Blumenfield also points to $13.4 billion in budget cuts and other solutions Legislative Democrats adopted in March, helping to shrink the remaining budget deficit to $9.6 billion. Blumenfield goes on to applaud the Governor’s commitment to a balanced approach, stating that “shared sacrifice through cuts and revenue extensions is the fair and necessary way forward to protect education, public safety and job growth without hampering our financial future.” The budget chair concludes by stressing Assembly Democrats’ commitment to finding budget solutions that are “consistent with our state’s values and are helpful to our economic recovery.”
Click onto the following link for the English language MP3 file. The running time is 2:23.
Click onto the following link for the Spanish language MP3 file. The running time is 4:31.
Website of Assemblymember Bob Blumenfield: www.asm.ca.gov/blumenfield
Hello, this is Assembly Budget Chair Bob Blumenfield of the San Fernando Valley with an important update about your state budget.
This week, Governor Brown released an updated budget proposal called the May Revision for California’s 2011-12 budget. It continues the governor’s balanced, responsible approach to solving our budget deficit.
While California still faces tough budget choices, we were blessed with some good news. Our economy is showing signs of recovery and this has helped reduce our budget gap. Over 150,000 new jobs were created in the past six months. This – along with other increases in economic activity – has contributed to a growth in state revenues $6.6 billion above projections.
As a result, when accounting for the $13.4-billion in budget cuts and other solutions that we adopted a couple of months ago, our remaining budget deficit now stands at $9.6 billion. Governor Brown has proposed a combination of revenue extensions and cuts to close this gap and create an emergency reserve of $1.3 billion.
Assembly Democrats applaud the Governor’s commitment to a balanced approach to solve this deficit. We understand that shared sacrifice through cuts and revenue extensions is the fair and necessary way forward to protect education, public safety and job growth without hampering our financial future.
Our first priority as Assembly Democrats is pulling California out of the recession and putting the state on a path to long-term prosperity. That’s why we’re pleased by the governor’s proposal to increase K-12 education by $3 billion and to create economic incentives for new job creation. We also see value in the governor’s plan to significantly pay down California’s debts so the state can build a 21st Century economy on stable financial footing.
With nearly a month to go before the deadline to pass a budget, a few things are clear. First, it’s clear the governor is asking us to think big and enact long-term, ambitious solutions to our budget challenges. Second, it’s also clear that Assembly Democrats will continue working to find budget solutions that are consistent with our state’s values and are helpful to our economic recovery.
This has been Assemblymember Bob Blumenfield from the San Fernando Valley. Thank you very much for listening.