You're watching...
California State Treasurer Bill Lockyer argues that the Golden State’s economy is on the uptick.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
-- says he has California's fiscal house in all of -- The Golden State's budget is in balance and it did by the way get a credit rating upgrade.
Joining us now on the phone California State treasurer bill -- So I'm published on the wanna get right out -- the opposing point of view is you still face a massive pension debts.
You've got launch short term -- that you've had debts to you gotta repay.
And high taxes of pushing a lot of successful people out of the state can you convince us how skeptical audience that everything in California is fine.
Well I know it would claim -- and we would they better though there used to be.
Operating structural deficit that -- -- the vehicle they're being reduced do not being -- are moving into the black.
Short -- internal borrowing is being -- Those depicted the economy's picking up is at the very -- the the vote their their reasons.
Principally for these upgrades that occurred by -- -- Do you will you guess all the tax revenue that you planned on getting from these -- have marginal tax rates.
We got a lot of reports of of wealthy people just moving out of the state they can take it anymore I'm not gonna quote Phil Mickelson but the -- the people talking the way Phil Mickelson is talking.
Well there's an actual more than anecdotal evidence.
But -- occasionally someone leaves and other people about so.
People don't put -- press release is that the Billy what -- Come to California but that's happening is so there's -- Mitt revolt.
Remember that the top 1% in the -- California.
During the last decade.
Doubled their share of the income they went for and about 40% of all of the implement the that they -- back they have been doing well they do well California is there's a lot of -- about it here.
Okay.
That I'm afraid we're out of time -- the law Cuba we do appreciate you coming on board we appreciate you being with us thank -- When he got back.
