Posted by: jhamon | July 10, 2009

Could California Employee Furloughs Balance Budget?

LOS BANOS, CA - APRIL 17:  California Gov. Arn...

Mish examines the benefit of furloughing state employees to bring down costs.  He observes that my home state of Gollyfornia’s furloughs are saving $1.3 Billion – a tidy sounding sum – and then drops the hammer:

The California budget deficit is $26 billion now and counting. Shortfalls are rising every day as is interest on IOUs. California could fire all 200,000+ state workers on forced furloughs and still not balance its budget!

Massive programs need to be cut and pension benefits must be brought under control.

For those looking for a near conclusion to our national nightmare, I have bad news for you: It’s the third inning.

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  1. […] is the 10th largest economy in the world.  A true meltdown will have serious consequences, and as I wrote yesterday, firing every state employee won’t close is California’s […]

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