Jun 26, 2011

Budget gimmicks explained: 5 ways states hide deficits

Last week, California Gov. Jerry Brown vetoed a budget that he said was filled with gimmicks — or as he put it, “legally questionable maneuvers, costly borrowing and unrealistic savings.” Editorial boards have praised Brown for exercising responsible fiscal judgment. Meanwhile, Brian Joseph of the Orange County Register has written that Brown’s own budget plan uses gimmicks, too.