Senate Republican Leader Bob Huff (R-Diamond Bar) details a new report from the independent Legislative Analyst in his Capitol Comment for the Week of May 5, 2014.
The report from the Legislative Analyst's Office (LAO) concludes that California isn't out of budget difficulties just yet, and the state's liability -- or what it owes -- is roughly $340 billion.
LAO Chief Mac Taylor concludes the shortfall covers three main areas of state spending: Retirement, Infrastructure and Budgetary. The largest chunk of money, about $217 billion, is owed to retirement and health benefit programs for retired state employees.
Senator Huff says agency that covers retirement costs for teachers and other school employees is in the biggest trouble, with a budget shortfall of nearly $74 billion. The LAO recommends that the Governor and the State Legislature take a number of steps to tackle the budgetary debt, and one of those steps is to resist the urge to spend money on any new state programs.
Senator Huff points out that there have been times when elected leaders have ignored the LAO advice in the past, which is why the state is in such trouble today.
Senator Huff serves as the Senate Republican Leader and represents the 29th Senate District covering portions of Los Angeles, Orange and San Bernardino Counties. Follow Senator Huff on Twitter @bobhuff99. Visit Senator Huff's website.
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