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FBN’s Gerri Willis separates the fact from the fiction in Gov. Brown’s plan to resolve the state’s budget woes.
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-- remember governor movie -- California's Jerry Brown take a look at them let's Linda Ronstadt his girlfriend and the band the Eagles there good times right.
Well he's back 36 years later.
If there's a bit that are bodies no less optimistic he says he's got a plan to solve California's financial troubles and they are big.
-- state is now facing a 70% increase to their budget deficit to sixteen billion for just nine billion here's what the governor says.
By linking.
These serious budget reductions.
Real increased austerity.
-- any plea to the voters please increase taxes.
-- area Brown's first promise real austerity.
But -- what the reality is just the opposite.
He does offer some cuts to social services and higher education but his budget next year -- up not down.
It's -- I think 6% from just this year hitting 91.
Billion dollars.
In fact -- twelve educational loan gets a 13%.
Funding boost because we all know that throwing money at a problem with a real solution right.
And this is the second promise for brown temporary.
Temporary tax hikes but if you think -- tax hikes will be renewed again and again and again well.
You're kidding yourself.
And then there's this reality a truly scary one.
Governor -- calling for a thirteen point 3% income tax on individuals and small businesses.
The highest in the nation.
He's ignoring the wealth of evidence that states with lower taxes grow faster.
This tax will just push the most successful people out of the state which is already struggling with an unemployment rate near 11%.
And so California is really blind to the real reality which is that in terms of its bond rating.
It's in the lowest of all states fiftieth ranking fiftieth S&P is threatening to downgraded even more.
When you talk to CEOs about -- friendly California isn't the business climate not so much it ranks fiftieth they -- too.
Look today voters in the state will decide on a big tax increase on cigarettes 700 million dollars a year.
But they're not using that to pay down the debt.
-- going to cancer research.
That's not the only big vote in California today as we discussed at the top of the show.
Two major cities San Diego and San Jose had to the polls with opera with the opportunity that is to say enough is enough on -- spending.
All too often we citizens don't get a say on how our tax Payer dollars are spent.
And if you live in California if you're fed up with the empty promises on financial responsibility.
If you're worried about -- your kids and grandkids will pay for today's spending.
This is your chance make yourself heard.
