Reports of California's financial demise have been greatly exaggerated. Well, perhaps that's a bit of an overstatement. But the Controller's numbers raised a lot of concerns over the budget's potential trigger cuts if revenues come up short. Now, the Board of Equalization report suggests the problem might not be so bad.
Palmer: "We believe on several fronts we're going to be slightly better - particularly on the sales tax front - than the Controller had reported."
H.D. Palmer is with the governor's Department of Finance. He says it's not that anyone's numbers are right or wrong. It's simply a matter of timing - when each agency counts the money. And speaking of timing…
Palmer: "Whether it's our numbers or the Controller's numbers, it is far too early to say with any certainty what is going to happen with the trigger."
That decision won't come until December.