A Revenue Surge Doesn’t Change the Bigger Budget Picture

<p>Since I recorded a Point of Order podcast with Assemblyman Josh Hoover in early January, recent state General Fund revenue updates from the Legislative Analyst’s Office have understandably reignited that discussion. The non-partisan LAO now estimates that near-term General Fund revenues could be roughly <strong>$5 billion higher </strong>across the current budget window than projected in the governor’s January budget. </p><p>And the January budget the Governor submitted to the Legislature had what most fiscal analysts and experts, including me, considered a very rosy revenue forecast. So these current revenue updates showing stronger revenues that the Governir projected just one month ago is meaningful news — and it is also a reminder of how quickly California’s revenue picture can change.</p><p><br></p><p><br></p><p>www.sheehystrategygroup.com</p><p><br></p>