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Saturday, June 1, 2013

A budget gamble hinging on the volatile stock market

I don't follow politics or fundamentals, so maybe I don't know what I'm talking about, but if 3 billion in stocks are sold don't you think that might just send the market over the edge, and start the anticipated collapse?

I'm saying this because I got this letter from  California State Assembly Republican Member Dan Logue who represents the 3rd assembly District in California.

Below is a section of his e-mail to me.

Spending a Surplus into a Deficit

With the constitutional deadline for lawmakers to pass a budget – or risk losing their pay – just two weeks away, Assembly and Senate Democrats have put forward their ideas for the state’s spending plan.
However, there are stark differences in the competing proposals over how much tax revenue the state is estimated to receive and how to spend that extra one-time funding.
This week, the Budget Fact Check examines how the legislative Democrat plans stack up against the Governor’s and found that:
  • Majority party leaders are counting on more than $3 billion in unanticipated, one-time revenue – a budget gamble hinging on the volatile stock market.

1600 area is critical and strong

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