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FBN’s Gerri Willis on California looking to cut spending in an effort to reduce the state’s debt.
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Three years hello everybody I'm Gerri Willis hold onto your hats the governor of California is proposing state government spending.
Cuts do not adjust your television set.
Yes that is Jerry Brown not Ronald Reagan suggesting eight billion in cuts to help cope with a mysterious doubling of the State's debt.
Not that that solves -- Golden State's problems but it is a step in the right direction for politicians whose main solution to a bloated no programs grown state government.
-- hiking taxes a bump on the state sales tax plus they hit for those earning 250000.
Dollars or more.
Sound familiar.
But here's what California found just raising tax rates.
Doesn't necessarily get you more revenues personal income tax collections in that state are down.
Two billion or 22%.
This year according to the state comptroller's office.
Which should serve as a warning sign for congress as they debate the expiration of the bush tax cuts.
And the new obamacare.
