An idea so dumb, only california dems could come up with it

[ElTaino]

http://www.mercurynews.com/politics/ci_12611429

"...Democrats suggested several accounting maneuvers that would raise billions of dollars upfront but push the deficit into the future. They would delay one month's worth of state payroll costs — about $1.2 billion — until the fiscal year that starts in July 2010..."
hno:
state employees get paid on the 30th of june and they want to delay payday by one day. so rather than spending 1.2 billion on a tuesday, they want to spend it on a wednesday. fiscal year or not, 1.2 billion is still 1.2 billion and they will then have to add 1.2 billion to next years budget. :think2:
unless they print 1.2 billion themselves, where is this so called extra money?

 

[Willie99]

Bureaucracy at it's finest. What's funny is that they're serious. What's even funnier is that some people have confidence in them.

<<

 

[steaktartar]

even i will admit....cal dems are some of the few on earth that could've thought this out......sadly

 

[punter]

Sounds a little like the games my book and I play with each other on when the settle up amount has been reached.

 

[hippieki11er]

fiscal year or not, 1.2 billion is still 1.2 billion and they will then have to add 1.2 billion to next years budget. :think2:

More importantly, it'll need to be added as a short-term liability on their Balance Sheet with full disclosure in their notes.

unless they print 1.2 billion themselves, where is this so called extra money?

Consider it included in their current cash balance a/o 6/30. This move does not yield positive cash flow, rather it's a mere wash on the Balance Sheet to avoid the expense side on the P&L at their fiscal YE (unless properly accrued at 6/30).

 

[ElTaino]

i fully understand what they are trying for here, but its reaching (and comical) at best. the use of fallacious statements like "raising" and "saving" (funds) and trying to sell it to the public as such is what i find just as laughable as a one day delay of 1.2 billion in payments

 

[Mistermj]

even i will admit....cal dems are some of the few on earth that could've thought this out......sadly

Holy football jesus...your rare honesty and common sense is duly noted. :thumbsup:

 

[Mistermj]

Sounds a little like the games my book and I play with each other on when the settle up amount has been reached.

Still using creditwager.com huh?

:lol:

 

[steaktartar]

Holy football jesus...your rare honesty and common sense is duly noted. :thumbsup:

im always honest

 

[Willie99]

im always honest

it's easy

that way you don't have to worry about what you said to whom and when

of course, I may not tell Huskygal everything, but I call that the male defense mechanism.

 

[mplastered]

i fully understand what they are trying for here, but its reaching (and comical) at best. the use of fallacious statements like "raising" and "saving" (funds) and trying to sell it to the public as such is what i find just as laughable as a one day delay of 1.2 billion in payments

Sounds like paying a credit card with a credit card.