Jerry Brown, Spicer, Twenty Seven Twenty Seven Billion Dollar discussed on Forum

KQED Radio
| KQED Radio


You know of the old saying in in finances you by low sell high and jerry brown did that he he inherited about a you know what uh twenty seven twenty seven billion dollar deficit in leaving behind an eight nine ten billion dollar surplus so in some ways that you're buying hi it's kinda governors up so you know what are you do if things turned down because the governor's been predicting it for five years it's going to happen event it's inevitable is let's just very very briefly go back to a point four percent unemployment rate twenty seven billion dollar deficit this year we were debating the size of a six point one billiondollar surplus some believe it's actually a little bit higher the new unemployment numbers came in which were 'extraordinary in contrast now bought four and a half percent in the state we made tremendous progress tremendous strides we paid off this quote unquote wall of debt which still have huge challenges with pension reforms that we need to advance in issues of unfunded healthcare liability which we can do and work together to address a but the fact remains you're right there's a lot of headwinds coming our way we have an administration that attacking our values on an hourly basis tweet by tweet uh we have the likelihood that economy will temper and slow down and we the volatility of a tax system that was designed a century ago that is so volatile that when the nation catches a cold we catch the proverbial flew as it relates to uh the budget sauna use alter challenge van as you know part of that is that we are over reliant as a state on income tax especially the upper income earners in its fluctuates it goes up and down what would you do you know to to reform the tax code were some specific things you think could be there's a raging debate it's not an easy one and and i'm i'm not necessarily attaching myself to the specifics because we haven't created the conditions where we can have an honest debate of tradeoffs but the fact spicer some estimates eighty five percent of our economy is not tax we're no longer industrial economy where service inkatha me in the fed like wild arms for law firms alike we don't have a.

Coming up next