California Election results could put a balm to the state’s financial debacle

May 20th, 2009 - 8:36 pm ICT by GD  

The Californians headed for the polls on 19 May, that was on Tuesday. The elected officials hope that the election will bring a solution to the fiscal debacle that the state is going through at present. The main focus of Tuesday’s election will be on half a dozen propositions that were forwarded by the state. these propositions aim at decreasing California’s current monetary deficit. The main criteria on which these propositions are based is, “massive cuts in spending across the board.” The reason for these massive cuts is the legislature of California is the inability to raise funds through its other outlets.

Since the dawn of the global economic recession, the state of California has been cutting down on its expenses regularly and raising its taxes and borrowing extensively from the center. These economic mechanisms have helped the state to move its huge financial deficit but only to a certain extent.

The deficit that earlier stood at $42 billion currently is $21 billion, which is relatively huge and daunting. If the economic propositions are passed, following Tuesday’s elections, the deficit could come down to $15 billion, which is a lot of money.

The turnout for Tuesday’s election was extremely light. Only a mere 9.87% of the voters turned out in the Los Angeles County. The turn out in the other Californian counties were similarly light, as per the reports of the Los Angeles Times.

Reflecting on light turnout, Debra Brown, the California State Secretary said, ” I am not surprised by the light turnout for the state’s special election, considering the confusing ballot measures and the numerous times in recent years voters had been asked to go to the polls.”

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