Governor Jerry Brown’s 2017-2018 budget is anticipating $1.2 billion shortfall in sales tax revenue. At a time when government expenditures is reaching all time highs, there is pressure to find money to fund it. Jerry Brown is attempting to emulate a “borrow-short and lend-long” strategy that previously bankrupted Orange County. This kind of strategy, critics at Breitbart point out, caused the SEC to create a new rule to try and prevent local and state governments from making the same mistake.
Click here to read the article.