget.

And that's a big -- are on the cutting -- -- catalysts and coming.

I think budget if indeed the four billion dollars doesn't show up that's the trigger that's going to in fact make all the cuts come into place.

Now remember if this all works out then they're gonna talk about raising taxes the next time they in fact do a budget in this state.

But yet they've done nothing -- -- the unions the unions have done nothing that help out the people -- California effective date.

In Sacramento you have Cesar Chavez -- three children in Sacramento.

Fighting for even more unionization.

Of the farm labor people up there in the central valley.

Of this state that what -- -- have more unions in this state not -- union -- state we've got real trouble here and it's gotta change.

Mike there's a false sense of -- security right now though because they increase their tax revenue over the last few months because the economy turns around some people I guess back to -- -- again.

-- very hard to pass any kind of austerity measures in that state going forward went.

Revenues up.

That -- revenues -- up and that's why they think the four billion dollars -- -- but remember they're also looking at Amazon.

I wanna start having Amazon start taxing 200 million dollars from their -- -- -- -- that we're not gonna go there.

Lawsuits are gonna come out of this absolutely because people -- going to be asked to do things they've never done before.

So what is it is that going to be a budget that's going to probably be approved by the court.

In this state it is.

Interest in what we need to -- was fired the legislature fire the governor just go to the -- and asked them what indeed we need to do in fact to fix the state.

Of California it tell you bring businesses back listen worst state.

-- what we're third highest income tax first and sales tax you have this does is lead in this state not coming into this state Intel would become business friendly again.

-- -- Shelling out everything to the environmentalist we're not gonna fix the problems in this state what the Reagan was the last -- state actually give money.

Back to the people's data California when there was a surplus.

At the state level we need surpluses that's what's going on.

That's what I -- that that's what it was genuinely the Golden State and -- a wonderful yes it wants.

You're the voice of reason I don't -- what they say you so all the voice of reason thanks for joining us Mike Reagan got thank you.

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