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Posted by: thepinetree on 08/19/2019 06:47 AM Updated by: thepinetree on 08/19/2019 06:47 AM
Expires: 01/01/2024 12:00 AM
:

Citing Decisions to Save For a Rainy Day, Major Credit Agency Upgrades California’s Credit Rating

Sacramento, CA...Citing decisions to build the state’s fiscal reserves and California’s economic growth, a major credit agency has upgraded the state’s credit rating. Fitch Ratings writes that California has improved its ability to weather an economic downturn. “The state eliminated the overhang of budgetary borrowing that had accumulated through two recessions and continues to set-aside funds in the budget stabilization account,” the agency wrote.





Governor Gavin Newsom celebrated the news.

“At a time when Washington is soaking Americans with a trillion dollars in debt to pay for tax cuts that benefit the wealthy, California is taking the exact opposite approach,” said Governor Newsom. “We are proving what big-hearted, progressive governance can look like. Our Rainy Day Fund is larger than at any time in our history. We are the job engine of America, and California is doing more than ever to help families tackle challenges of affordability.”

The 2019-2020 budget signed by the Governor made a series of investments in expanding the state’s financial security. The Budget will end the year with total reserves of $19.2 billion, of which $16.5 billion is in the Rainy Day Fund, $1.4 billion in the Special Fund for Economic Uncertainties, $900 million in the Safety Net Reserve and nearly $400 million in the Public School System Stabilization Account.

The Budget makes an extra payment of $9 billion over the next four years to pay down unfunded pension liabilities. This includes $3 billion to CalPERS and $2.9 billion to CalSTRS on behalf of the state, and $3.15 billion to CalSTRS and CalPERS on behalf of schools.

The Budget invests $4.5 billion to eliminate the Wall of Debt and reverses the decade-old deferral undertaken during the last recession.

The Budget prioritizes one-time investments, with 88 percent of new expenditures being temporary rather than ongoing. This addresses the affordability crisis facing Californians while minimizing ongoing commitments to avoid putting the state at fiscal disadvantage in the future.

###


Comments - Make a comment
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No Subject
Posted on: 2019-08-19 06:51:19   By: Anonymous
 
Gavin has a nice set of cock suckers!

[Reply ]

    Re:
    Posted on: 2019-08-19 07:08:03   By: Anonymous
     
    Profanity

    [Reply ]

      Re:
      Posted on: 2019-08-19 07:17:05   By: Anonymous
       
      Are you guys drinking already?

      [Reply ]

        Re:
        Posted on: 2019-08-19 07:21:59   By: Anonymous
         
        I don't drink but I did a big bowl of crack cocaine for breakfast.

        [Reply ]

          Re:
          Posted on: 2019-08-19 07:23:58   By: Anonymous
           
          I’m extremely happy living in the great state of California. Let’s work together to make all of America better.

          [Reply ]

            Re:
            Posted on: 2019-08-19 07:45:21   By: Anonymous
             
            Would that be anything like MAGA ?

            [Reply ]

        Re:
        Posted on: 2019-08-19 15:46:36   By: Anonymous
         
        Arm the homeless with assault rifles!


        [Reply ]

    Re:
    Posted on: 2019-08-19 07:53:59   By: Anonymous
     
    wow the taxs in california is higher than anywhere else, what happen to the train?

    [Reply ]

      Re:
      Posted on: 2019-08-19 08:22:25   By: Anonymous
       
      What did you expect , hillbilly

      [Reply ]

        Re:
        Posted on: 2019-08-19 08:26:33   By: Anonymous
         
        I give up bay area Fa# g

        [Reply ]

          Re:
          Posted on: 2019-08-19 08:41:31   By: Anonymous
           
          I've got your hillbilly hanging !

          [Reply ]

            Re:
            Posted on: 2019-08-19 08:58:09   By: Anonymous
             
            it looks to be the size of a little nipple, what happened to it? Did you shoot it off or sumtin?

            [Reply ]

              Re:
              Posted on: 2019-08-19 08:59:24   By: Anonymous
               
              Gay tie.


              [Reply ]

              Re:
              Posted on: 2019-08-19 09:32:25   By: Anonymous
               
              You to lo pull up and jump on that big piece of pipe.:-)

              [Reply ]

                Re:
                Posted on: 2019-08-19 09:38:19   By: Anonymous
                 
                Sumtin, you wore that one out time to come up with something new. That plane crash was years ago.

                [Reply ]

The US subsidizes Commiefornia
Posted on: 2019-08-19 08:22:49   By: Anonymous
 
California and three other states on Friday filed the latest court challenge to new Trump administration rules blocking green cards for many immigrants who use public assistance including Medicaid, food stamps and housing vouchers.

"Nearly half of Americans would be considered a burden if the same standards were applied to U.S. citizens", said California Attorney General Xavier Becerra.

In other words, if Commiefornia had to pay without federal subsidies for all the freebies they promise the illegals in exchange for D votes, their borders would be locked up tighter than Obama's real birth certificate.

[Reply ]

    HAHAHAHAHAHAHAHAHA!!!
    Posted on: 2019-08-19 08:55:33   By: Anonymous
     
    HAHAHAHAHAHAHAHAHA!!! LYING, CHEATING, CROOKED HILLARY!!!HAHAHAHAHAHAHAHAHA!!!

    [Reply ]

    Re: The US subsidizes Commiefornia
    Posted on: 2019-08-19 15:41:36   By: Anonymous
     
    Some Dude hitting golf balls on the moon, bathroom in his pants and he thinks he's better than me..

    [Reply ]

No Subject
Posted on: 2019-08-19 09:02:16   By: Anonymous
 

Only in California, It’s against the law,
OK, let’s get this straight. In CA It's against the law for a restaurant to offer me a plastic straw but it's ok for Starbucks to serve drinks in a plastic cup and it's OK for me to use plastic Keurig coffee pods and buy tons of plastic water bottles.
It’s against the law for a grocery store to give me a micro-thin plastic bag for free, but it’s OK for them to sell me a plastic bag for a few pennies that is 20 times as thick.
CA is going to fine citizens billions a year for not having health insurance and paying for their own medical care, but they are going to provide free health care/insurance for those in the country illegally.
In CA we provide driver's license to people in the country illegally, and you can list your sex as “X”, but I have to bring my original birth certificate, social security card, and two utility bills to get my Real CA driver's license so I can use it to board a plane since the Federal government no longer recognizes regular CA licenses.
It’s OK for a homeless person to build a house next to the river out of plywood and tarps on property they don't own, but I have to pull a permit and pay fees to have an inspection if I do something as simple as replacing a window on my own property.
In San Francisco they provide free Safe Drug Centers for heroin addicts to shoot up under nurse supervision and provide new needles (also plastic), but it's going to be against the law for adults to Vape.
In San Francisco it's OK to poop on the street but it's against the law to spit.
California requires immunizations for its citizens but not for illegal aliens, so a bunch of eradicated illnesses are coming back and they don't care about those either.
Also, you will be fined if your dog poops and you don't clean it up; but you poop on the sidewalk, it's OK !
Welcome to Californication.


[Reply ]

    Re:
    Posted on: 2019-08-19 09:10:51   By: Anonymous
     
    Time to head for the bathroom....

    [Reply ]

      Re:
      Posted on: 2019-08-19 09:34:11   By: Anonymous
       
      Just crap in your pants no one will know.

      [Reply ]

No Subject
Posted on: 2019-08-19 10:18:32   By: Anonymous
 
Say what you will about Gavin, happy to read that he's holding on to reserves for the inevitable rainy day/recession.

[Reply ]

    Re:
    Posted on: 2019-08-19 13:12:58   By: Anonymous
     
    Idiot hillbillies don't hang, they are inverted c¥nts./b>

    [Reply ]

    Re:
    Posted on: 2019-08-19 13:13:56   By: Anonymous
     
    Not to mention gavin is the governor, he's their governor. Like it or not, complain all you want.. no one is holding you hostage love it or leave it already cry babies this is california. Candy ass snowflakes move on already, we won't be turning red anytime soon. Don't hold your breathe hahahahahahahaha see ya!

    [Reply ]

      Re:
      Posted on: 2019-08-19 14:25:00   By: Anonymous
       
      You can go back to making out with your relatives now .

      [Reply ]


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