REPOST: California’s revenues down, state spending up in July


California still lacks a 2010-11 state budget but its deficit is already widening as revenue falls below official forecasts and spending runs above expectations, Controller John Chiang said today.

Revenues in July, the first month of the fiscal year, were $91 million or 1.9 percent below the pending budget’s forecast, Chiang said, while spending ran nearly a billion dollars over the forecast.

Read more: http://blogs.sacbee.com/capitolalertlatest/2010/08/states-revenues-down-spending.html#ixzz0wLfEN1PT

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