It look literally every trick in the book to keep California afloat this year. But what some people call tricks others simply refer to as illegal.The Golden State could face as much as $4.7 billion in payouts to atone for its alleged sins. While the ends may justify the means when it comes to Italian tax amnesty, the same cannot be said for the Governator's efforts to keep California from drowning.
The state's highest court slapped the governor for illegally raiding mass-transit funds to the tune of $3.4 billion -- potentially costing this year's budget $1.2 billion.
There is little doubt that California has not exactly set the standard of excellence when it comes to fiscal discipline since the Governator has been in office. After carrying the torch of mortgage and spending excess for years, the calls for state government restraint have become deafening. Given the prospect of having to fill a new $5 billion hole, people may want to consider a little restraint of their own.
Potential cost of lawsuits begins to pile up for California's budget [Mercury News]