Quote:
Originally Posted by whell
Yes, I read it. So, please tell me, genius: how is it possible to run a "surplus" when the state has over $83 billion in debt? And those select enlightened sages in the CA legislature don't want to refund it to the tax payers. They don't want to use it to retire the debt. They want to SPEND it.
More Clintonesque budgetary slight of hand, the equivalent of paying your Visa with your Master Card.
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How to run a surplus.
1. Make sure Revenue in Current Period is greater than Expenses Paid in Current Period.
That's what a surplus is. That's what a surplus has always been, everywhere. Total debt doesn't come into it, only debt payment in period.
You may or may not know it but you are confusing Net Cash Flow and Net Worth. I call this deliberate dishonesty on someone's part....