California State Revenue Data: March 2009

Another month, another drop in tax revenue for California. Here's the latest from the State Controller (pdf):

The State’s revenues continued to deteriorate in March. Total General Fund receipts were down $178 million (-5.2%) from the latest estimates found in the 2009-10 Budget Act... Compared to this date in March 2008, revenue receipts are down by $5.4 billion (-8.6%)... Year-to-date collections for the three major taxes were down $6.1 billion (-10.2%) from last year at this time. Retail sales were down $2.1 billion (-10.8%), personal income taxes fell by $3.5 billion (10.5%), and corporate taxes were $472 million lower (-7.3%) than last year’s total at the end of March.

Beginning last month, the controller adopted some of the positive spin that seems to be prevalent in government projections these days. Clearly, by all actual measures, the state finances are in terrible straights. Not only that, revenues are declining even faster than the latest estimates made only two months ago! Despite that, the controller sees "light on the horizon." Here's an excerpt from the newly added "What The Numbers Tell Us" infobox in the press release, used to "help" the media interpret the data:

There is no doubt that this is going to be a rough couple of years as the State's economy heals from this downturn. However, unlike the early 1990s when the State suffered from a five-year contraction, California is in good position to rebound strongly after this recession.

California is the largest single source of manufactured exports in the United States. One necessary long-run change expected to follow this downturn is a drop in the value of the $US in order to promote exports and reduce domestic demand for imports – the result of America turning back to saving. This export boom will likely stimulate the State's manufacturing industries and also spur the economy forward.

The negative effects of the real estate decline have been apparent, but lower home prices will eventually allow state businesses to become competitive once again – enabling younger families to build their lives here rather than in cheaper locations. While there are too many homes in many parts of the United States, this is not true in California, and the Golden State can expect its home construction market to get off the ground faster than in places like Florida, Arizona, or Nevada.

Can anyone explain what that last paragraph even means? We are in far worse shape than we imagine if even the controller's office is resorting to banal corporatespeak to spin away bad news.

Craigslist Trolling: Kitchen Sink Edition

MUST SEE *******************: 2 Bathroom Porcelain White Sinks $60 for both & 19" TV works GREAT have no room for it $25 & Kitchen Nickel Finish Chandelier 1 light $40 &

Everything must go!! Kitchen cabinets and more: Cherrywood kitchen cabinets for sale with out the counter tops, bathroom doors,16 bedroom doors, sinks, vanities

Everything Including the Kitchen Sink: White Electric Oven. 30x30. self cleaning. Good condition. White Electric Stove Top. 36 inches.Good condition. White Exhaust Fan. 36-40 inches. Good condition. White Double Kitchen Sink. Good condition.

KITCHEN SINK, BLINDS, BATH TUB, AND MORE: 4 sets of mirrored closet doors with all the hardware included. 2 contemperary round hanging lights that can be used in entry or dining area. Brand new oval shaped bath tub.

light fixture vanity:1-Double light fixture $10, 3-triple light fixture $15 each, 1-five light fixture $25, 1-four light fixture $20, or all for $85

Corian sink / countertop porch lights mailbox: 37" x 22" Corian countertop with built in sink and sidesplash. and faucet $10! Another bathroom sink and faucet and junky long counter $5! porch lights - 3 for $5! mailbox on wooden post - $5!

Beautiful items willing to sacrifice at great deal: MUST BRING YOUR TOOLS TO REMOVE.... Black/Nickel Finish Ceiling Fan $75 (NEEDS TO BE REMOVED) & Brown Safari/Black Finish Ceiling Fan $100 (NEEDS TO BE REMOVED) & Nickel Finish Chandelier $45 (NEEDS TO BE REMOVED) & Stainless Steel Double Kitchen Sink Never used....$100 &

FORECLOSURE SALE: THIS IS A FORECLOSURE SALE: I CAN NOT TAKE EVERYTHING WITH ME TO MY NEW PLACE,,, THERE ARE ALOT OF VERY NICE THINGS THAT I DONT WANT TO JUST LEAVE THERE AND I DONT WANT THESE ITEMS JUST TO GO TO WASTE. stove, fridge, dishwasher,

Sacramento Freeway Traffic Trends

It's been quite a while since I posted a freeway traffic trends update. Here are the latest Interstate 5 and Highway 99 utilization graphs:





Note: I5 data begins in 2006, Hwy 99 in 2001. These graphs depict vehicle-miles traveled (VMT) for the I5 and Hwy 99 routes between Elk Grove and downtown Sacramento. All data is normalized by the number of lanes, so these data represent utilization. VMT data and graphs are provided by the UC Berkeley Freeway Performance Measurement System.

Vehicle miles traveled continues the decline from the peak years of 2005-2006, the decline appears to be moderating after the precipitous declines of 2007 and 2008. These data dovetail with the recent published reports (pdf) of declining gasoline consumption in California.