State Assemblyman Dave Cogdill of Modesto believes Governor Davis´ 2002 proposed budget goals to erase the state´s 12.5 billion dollar budget deficit is little more than a weak attempt to halt the state´s budget woes.
Davis´ proposal calls for over one billion dollars in loans from state employee retirement accounts as well as delaying payments of previous loans to reduce the deficit. Those deferred payments total billions of dollars. Cogdill and other Assembly Republicans cite the proposal will actually increase costs in the future. The majority of Assembly Republicans want more budget cuts to address the problem.
A report released by the non-partisan Legislative Analyst´s Office Tuesday states the Governor´s budget is overly optimistic and too reliant on quick-fixes, increasing the deficit.