HEADLINES : California
Jerry Brown warns of more cuts to state budget
The topic was "States and competitiveness in a global economy," but first off, the panel's moderator wanted Gov. Jerry Brown to give us a "sneak peek" at his 2012-13 budget revision, scheduled for next month.
Brown demurred, but said, "It will be very interesting." In fact, "You'll hear howls of execration over the next 30 days," he told a gathering of Silicon Valley CEOs on Tuesday. That is, when he lays out additional cuts - watch out health and social services - beyond the $4 billion he's already asked for.
Basically, some cuts that Brown wanted have been delayed by the Legislature and court action, which Brown referred to last week when he suggested that the state's $9.2 billion deficit may have increased by $1 billion or more.
Another reason, which he hasn't talked about: The revenue projections on which he based his initial budget are not looking good. In March, there was a shortfall of $233.5 million in revenue, 8.2 percent below projections, according to the state controller.