LAO's Budget Review

Saskal, Rich
January 2005
Bond Buyer;1/14/2005, Vol. 351 Issue 32050, p37
Trade Publication
The article reports that Legislative Analyst's Office (LAO) gave a mixed review to Governor Arnold Schwarzenegger's proposed fiscal 2006 budget, which was unveiled as of January 14, 2005. The plan contains honest estimations of California's shortfalls and reasonable estimates for solutions, and "significant" ongoing savings, according to the LAO report. Schwarzenegger's budget plan proposes spending 85.7 billion dollar from the general fund and 111.7 billion dollar overall, and contains no new taxes to meet the state's 8 billion dollar structural budget gap. The LAO has been predicting a 10 billion dollar structural gap for fiscal 2007.


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